Today, Solar power is the most reliable and affordable source of electricity implementing countrywide development to reduce global warming pollution, which makes country cleaner, saving fuel costs as well. Usually small-scale Solar photovoltaic (PV) systems, focusing on building roofs, whereas large-scale PV systems and Concentrating Solar power (CSP) systems represent the majority of Solar’s complete electricity-generating capacity. Solar Power has the capability to provide a significant amount of electricity in both environmentally as well as economically attractive.
Solar Power is increasingly affordable
It has been observed that the prices for rooftop PV systems have declined markedly in recent years. The rising profit is a result of decrease technology prices, innovative financing, and developed networks of Solar installers and financial partners. However, Solar consumers are paying very little; Tax credits, rebates, and other support in leading states could cut the total costs of a rooftop system to under $10,000, which will supply electricity with a fixed rate for a longer period of time. Large-scale PV project costs have fallen more than household systems, 60 percent less than residential Solar on a per-watt basis. And about CSP system the costs are not reduced as like small scale PV or Large scale PV, but it’s capable of being storage of sun’s energy as heat, so that it can utilize when there is no sunlight.
Feasible Solar Power in Northern Climates
PV generation requires the amount of sunlight, which differs by less than 30% for a few countries, still making Solar power feasible in northern climates. Whereas in sunny locations like Los Angeles or Phoenix a five-kilowatt home rooftop PV system produces an around 7,000 to 8,000 kilowatt-hours per year, which is approximately similar to the electricity use of a typical U.S. household. These same systems in Portland, Maine (in northern climates) would produce 85 % of what it would in Los Angeles, 95 % of what it would in Miami, and 6% more than it would in Houston. Florida and Hawaii (in the southwest) is the best example for CSP.
Rapid growth of Solar Power
According to the Solar Energy Industries Association and GTM Research, the U.S. Solar power grew by 6.2 gigawatts in 2014, a 30 percent increase over the previous year and representing nearly $18 billion in new investment. Before 2014, the United States had more than 480,000 Solar systems installed, adding up to 13,400 megawatts (MW), sufficient to generate 2.4 million typical U.S. households. In 2013 the U.S. Solar industry hired more than 140,000 people that is a 53% raise over 2010, and almost $15 % investment in the U. S. Economy yearly. Today, there are more than 6,000 Solar companies in the U.S, penetrating over all 50 states.
Rooftop Solar not only improving the environment of the company, but also reduces the operating costs and PV systems create electricity without water, unlike coal, nuclear, and other power plants. Similarly, Solar panel creates electricity without air or carbon pollution, solid waste or resources other than sunlight.
Few steps to support Solar power accelerated growth
What is the important focus now on this rising situation? First and most important is each state should maintain and need to increase the strength in their key policies for operating the renewable energy investments, including Solar. The next important thing is the federal investment tax credit for Solar’s move is set to reduce at the end of 2016 from 30% to 10%; Each state need to clinch about Solar that plays a vital role in their plants to lessen emissions to follow with the Environmental Protection Agency’s new carbon standards. Rooftop Solar will help policy makers to elect the most suitable way to help other people for Solar adoption. Storage of energy will assist you at the time of the blackout. Companies should provide shelter from rooftop to large-scale projects so that it could reshape their business models and get benefited by reducing costs through substantial economies of scale, increasing cell and module efficiencies, enhanced inverters and mounting systems, fine heat transfer, and streamlined transactions.
Solar prevails over wind and coal
According to Researchers, it has been mentioned that coming five years in the U.S. PV market, the U.S. PV market which does not include concentrated Solar plants has indicated by four times more developed than Wind Energy and Coal. The natural gas added greater share of new generating capacity. It has been expected a monumental growth in California and Arizona market where Newly implemented regions include Virginia, the Carolinas, Georgia and Louisiana.
Retail rate parity is also being increased from last year and expanded beyond California and followed by Nevada, Massachusetts, Arizona and New Jersey, made an organized Solar market.
New Mexico, Missouri and Maryland are also rapidly growing in Solar implementation. New Mexico’s 88MW gain in Solar capacity made it top 10 state for Solar development last year. New York, Texas and Hawaii added more than 100 MW of Solar capacity. In the regions of Southeast, Georgia and Tennessee observed increase in utility-scale Solar, at the same time Louisiana and South Carolina achieved continuous growth in the residential Solar sector.
From last year it has been observed that Residential PV continues to be the rapidly growing market segment in the U.S. Solar sector, managing three continuous years a successive annual growth.