Solar panels, especially with an off-grid solar system, reduce the commercial project reliance on the grid, helping save money on electricity.
Solar Renewable Energy Credits (SRECs) are certificates that can be received in some US states and sold for money. For example, for each 1,000 kWh (kilowatt-hours), you can earn 1 SREC.
Since some utility companies are required to use a certain amount of their energy from renewable sources, they’re willing to buy it from solar system project owners.
At the moment, the states where SRECs are available include:
New Jersey, Massachusetts, Pennsylvania, Maryland, District of Columbia, Ohio, Delaware, North Carolina, California, Illinois, and Virginia.
Utility-scale projects produce economic development advantages due to the creation of wide-ranging job opportunities. The Interstate Renewable Energy Council (IREC) found that the solar industry accounted for nearly 280,000 jobs at the end of , demonstrating a continuous increase.
It doesn’t just include the construction phase – solar farms develop long-term employment opportunities. The International Renewable Energy Agency (IRENA) estimated in their study that renewable energy jobs, including solar PV, could reach 42 million by worldwide.
Since solar panels don’t have any moving parts that could wear off, they require little maintenance. Project owners should still regularly clean them and monitor their performance. For example, NREL found that solar panels can lose as much as 7% of energy in some parts of the US and as much as 50% in the Middle East due to dust annually.
However, gentle cleaning even a few times per year is enough to not let dust accumulate and block sunlight.
Solar panels may be disrupted due to some weather changes, such as cloudy days, but they’re suitable for use in any climate. This includes winter, contrary to popular belief. If snow is cleaned off when accumulated, the sun can still reflect off the snow and even enhance the amount of light that reaches your solar panel.
In fact, solar panels could lose around 0.43% of their power with every degree Celsius when the panel gets hotter than 25°C (77°F) according to a study by International Finance Corporation (IFC). So lower temperatures can even be a benefit for solar panels.
For residential systems, solar panels are considered a valuable upgrade, helping increase property value. According to research by Zillow, homes with solar panels tend to sell for around 4.1% more on average than those without them.
The study claimed that it translates to an additional $9,274 on average. However, other factors come into play, such as the home location or solar energy system size.
While the solar energy pros outweigh the cons, there are still some to take into consideration. Let’s review the main disadvantages.
Solar panels cannot convert all sunlight into electricity – this is known as conversion efficiency. Most of the sunlight hitting PV cells gets lost during the conversion process. Light either gets reflected or turned into heat instead of getting converted into electricity. According to the U.S. Department of Energy, most panels have 21% efficiency.
Another factor limiting conversion efficiency is recombination. It happens when charge-carrying electrons encounter charge carriers (holes) or defects in the PV material, which don’t have electrons. During recombination, the energy turns into light or heat instead.
To improve PV efficiency, it’s beneficial to use bifacial solar panels. They have cells on their underside to catch reflected light. According to a study by Kurz and others, bifacial panels can have more than 56% higher efficiency than their monofacial counterparts under favorable conditions.
Researchers have also developed new technologies, such as multi-junction PV cells, which increase efficiency to more than 45%. Manufacturing costs, material availability, and other factors need to be addressed before this technology becomes accessible for commercial use.
Solar intermittency and storage challenges
Another issue with solar energy is solar intermittency. It refers to the inconsistency of solar energy generation as it isn’t available at all times due to daylight hours and weather conditions.
Solar power users need other power sources to use after sunset, and utilities cannot rely on solar alone to provide electricity for their customers.
There are a few methods to improve solar reliability, including:
Net metering. It’s a system that allows solar power users to sell energy that they haven’t used. The solar power system feeds unused energy back into the grid and the utility company offers credits that the customer can use to cover the cost of electricity from the grid after dark.
Off-grid solar system. An off-grid system is independent from utility companies, helping store enough energy to cover unsuitable weather conditions. However, they require large battery tanks, resulting in much higher initial costs.
Fortunately, battery technologies are improving, with initiatives like the Battery + roadmap that calls for more efficient, cost-effective, and safer next-generation batteries. Combined with smart energy management software that optimizes electricity use based on usability, such developments could result in more affordable solar storage.
Another disadvantage of solar energy is that its efficiency depends on the geographic location. Naturally, the closer the solar power system is to the equator, the more solar radiation it receives and the more energy PV cells can produce.
However, in areas with low levels of solar radiation, such as cloudy, rainy, or higher-latitude locations, solar panels may not produce as much energy. Pollution, foliage, elevation, and other factors also play a role in how much solar energy hits PV panels.
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While solar panels are sustainable, they still degrade over time. Most panels still retain 80% of their electricity production capacity after 30 years but their recycling causes concerns. The U.S. Environmental Protection Agency (EPA) states that some solar panels that contain too much lead or cadmium are harmful to the environment, making them hazardous waste.
Additionally, mining of necessary minerals and manufacturing or transporting panels may produce pollution, adding to the overall carbon footprint of solar energy.
Lastly, researchers have also discussed the heat island effect that large-scale solar power plants cause. This contributes to rising local temperatures.
Although solar panels leave an environmental impact during their life cycle, research is advancing in this area.
