Solar PV - Photovoltaic
Solar PV is a power technology that uses solar photovoltaic panels to convert light from the sun directly into electricity “kWh”. Solar panels will output a certain amount of kWh, which is determined by how intense the sunlight is. PV Solar Cells will generate an increased amount of kWh when it is a sunny day than when it’s cloudy day. However PV solar panels do not need to be in direct sunlight to work, so even on overcast days PV solar cells will be generating electricity. Properly sized Interconnected and net metered solar PV for real estate, is effective, profitable and adds value to eal estate owners.
Fact 1
Solar power is the most abundant energy source on Earth. There’s enough solar energy hitting the Earth every hour to meet all of humanity’s power needs for an entire year.
Fact 2
Solar panel costs have fallen 99% since 1977. In 1977, it cost $77 per watt for a simple solar cell. According to Solar Energy Industries Association and GTM Research’s Q3 2019 Solar Market Insight Report, the cost of a solar cell now is $0.21 per watt. An entire assembled module is $0.39 per watt.
Fact 3
Solar Energy is cheaper than fossil fuels. According to Lazard’s Levelized Cost Of Energy Analysis–Version 11.0, solar energy costs as little as 4.3 cents per kWh on an unsubsidized basis, cheaper than nearly every option for new fossil-fuel power plants. The cheapest fossil fuel option is natural gas, which costs between 5.2 and 7.8 cents per kWh.
Fact 4
Not only will solar panels last 40 or 50 years, the infrastructure around a solar power plant has a lot of value. Solar panels could be replace with new, more efficient modules at relatively low cost, thus improving performance, but once a site is established and the infrastructure is built, a solar power plant has a very long effective lifespan.
Fact 5
Solar accounted for 40% of all new electric generating capacity in the U.S. in 2019, its highest share ever and more than any other source of electricity, with 13.3 gigawatts (GW) installed.
Fact 6
Solar is the fastest energy source to deploy. When disaster strikes, no electricity source can be built or repaired as quickly as solar — as the situation in Puerto Rico following this year’s hurricanes demonstrated. Tesla and others were able to build small solar power plants with energy storage capabilities on the island in a matter of weeks. No fossil-fuel power plant, nor any other renewable energy facility, could have been brought only so quickly.