In 2004, the German government introduced the first large-scale feed-in tariff system, under the German Renewable Energy Act, which resulted in explosive growth of PV installations in Germany. At the outset the FIT was over 3x the retail price or 8x the industrial price. The principle behind the German system is a 20-year flat rate contract. The value of new contracts is programmed to decrease each year, in order to encourage the industry to pass on lower costs to the end users. The programme has been more successful than expected with over 1GW installed in 2006, and political pressure is mounting to decrease the tariff to lessen the future burden on consumers.
Another economic measure, closely related to the energy payback time, is the energy returned on energy invested (EROEI) or energy return on investment (EROI), which is the ratio of electricity generated divided by the energy required to build and maintain the equipment. (This is not the same as the economic return on investment (ROI), which varies according to local energy prices, subsidies available and metering techniques.) With expected lifetimes of 30 years, the EROEI of PV systems are in the range of 10 to 30, thus generating enough energy over their lifetimes to reproduce themselves many times (6–31 reproductions) depending on what type of material, balance of system (BOS), and the geographic location of the system.
Responsible development of all of America’s rich energy resources -- including solar, wind, water, geothermal, bioenergy & nuclear -- will help ensure America’s continued leadership in clean energy. Moving forward, the Energy Department will continue to drive strategic investments in the transition to a cleaner, domestic and more secure energy future.
Photovoltaics (PV) uses solar cells assembled into solar panels to convert sunlight into electricity. It's a fast-growing technology doubling its worldwide installed capacity every couple of years. PV systems range from small, residential and commercial rooftop or building integrated installations, to large utility-scale photovoltaic power station. The predominant PV technology is crystalline silicon, while thin-film solar cell technology accounts for about 10 percent of global photovoltaic deployment. In recent years, PV technology has improved its electricity generating efficiency, reduced the installation cost per watt as well as its energy payback time, and has reached grid parity in at least 30 different markets by 2014. Financial institutions are predicting a second solar "gold rush" in the near future.
I ask Gore about the lessons he takes from Georgetown. “I think it’s important to pay attention to a CPA who becomes a mayor and takes an objective look at how he can save money for the citizens of his community, even if it means ignoring ideological presuppositions about fossil energy. Especially when the mayor in question is in the heart of oil and gas country.”
Renewable energy resources and significant opportunities for energy efficiency exist over wide geographical areas, in contrast to other energy sources, which are concentrated in a limited number of countries. Rapid deployment of renewable energy and energy efficiency, and technological diversification of energy sources, would result in significant energy security and economic benefits. It would also reduce environmental pollution such as air pollution caused by burning of fossil fuels and improve public health, reduce premature mortalities due to pollution and save associated health costs that amount to several hundred billion dollars annually only in the United States. Renewable energy sources, that derive their energy from the sun, either directly or indirectly, such as hydro and wind, are expected to be capable of supplying humanity energy for almost another 1 billion years, at which point the predicted increase in heat from the sun is expected to make the surface of the earth too hot for liquid water to exist.
Several large-scale energy storage suggestions for the grid have been done. Worldwide there is over 100 GW of Pumped-storage hydroelectricity. This improves efficiency and decreases energy losses but a conversion to an energy storing mains electricity grid is a very costly solution. Some costs could potentially be reduced by making use of energy storage equipment the consumer buys and not the state. An example is batteries in electric cars that would double as an energy buffer for the electricity grid. However besides the cost, setting-up such a system would still be a very complicated and difficult procedure. Also, energy storage apparatus' as car batteries are also built with materials that pose a threat to the environment (e.g. Lithium). The combined production of batteries for such a large part of the population would still have environmental concerns. Besides car batteries however, other Grid energy storage projects make use of less polluting energy carriers (e.g. compressed air tanks and flywheel energy storage).
The energy in the wind goes up with the cube of the wind speed. Double the wind speed and you have 2 * 2 * 2 = 8 times the energy! Sit back and let the full weight of that sink in for a moment: It means that even a small difference in annual average wind speed will make a BIG difference in how much your wind turbine will produce: Putting that turbine in a place that has just 10% more wind will net you 1.1 * 1.1 * 1.1 = 1.33 = a full 33% more energy!
Climate change concerns coupled with high oil prices and increasing government support are driving increasing rates of investment in the sustainable energy industries, according to a trend analysis from the United Nations Environment Programme. According to UNEP, global investment in sustainable energy in 2007 was higher than previous levels, with $148 billion of new money raised in 2007, an increase of 60% over 2006. Total financial transactions in sustainable energy, including acquisition activity, was $204 billion.
Solar power is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV), indirectly using concentrated solar power, or a combination. Concentrated solar power systems use lenses or mirrors and tracking systems to focus a large area of sunlight into a small beam. Photovoltaic cells convert light into an electric current using the photovoltaic effect.