Is Solar Power Worth It?

Sunlight is free, but harnessing that radiant heat energy and converting it into usable solar power costs a pretty penny.
Jeffrey Grossman, an engineer with Massachusetts Institute of Technology, has developed a 3-D solar cell model that could capture up to two and a half times more sunlight than flat panel photovoltaics arrays. A photovoltaic system (or PV system) is a system which uses one or more solar panels to convert sunlight into electricity. It consists of multiple components, including the photovoltaic modules, mechanical and electrical connections and mountings and means of regulating and/or modifying the electrical output.The 3-D shapes eliminate the need for the panels to tilt to follow the sun’s path, resulting in a relatively constant power input throughout the day. The California Energy Commission recently calculated the average cost of installing a commercial solar power system at $4.85 per watt, which represents a roughly 50 percent reduction from only five years ago.

Materials handling and manufacturing, production efficiency and installation all drive up the price of photovoltaic solar array systems, those sun-catching panels installed on roofs. Once in place, the amount of sunlight and array performance will determine how much of a return on investment solar power systems generate.

There is no perfect energy solution when all the variables are taken into consideration.  Issues related to materials cost and composition, reliability, efficiency, and even pollution all come into play. By reviewing the disadvantages of solar energy, we’ll see that there are actually more advantages to it than other traditional sources of power.
Despite the fact that there are generous tax incentives and rebates available, the upfront cost of purchasing and installing solar panels may be prohibitive for some people. Some people may think, why change from cheap fossil-fuels that are already at the front door.
Whether your house is shaded by trees or other buildings, or if its just plain not very sunny in your hometown, your solar panels will need some sunlight filtered or direct each day. Add to this requirement the need for decent space for a solar panel installation. This clean renewable energy source has a dirty little secret?  Most PV solar panels are made from silicon and include potentially toxic metals such as lead, mercury and cadmium.
Currently, most solar panels have a 40% efficiency rate.  That means that 60% of the potential energy from the sun is not harnessed.  Some higher-tech, advanced solar panels have increased efficiency of up to 80%.  Each year, more technological advancements are announced, however, that increase efficiency and decrease cost.



Although other types of cutting-edge solar power systems, including concentrated photovoltaics and solar thermal power, hold particular advantages, technology innovations for photovoltaic array systems are also contributing to a bright future for solar energy in the United States. “Where you have good sunlight and access to financing and a combination of federal and state incentives, you have a number of markets around the country that are very vibrant, and it’s very cost-effective with financial paybacks in the order of five and 10 years,” said Robert Margolis, a senior energy analyst at National Renewable Energy Laboratory (NREL).

“The sun provides to the Earth that entire 3 trillion barrels worth of oil energy in just two days,” Grossman said. “And yet, tapping into this enormous power to generate electricity is the least utilized renewable energy resource today.

Paying that extra money today, however, could serve as a crucial investment to protect our environmental future.

FACTS

1. The California Energy Commission recently calculated the average cost of installing a commercial solar power system at $4.85 per watt, which represents a roughly 50 percent reduction from only five years ago.
http://news.discovery.com/tech/is-solar-power-worth-it.html

2. “Where you have good sunlight and access to financing and a combination of federal and state incentives, you have a number of markets around the country that are very vibrant, and it’s very cost-effective with financial paybacks in the order of five and 10 years,”

http://news.discovery.com/tech/is-solar-power-worth-it.html
3. The California Energy Commission recently calculated the average cost of installing a commercial solar power system at $4.85 per watt, which represents a roughly 50 percent reduction from only five years ago.http://news.discovery.com/tech/is-solar-power-worth-it.html