Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Solar power much cheaper to produce than most analysts realize, study finds

08.12.2011
The public is being kept in the dark about the viability of solar photovoltaic energy, according to a study conducted at Queen’s University.

“Many analysts project a higher cost for solar photovoltaic energy because they don’t consider recent technological advancements and price reductions,” says Joshua Pearce, Adjunct Professor, Department of Mechanical and Materials Engineering. “Older models for determining solar photovoltaic energy costs are too conservative.”

Dr. Pearce believes solar photovoltaic systems are near the “tipping point” where they can produce energy for about the same price other traditional sources of energy.

Analysts look at many variables to determine the cost of solar photovoltaic systems for consumers, including installation and maintenance costs, finance charges, the system’s life expectancy, and the amount of electricity it generates.

Dr. Pearce says some studies don’t consider the 70 per cent reduction in the cost of solar panels since 2009 . Furthermore, he says research now shows the productivity of top-of-the-line solar panels only drops between 0.1 and 0.2 percent annually, which is much less than the one per cent used in many cost analyses.

Equipment costs are determined based on dollars per watt of electricity produced. One 2010 study estimated the this cost at $7.61, while a 2003 study set the amount at $4.16. According to Dr. Pearce, the real cost in 2011 is under $1 per watt for solar panels purchased in bulk on the global market, though he says system and installation costs vary widely.

Dr. Pearce has created a calculator program available for download online that can be used to determine the true costs of solar energy.

The Queen’s study was co-authored by grad students Kadra Branker and Michael Pathak and published in the December edition of Renewable and Sustainable Energy Reviews.

Michael Onesi | EurekAlert!
Further information:
http://www.queensu.ca

More articles from Power and Electrical Engineering:

nachricht Nano-scale process may speed arrival of cheaper hi-tech products
09.11.2018 | University of Edinburgh

nachricht Nuclear fusion: wrestling with burning questions on the control of 'burning plasmas'
25.10.2018 | Lehigh University

All articles from Power and Electrical Engineering >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: A Chip with Blood Vessels

Biochips have been developed at TU Wien (Vienna), on which tissue can be produced and examined. This allows supplying the tissue with different substances in a very controlled way.

Cultivating human cells in the Petri dish is not a big challenge today. Producing artificial tissue, however, permeated by fine blood vessels, is a much more...

Im Focus: A Leap Into Quantum Technology

Faster and secure data communication: This is the goal of a new joint project involving physicists from the University of Würzburg. The German Federal Ministry of Education and Research funds the project with 14.8 million euro.

In our digital world data security and secure communication are becoming more and more important. Quantum communication is a promising approach to achieve...

Im Focus: Research icebreaker Polarstern begins the Antarctic season

What does it look like below the ice shelf of the calved massive iceberg A68?

On Saturday, 10 November 2018, the research icebreaker Polarstern will leave its homeport of Bremerhaven, bound for Cape Town, South Africa.

Im Focus: Penn engineers develop ultrathin, ultralight 'nanocardboard'

When choosing materials to make something, trade-offs need to be made between a host of properties, such as thickness, stiffness and weight. Depending on the application in question, finding just the right balance is the difference between success and failure

Now, a team of Penn Engineers has demonstrated a new material they call "nanocardboard," an ultrathin equivalent of corrugated paper cardboard. A square...

Im Focus: Coping with errors in the quantum age

Physicists at ETH Zurich demonstrate how errors that occur during the manipulation of quantum system can be monitored and corrected on the fly

The field of quantum computation has seen tremendous progress in recent years. Bit by bit, quantum devices start to challenge conventional computers, at least...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

VideoLinks
Industry & Economy
Event News

“3rd Conference on Laser Polishing – LaP 2018” Attracts International Experts and Users

09.11.2018 | Event News

On the brain’s ability to find the right direction

06.11.2018 | Event News

European Space Talks: Weltraumschrott – eine Gefahr für die Gesellschaft?

23.10.2018 | Event News

 
Latest News

Epoxy compound gets a graphene bump

14.11.2018 | Materials Sciences

Microgel powder fights infection and helps wounds heal

14.11.2018 | Health and Medicine

How algae and carbon fibers could sustainably reduce the athmospheric carbon dioxide concentration

14.11.2018 | Life Sciences

VideoLinks
Science & Research
Overview of more VideoLinks >>>