Solar energy – 7 reasons

Solar energy - 7 reasons

On average, manufacturers give 25 to 30 years warranty on solar panels. In practice, the panels will last much longer.

Now, solar energy is really going to break through. This is what the US Rocky Mountains Institute believes. 

The institute listed ten reasons for it. BetterWorldSolutions is pointing out 7 of them. 

Solar research

From the Rocky Mountains Institute: ‘(…) We feel the solar industry does not face a cloudy future. Far from it. Policies, regulations, and the stock market can’t stop the continued growth of this clean, affordable, reliable technology; the future of PV is bright. (…)’

  1. PV manufacturers are developing
    Where PV manufacturers were used to focus on a small segment of the market, they are now serving quite a big piece. As a result, the companies are less sensitive to changes in energy policy, for instance, if a subsidy is abolished.
  2. Worldwide still much opportunities for growth
    Internationally market for PV is still growing very fast.
    Last year, 59 gigawatts was generated by solar energy worldwide. In 2016, the US Rocky Mountains Institute estimated an increase up to 65 gigawatts.

    • Especially emerging economies. such as China and India, do have still a lot of growth potential
    • And the Middle East is expected to grow fast
    • Furthermore, more than one billion people in developing countries do not have any electricity power at all. If they are supplied by cheap PV, their opportunities will grow fast. The construction of a complete power grid with high-voltage cables is not necessary. A PV can generate electricity right where they need it.
  3. Robust and reliable
    On average, manufacturers give 25 to 30 years warranty on PV. In practice, the panels will last much longer. The pioneers of the seventies are still using the PV from that period. Also, the inverters, the devices needed to connect solar panels to the power supply, turned out to be very reliable.
  4. Cheaper than fossil fuels
    According to the American investment bank Lazard, Green Power is cheaper than coal or gas, to generate electricity. In addition, they mean especially the large-scale power production plants like the CSP. A solar power plant in the US state of Nevada produces 1 kilowatt-hour for 3.87 cents. Private PV is relatively expensive, but they have the advantage that there is no need to pay for the transport of electricity.
  5. Prices are fallling
    By larger-scale production, improved production technologies and more efficient systems, the prices will reduce. The next three years, one of the largest manufacturers of solar cells in the world in Canada, expects prices will fall by a quarter. Greentech Media, a company that publishes on renewable energy, expects prices will fall by 40 percent in 2020.
  6. Coal plants are closing
    Many countries have proposed to close the coal plants to reduce CO2 emissions. For instance, coal plants will be phased out in the UK and in the Netherlands. The loss of electricity will have to be compensated. Solar energy could be a sustainable alternative to coal-fired plants.
  7. New business models
    There is continuous innovation to make solar more affordable, accessible, and profitable. Even large, conservative investor-owned utilities are adding more solar (e.g., Southern Company with its three military bases of over 90 MW under construction and several large utility scale solar farms publicly announced by Mississippi Power) forging new business models in highly regulated markets.
    Regulators like the New York Public Utilities Commission play an equally important role in opening the field in business model innovation in current and emerging sectors.

Link to the paper ‘economics of Grid Defection

The Economics of Grid Defection: When and Where Distributed Solar Generation Plus Storage Competes with Traditional Utility Service (4-Pager)

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One Response to Solar energy – 7 reasons

  1. Emma says:

    This article is really informative.Solar energy has lot many advantages compared to other energy sources.After coming to the awareness of the solar energy,even am also planning to setup one in my home.Am planning to buy from Solar Tech Elec LLC.

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