Solar photovoltaic (PV) energy offers a number of advantages over other traditional and renewable energy sources. In addition to delivering peak energy at prices competitive to natural gas, solar PV can avoid costly transmission and capital upgrades and can be rapidly scaled.
Generating Energy When It's Most Needed
During a typical summer day, electricity demand grows to a peak in the late afternoon, driven by maximum industrial load and air conditioning. A unique and desirable feature of solar PV is that its generation profile closely parallels electricity demand, with its maximum output coming in the early afternoon of hot summer days. When deployed as part of the peak generating capacity, a utility-scale solar farm can reduce the overall peak generation cost and overall carbon emissions for a utility.
Solar PV Reaching Peak Parity in the U.S.
Since there are no fuel costs associated with solar PV, the primary determinants of electricity cost are the amount of sunlight available, the installed capital cost per watt, and the financing costs for the solar installation. The key inflection point for solar PV is when the cost of electricity generated by solar reaches parity with peak and intermediate generation costs from the existing grid.
Clean, Renewable and Sustainable
In addition to being a limited resource, traditional hydrocarbon fuels are negatively impacting our environment, so finding clean, renewable sources of energy is critical. Solar PV produces abundant, clean, affordable, renewable energy without harmful emissions or greenhouse gases. Because solar fuel is unlimited and free, once the PV panels are installed, they will continue to produce essentially free energy for decades.
Meets Peak Energy Demand
Solar PV is generated in a pattern that mirrors electricity demand, with its maximum output coming in the early afternoon of hot summer days. This unique capability of solar PV can contribute significantly to reducing overall peak energy generation cost. Find out more.
Cost Competitive
Solar PV has already achieved peak parity in several locations, and, within 10 years, it is expected to be cost competitive in most regions of the U.S. on a wholesale and retail basis.
5.7m²: The New Standard
Read more about the unique benefits of the largest solar photovoltaic panel in the industry
Download PDFSource: Barclay's Capital Research, Energy Information Administration (EIA), May 2009
Offers Rapid Deployment
Solar PV is already demonstrating quick ramp-up capability. Because it is a distributed energy source, solar PV can be located where most peak energy is needed -- without the time or expense of building major new transmission or distribution facilities. It is an immediate solution – as soon as a solar panel is installed, it generates electricity.
Scalable at the Lowest Cost
As solar panel manufacturing technology continues to advance, solar PV panels will become less expensive to produce, capital costs for solar manufacturing facilities will decrease, and production volumes will increase. Other sources of electricity face rising costs and extensive infrastructure requirements in order to scale, which give solar definite advantages as part of a diversified energy portfolio.
