P2 Opportunities

installing solar panels are changing tastes and preferences of consumer. As Energy Sage (n.d.) stated,

Keeping in mind the end goal to accomplish this objective of cleaner energy I propose the plan of solar panels on government structures in New Jersey. With your organizations financing, backing, and administrative resources, I am certain that this target can be accomplished. Currently, "regular gas is giving expanding measures of power, with coal and renewables creating under one-tenth of

Do you really think it’s a good idea to go solar, or do you think the company is trying to scam you? We all have some questions that are going to help us find out if solar is the great idea, or if the district,school,community taxes will just lose money for no apparent reason, just for the company to get even more money they they already

Solar energy is power obtained by harnessing the energy of the sun's rays, and turning it into clean energy, In Southern California, we are very lucky because we live in a climate that has a lot of sunny days. Solar panels could be put on the roof of the buildings, in the glass windows, on the sidewalk, and disguise them in fake palm trees as leaves, which also creates more shade.. I think it would be really creative to put solar

The cost of installing solar panels can vary greatly, but its long term benefits outweigh the costs. Typically a solar panel system is a three kilowatts to eight kilowatts system that cost fifteen thousand to forty thousand dollars to install, total cost depends on circumstances of installation. However tax credits and incentives help recoup a portion of the cost in the first year, the savings of electricity cost makes installing the system profitable in under 10 years (Maehlum). Purchasing the system requires a large loan, however paying the loan can be substantially better than paying utility bills when the investment will eventually be paid for. If the system is large enough to handle the requirements of the household, the only payment for electricity will be the cost of the loan. Making loan payments instead of paying utility bills is predictable, and any excess energy will be used as a credit for months were the owner 's energy use may exceed the generated amount. Within10 years of financing the solar panels, the cost of the solar panels will already made up by the cost savings from not paying for utility

will be just as cheap to produce electricity from solar power as it will from

If power plants make minuscule changes to their production and facilities, electric companies will show a small fixed and variable cost in the income statement. Even if they have to produce a new facility, the benefits will outweigh the cost, and the new plants will be paid for in a short amount of time. The resident or business installs the solar panels, so the only cost the electric company has are the loss from the rebates. With this, they will not have to change their facilities, and yet they will still make somewhat of a profit. Immediately expensing the cost of building a new electrical system, by solar panels or through a geothermal system, for example, will not immediately affect how much electricity is produced.

Despite the solar stadium boom, there are dissenting viewpoints about the direct economic benefit; one perspective maintains that solar panels increase profit margins by reducing energy costs. In a 2010 press release, the NRDC stated that, “in most American cities, solar panels can pay for themselves” (“US Stadiums Go Solar”). This breakeven estimate may be conservative: a 500-kilowatt solar system can cost as little as $2.28 million to install (Gelsi); and the Philadelphia Eagles anticipate saving $60 million over 20 years with their solar and wind system (Bauers). Additionally, solar panels are becoming more affordable with the emergence of “power-purchase agreements,” which allow stadiums to purchase “the power generated by the panels, rather than owning them” (Gelsi). Solar profit margins are also likely to expand “as energy prices continue to rise and solar panel efficiencies increase” (“Why Install Solar”).

In addition, solar energy operational costs are manageable. It is free from monthly charges compared to conventional sources of energy. Solar energy does not require raw materials such as oil and coal, and once the panels are built, there will be no monthly charges. In addition, the prices of fossil fuels are increasing day by day, and this means conventional energy will be very expensive. Solar energy will remain the most capable world’s future power supply because, it is cost effective once the plants are built, and there will be no transport costs like for conventional energy sources. Therefore, solar energy is cost-effective, and will help in future energy supply, as the maintenance cost is affordable, as long as they are installed properly, and are working efficiently ( Hans, 2012). Furthermore, with the improvement and advancement of technology, it will increase its efficiency, and cost of production thus, making it more cost effective and the world’s best

Many individuals are concerned with renewable energy. They believe it provides a reduction in utility consumption and cost. They also believe government subsidies, and environmental preservation makes the idea more attractive to potential clients. However, entry to the PV system installation market is not without financial risk.

Feed-in tariffs as well as feed-in premiums supported renewable electricity generation. These rates were guaranteed for 20 years with hydropower generators’ rates being guaranteed for 30 years. Additionally, investment support and green bonuses were given to renewable heating sources. Furthermore, a sharp decline in the prices of solar panels led the Czech Republic to become the 4th largest in terms of newly installed photovoltaic systems (5).

Last week, the world’s largest solar power facility opened in California, to the tune of $2.2 billion (Blood & Skoloff). The Ivanpah Solar Electric Generating System is the latest in the Obama Administration’s SunShot initiative, a drive towards cleaner American energy. The goal of the initiative is solar energy that costs $0.06 per kilowatt hour (KWh), a yield more efficient than traditional fossil fuels. Critics of solar technology argue the steep costs as a barrier to entry as well as low-efficiency. Regardless, solar energy is a worthwhile venture in today’s ultracompetitive energy marketplace because of its cost-effective and simple solution to today’s energy crisis.

Although the initial costs of solar panels may seem daunting, when payback time rolls around years down the road, people would end up saving thousands of dollars. Residential solar systems are typically sized from 3 to 8kW and end up costing somewhere between $15,000 and $40,000 because of the solar panels, balance of systems, labor, permits and inspections fees, and operational costs (Maehlum 1). According to the US Department of Energy, most solar systems pay for themselves within five years. In some states, the payback time can be as little as three years (Maehlum 6). In 28 years, one could save from $15,000 to $64,000 over the course of twenty years depending on where one lives (Maehlum 5). Even in places that aren 't particularly sunny, financial incentives are set

Solar panels use specific materials which take this heat and turn the thermal energy into electricity. This is called solar power. These solar panels are mounted on higher structures like roofs and buildings, but can also be placed on an open field. There is no specific place to install one, as long as it can receive direct sunlight. Solar panels can be used to heat and cool homes and buildings, reduce monthly utilities costs, power all appliances in the house all while producing no waste due to the renewable energy. Being able to produce electricity at a lower cost than fossil fuels, all while using energy from an unlimited source that is renewable with no need to find waste facilities to dump the remains in is what make solar panels great.

The Minister of Power, Prof. Chinedu Nebo announced Nigeria needs 160,000 MW in order to reach globally accepted standards and satisfy the demand for stable supply for the 170 million Nigerians. According to Bloomberg, Nigeria generates a tenth of the amount of electricity produced by South Africa despite the fact that its population is three times more [1]. Apart from the fact that the costs of solar panels, depends on their power output or watt per hour which can be done by dividing the total electric bill by the amount of hours of usage, the cost of solar panels relies on the budget of an individual, installation costs which consists of the solar panels and balance of they system. Then operational costs, which consists of labor fees, monitoring, repair, insurance, overhead costs, maintenance, inspection fees and permits fees, and then the costs of the individual components of the solar panel system. In America, solar systems meant for homes are usually sized from 3 to 8kW, which costs from $15,000 to $40,000. The solar panels take up 30% of the total costs [2]. To better evaluate the cost of solar panels, we can measure the cost per watt, which indicates the cost in relation to the power output of electricity. The balance of the system, which is part of the installation costs, refers to the components of the solar systems, excluding the solar panels. This includes the inverters, which account for 10% of the total cost, wiring, and the electrical components. Balance of the