Solar cells are one of the main ways to generate electricity on a spacecraft: they work for a long time without using any materials, and at the same time are environmentally friendly, unlike nuclear and radioisotope energy sources.
In recent years, the cost of solar photovoltaic panels has decreased several times. The cost of components for a solar power system is also decreasing. With the low cost of solar panels and the increasing cost of energy (including grid power), you can purchase and install solar panels from novasolar.com and photovoltaic power plants in the home are more and more attractive.
The decreasing cost of solar panels makes them not only a way to use environmentally friendly electricity, but also a good investment when you choose the best solar Denver. Installing a solar panel is the most time-consuming process, but the good thing these days is there are solar panel experts, who can help you, and you just have to be happy with your new installation!
The industrial power around solar panels has grown, too, with affordable parts produced by a host of companies, from those like Metal Washers Manufacturer producing universal metal washers, to companies producing racks, shells, inverters, lifters, etc. Many of them are based in China, with India and Europe also boasting their share.
Ask yourself, which of your purchases in the last 10 years have generated cash flow for you? Almost everything we buy does us some good, but it doesn’t make us any money. If we look at the expenses that any home requires, barely any of them bring us money — repairs, painting, home maintenance, home improvements, any construction work. At the same time, any properly installed photovoltaic system produces electricity every moment the sun’s rays fall on the solar array. This electricity replaces the energy you would otherwise consume from the grid and have to pay for. That is, a solar panel constantly produces a flow of money, which provides a return on the investment to buy it.
Ten to twenty years ago, we would have said that the payback on solar panels was “out there, someday.” Now we can already calculate the payback period, and it will be in the range of a few years to 10-15 years, depending on capacity of the system, its region, and modes of operation. If the system is autonomous, the payback period is compared to the alternative, which is usually a gasoline generator or diesel generator.
What Motivates Buyers of Solar Panels?
We have analyzed motives to purchase, and we can say that the main motivators to purchase are as follows (in order of popularity):
- The desire to be independent of the power grid and grid failures;
- Interest in new technologies;
- Concern for environmental problems;
- A new motive in recent years is the desire to be independent of rising electricity prices. When you buy a solar panel for your home, you “lock-in” the cost of the electricity it produces for 20-40 years to come.
When you buy solar panels for your home, you are investing in a rare product — one that combines a high lifespan, virtually zero maintenance costs, and can still generate power. For many solar buyers, these 3 factors have been the incentive to buy. Now, these incentives have been supplemented by financial gain. More and more people are installing solar panels in their homes. Who knows, maybe after reading this and other articles about solar photovoltaic power plants, you too will decide to make such an investment?
Solar Panels Prices vs. Gasoline Prices
When we consider the real cost of electricity, we have to take into account other factors than the price of kWh from the central grid. Conventional fuels have a real impact on the environment, public health, and the economy. There is a cost to the environment from the combustion of the fuel, as well as the extraction, processing, and transportation of the fuel. This pollution affects public health and the environment. The electrical energy generated by burning coal or natural gas can never exceed the amount of energy used to mine, transport, and process the coal or natural gas. Unlike traditional sources, photovoltaic solar panels produce clean energy for decades, with an energy payback period of 3 years or less — a true marvel of photovoltaic technology.
Electricity from the grid is paid for as it is consumed. There will always be payments as long as you consume electricity. In contrast, most of the cost of a photovoltaic system is paid when the system is installed. After that, the electricity you receive is free. In economic terms, the payback on a solar PV system depends on 3 factors: the solar resource, the cost of electricity from the alternative (grid, generator, or other), and the clean energy support policies that the country or region has. Even though electricity from the centralized grid is not very expensive, inflation, as well as historical increases in electricity prices, makes it inevitable that electricity rates will increase in the future. All of this leads to an even faster payback on solar PV systems.
When one evaluates the different power supply options (grid, PV system, generator, or wind turbine), it becomes clear that a solar PV system produces inexpensive electricity. The sun shines everywhere and is available to everyone for free. In addition, when compared to the examples above, the operating costs of a solar power system will be much lower because of the absence of moving parts, the extremely high reliability of solar panels, and minimal maintenance.
Should we wait for solar panels to get cheaper, or install a solar energy system in our home right now? In our opinion, the question is rhetorical — of course, now is the time to buy and install solar panels on your roof or garden plot.
At the end of the day, solar panels are great. They’re fancy advanced technology. When you use them, you take care of the environment, think about the future, and still get affordable electricity!