Photovoltaic systems use no fuel, and modules typically last 25 to 40 years. Thus, capital costs make up most of the cost of solar power. Operations and maintenance costs for new utility-scale solar plants in the US are estimated to be 9 percent of the cost of photovoltaic electricity, and 17 percent of the cost of solar thermal electricity. Governments have created various financial incentives to encourage the use of solar power, such as feed-in tariff programs. Also, Renewable portfolio standards impose a government mandate that utilities generate or acquire a certain percentage of renewable power regardless of increased energy procurement costs. In most states, RPS goals can be achieved by any combination of solar, wind, biomass, landfill gas, ocean, geothermal, municipal solid waste, hydroelectric, hydrogen, or fuel cell technologies.
As of 2018, American electric utility companies are planning new or extra renewable energy investments. These investments are particularly aimed at solar energy, thanks to the Tax Cuts and Jobs Act of 2017 being signed into law. The law retained incentives for renewable energy development. Utility companies are taking advantage of the federal solar investment tax credit before it permanently goes down to 10% after 2021. According to the March 28 S&P Global Market Intelligence report summary, "NextEra Energy Inc., Duke Energy Corp., and Dominion Energy Inc.’s utilities are among a number of companies in the sector contemplating significant solar investments in the near-term. Other companies, including Xcel Energy Inc. and Alliant Energy Corp., are undertaking large wind projects in the near-term, but are considering ramping up solar investments in the coming years."
Most current solar power plants are made from an array of similar units where each unit is continuously adjusted, e.g., with some step motors, so that the light converter stays in focus of the sun light. The cost of focusing light on converters such as high-power solar panels, Stirling engine, etc. can be dramatically decreased with a simple and efficient rope mechanics. In this technique many units are connected with a network of ropes so that pulling two or three ropes is sufficient to keep all light converters simultaneously in focus as the direction of the sun changes.
Solar panels converts the sun's light in to usable solar energy using N-type and P-type semiconductor material. When sunlight is absorbed by these materials, the solar energy knocks electrons loose from their atoms, allowing the electrons to flow through the material to produce electricity. This process of converting light (photons) to electricity (voltage) is called the photovoltaic (PV) effect. Currently solar panels convert most of the visible light spectrum and about half of the ultraviolet and infrared light spectrum to usable solar energy.
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There are potentially two sources of nuclear power. Fission is used in all current nuclear power plants. Fusion is the reaction that exists in stars, including the sun, and remains impractical for use on Earth, as fusion reactors are not yet available. However nuclear power is controversial politically and scientifically due to concerns about radioactive waste disposal, safety, the risks of a severe accident, and technical and economical problems in dismantling of old power plants.
Single small turbines below 100 kilowatts are used for homes, telecommunications dishes, or water pumping. Small turbines are sometimes used in connection with diesel generators, batteries, and photovoltaic systems. These systems are called hybrid wind systems and are typically used in remote, off-grid locations where a connection to the utility grid is not available.
The International Energy Agency projected in 2014 that under its "high renewables" scenario, by 2050, solar photovoltaics and concentrated solar power would contribute about 16 and 11 percent, respectively, of the worldwide electricity consumption, and solar would be the world's largest source of electricity. Most solar installations would be in China and India. In 2017, solar power provided 1.7% of total worldwide electricity production, growing at 35% per annum.