Thursday, September 12, 2013

Is Solar Farming A Good Investment?

By Xavier Penton


The usage of solar technology is now more common, than it actually has been before. Manufacturing companies are putting money into solar power. Panels nowadays cost approximately half what they use to one or two years ago. Government authorities are modifying legislation to encourage the use of sustainable energy. Regional councils are integrating renewable energy into their construction codes. Financial institutions are offering 'green' mortgages specifically concentrating on the purchase of eco friendly hot water systems, solar panel systems, water tanks et cetera. Urban homeowners and small companies are installing small scale photovoltaic systems on their rooftops. It seems like so many people are getting on the solar train. But what exactly is the benefit of solar technology to the ordinary household consumer? Is solar power worth it?

This question can be answered from a variety of angles. This article is going to endeavor to provide the answers for people who are enquiring from a monetary, environmental as well as a practical viewpoint.

The likelihood is that you are asking the benefit of photo voltaic question from a financial perspective. Exactly what is the return on my investment (ROI)? The answer to this question largely relies on a variety of factors. The most important aspect to consider is where you reside in the world. Where you reside determines the amount of sun your solar panels will be exposed to during the year. The nearer you live in the direction of the poles, the less the quantity of sunlight hours you are exposed to in comparison to your counterparts near the equator. This equates to less electric power generation in comparison to your counterparts. Which country you reside in, also determines whether or not you will obtain federal government financial incentives to put in a pv system. Consider what your various levels of government are offering. Also, make sure you research and find what the cost is to install a system. When determining the time it takes to pay off the original price of the install, take into account your electrical power usage, and the forecasted increasing cost of electricity in the future. On the basis of these aspects, you will get much more of an idea if solar will pay itself off for the short term, in the long term, or if even at all.

Additionally, a lot of people are enquiring about the benefit of solar energy from an ecological perspective. That is, does solar when compared with other forms of generation (coal for example), decrease the quantity of carbon dioxide released into the environment per kilowatt of electrical power generated? My prompt search around Google suggests that solar PV generates carbon dioxide pollutants significantly less than electrical power produced by natural gas turbines, Diesel, coal and oil generators, by a factor of 10! In recent years, there has been a rapid technological improvement in the production of Photovoltaic cells and panels, such that the environmental advantages of setting up solar are becoming more and more obvious.

Thirdly, consumers are asking about the effect that solar power will have on them from a practical point of view. For instance, you may have a need to get electricity to an isolated area. The substantial reduction of cost to set up solar power has now made it a great, viable option as opposed to other alternatives. Evidently in Australia, consumers are putting in stand-alone systems since the cost to install electricity infrastructure such as power poles and a transformer is considerable. You may be wondering what the maintenance cost is once you own a system. The majority of Photovoltaic systems are grid connected. These systems require little if any maintenance. When the sun is shining and the PV system is creating sufficient electricity, excess electric power is fed back to the grid. At times when the household requires more electricity than the system can create, the electrical power grid provides what is needed. The inverter and meter manage it all. No interaction by the property owner is required. Although, remote stand-alone systems need a bit more attention. This may include the periodic operation of a diesel power generator when the battery packs of an isolated system have been depleted due to an extended time period of cloud cover.

As you are considering the advantages or disadvantages of solar power, you should do your research and analysis about the subject. This short article only has started to skim the surface, taking a look at several broad elements.




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