In cases of self consumption of the solar energy, the payback time is calculated based on how much electricity is not purchased from the grid. For example, in Germany, with electricity prices of 0.25 €/kWh and insolation of 900 kWh/kW, one kWp will save €225 per year, and with an installation cost of 1700 €/KWp the system cost will be returned in less than seven years. However, in many cases, the patterns of generation and consumption do not coincide, and some or all of the energy is fed back into the grid. The electricity is sold, and at other times when energy is taken from the grid, electricity is bought. The relative costs and prices obtained affect the economics. In many markets, the price paid for sold PV electricity is significantly lower than the price of bought electricity, which incentivizes self consumption. Moreover, separate self consumption incentives have been used in e.g. Germany and Italy. Grid interaction regulation has also included limitations of grid feed-in in some regions in Germany with high amounts of installed PV capacity. By increasing self consumption, the grid feed-in can be limited without curtailment, which wastes electricity.
Jump up ^ Artificial photosynthesis as a frontier technology for energy sustainability. Thomas Faunce, Stenbjorn Styring, Michael R. Wasielewski, Gary W. Brudvig, A. William Rutherford, Johannes Messinger, Adam F. Lee, Craig L. Hill, Huub deGroot, Marc Fontecave, Doug R. MacFarlane, Ben Hankamer, Daniel G. Nocera, David M. Tiede, Holger Dau, Warwick Hillier, Lianzhou Wang and Rose Amal. Energy Environ. Sci., 2013, Advance Article doi:10.1039/C3EE40534F
Electricity for my off-grid cabin comes from solar and wind power stored in a bank of four 6-volt golf cart batteries wired for a 12-volt system. A charge controller and battery minder keep my system from under- or overcharging. The whole shebang cost me less than $1,000, and I have lights, fans, a television and stereo, refrigeration, and a disco ball that goes up for special occasions.
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.
Many industrialized nations have installed significant solar power capacity into their grids to supplement or provide an alternative to conventional energy sources while an increasing number of less developed nations have turned to solar to reduce dependence on expensive imported fuels (see solar power by country). Long distance transmission allows remote renewable energy resources to displace fossil fuel consumption. Solar power plants use one of two technologies: