With the consistently increasing threat of climate change owing to the excessive release of carbon emissions, a number of countries are exploring clean energy alternatives that can replace traditional fossil fuels. Solar energy is one of the most popular clean energy alternatives on the planet. It helps reduce the reliance on fossil fuels and alleviates strain on limited resources. Paul Favret mentions that the prices associated with solar panel installation have also become relatively affordable today, making the use of solar power feasible for many homes and businesses around the globe.
The biggest and the most obvious advantage of solar energy is a sustainable alternative to fossil fuels. While fossil fuels have expiration dates that might be approaching steadily, the sun is likely to be around for a few billion years at least. Furthermore, solar energy has a considerably lesser impact on the environment as opposed to fossil fuels. Any greenhouse gas emissions linked with solar energy are almost inconsequential as this technology does not require any such fuel combustion. Even though concentrating solar thermal plants (CSP) are not always effective in their water usage depending on the type of technology being used, proper implementation of the system would majorly increase its efficiency. Photovoltaic (PV) solar cells do not require any water when generating electricity.
Solar and wind energy are two of the most rapidly growing sources of renewable energy. They are viable alternatives to fossil fuels and help in managing climate change. However, there are a few important differences between the two. Wind turbines do produce more electricity than solar panels and can be installed offshore. However, the wind is not a predictable source of energy. Wind turbines are also pretty noisy, and take up a lot of space. It is difficult to use wind turbines in densely populated areas due to the lack of availability of adequate open space. On the other hand, solar panels can be installed in almost any building. Solar panels are a more powerful source of energy as well.
Lower electricity bills are one of the key advantages of solar energy that attracts both homeowners and businesses towards the implementation of this power source at their buildings. While the initial costs of solar panel installation can be a bit expensive, it shall provide great value for money in the long run. When the energy needs of a building is met by the sunlight, its energy bills will drop significantly.
The electricity costs in several countries have been increasing for last decade or so, and this trend is likely to continue in the coming years. Solar power service agreements can offer low and predictable rates that are usually lesser than the typical electric company’s rates. Paul Favret mentions that in some regions, solar-powered batteries can also buffer people from peak electric rates, or Time-of-Use (TOU) rates. These rates are set by the local electricity companies. Paul has been a part of the energy industry for years, and hence is well-acquainted with its varied aspects.