Recent research has focused on solar panel recycling, with some studies producing promising results for the reuse of silicon from old solar panels.
NREL highlights research efforts that could increase the lifespan of solar panels to 50 years or more. This effort requires experimenting with different cell and module technologies and working on panel packaging.
With the impressive growth of solar energy in recent years, the future looks promising. Researchers and companies are actively trying to address many of the problems slowing the solar PV industry, and governments continue to offer incentives and create policies that focus on making clean energy more accessible to everyone.
Climate change has inspired many national governments to seek clean energy alternatives to replace traditional fossil fuels.
Of all the clean energy alternatives, solar has arguably been the most expensive though prices have been declining. However, after considering the pros and cons along with the expectation that prices will continue to decline, the future of solar energy is looking rather bright.
The pros of solar energy include that it is a sustainable alternative to fossil fuels and has a low impact on the environment and the potential for any country to produce it. The cons are that it only produces energy when the sun is shining, needs a significant amount of land, and that certain solar technologies require rare materials.
The advantage of solar energy is that it is a sustainable alternative to fossil fuels. While fossil fuels have an expiration date that may be fast approaching, the sun is likely to be around for at least a few billion years.
Solar energy has a substantially reduced impact on the environment compared to fossil fuels. Its greenhouse gas emissions are inconsequential as the technology does not require any fuel combustion. Also, although concentrating solar thermal plants (CSP) are comparatively inefficient in their water usage depending on the type of technology being used, the right technology significantly increases efficiency while photovoltaic (PV) solar cells do not require any water when generating electricity.
Since the sun shines across the globe, it makes every country a potential energy producer, thus allowing for greater energy independence and security. Solar energy doesn’t only promise to bring security and independence at the national level; solar panels can be installed on individual homes, providing power that does not depend on being connected to a larger electrical grid.
One of the biggest problems that solar energy technology poses is that energy is only generated while the sun is shining. That means nighttime and overcast days can interrupt the supply. The shortage created by this interruption would not be a problem if there were low-cost ways of storing energy as extremely sunny periods can actually generate excess capacity. As the global capacity for solar power continues to rise, nations like Japan and other global leaders in solar energy technology are focusing on developing adequate energy storage to deal with this issue.
Another concern is that solar energy may take up a significant amount of land and cause land degradation or habitat loss for wildlife. While solar PV systems can be fixed to already existing structures, larger utility-scale PV systems may require up to 3.5 to 10 acres per megawatt and CSP facilities require anywhere from 4 to 16.5 acres per megawatt. However, the impact can be reduced by placing facilities in low-quality areas or along existing transportation and transmission corridors.
Certain solar technologies require rare materials in their production. This, however, is primarily a problem for PV technology rather than CSP technology. Also, it is not so much a lack of known reserves as much as it is the inability of current production to meet future demand: Many of the rare materials are byproducts of other processes rather than the focus of targeted mining efforts. Recycling PV material and advances in nanotechnology that increase solar-cell efficiency could both help boost supply, but perhaps finding material substitutes that exist in greater abundance could play a role.
The one environmental downside to solar technology is that it contains many of the same hazardous materials as electronics. As solar becomes a more popular energy source, the problem of disposing the hazardous waste becomes an additional challenge. However, assuming the challenge of proper disposal is met, the reduced greenhouse gas emissions that solar energy offers make it an attractive alternative to fossil fuels.
The largest solar energy plant in the entire world is located in Rajasthan, India. The Bhadla Solar Park, which was completed in April , boasts some impressive statistics. The plant occupies 10,000 acres and has an installed capacity of 2,245 megawatts. The total investment in the project is estimated to be around $1.4 billion.
The largest solar park in the United States is known as the Solar Star park near Rosamond, California. The power station consists of two separate installations named Solar Star-1 and Solar Star-2, with respective capacities of 314MW and 265MW. Like the plant in India, the location was selected due to its large exposure to the sun and minimal rain.
Both wind and solar energy are two of the fastest-growing sources of renewable energy. Both energy sources help to cut down pollution and offer alternatives to fossil fuels, however, there are notable differences between the two.
The turbines that power wind energy are less harmful to the environment than solar panels. Furthermore, they produce more electricity than solar panels and can be installed offshore. Unlike solar, wind energy can be harnessed both day and night. However, wind is an unpredictable energy source. Turbines are also quite noisy, and, like solar panels, require a lot of land space thus don't make sense for densely populated areas.
Ultimately, solar panels are the more powerful and predictable source of energy. They require less space, are less noisy, and can be installed on rooftops, etc. in densely populated areas.
Using solar energy for your home will save you money, increase your home value, help you become energy independent, and will decrease your carbon footprint. However, the large solar panels may alienate potential buyers. Furthermore, some HOA agreements may not allow you to install solar panels on your home.
Because installing solar panels increase the value of your home, they can also increase your property taxes. However, many states offer exemptions for residents. Check your county clerk's website for the most accurate, up-to-date information.
In nearly every case, installing solar panels will lower your monthly electric bill.
Yes. The federal solar investment tax credit, enacted in , provides a 26% tax credit for solar panels installed on residential and commercial properties.
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