“[The maps] suggest that our 100 percent renewable energy purchasing goal — which relies on buying surplus renewable energy when it’s sunny and windy, to offset the lack of renewable energy supply in other situations — is an important first step toward achieving a fully carbon-free future,” Michael Terrell, Google’s head of energy markets, wrote in a blog post. “Ultimately, we aspire to source carbon-free energy for our operations in all places, at all times.”
The PV industry is beginning to adopt levelized cost of electricity (LCOE) as the unit of cost. The electrical energy generated is sold in units of kilowatt-hours (kWh). As a rule of thumb, and depending on the local insolation, 1 watt-peak of installed solar PV capacity generates about 1 to 2 kWh of electricity per year. This corresponds to a capacity factor of around 10–20%. The product of the local cost of electricity and the insolation determines the break even point for solar power. The International Conference on Solar Photovoltaic Investments, organized by EPIA, has estimated that PV systems will pay back their investors in 8 to 12 years. As a result, since 2006 it has been economical for investors to install photovoltaics for free in return for a long term power purchase agreement. Fifty percent of commercial systems in the United States were installed in this manner in 2007 and over 90% by 2009.
Besides the greening of fossil fuel and nuclear power plants, another option is the distribution and immediate use of power from solely renewable sources. In this set-up energy storage is again not necessary. For example, TREC has proposed to distribute solar power from the Sahara to Europe. Europe can distribute wind and ocean power to the Sahara and other countries. In this way, power is produced at any given time as at any point of the planet as the sun or the wind is up or ocean waves and currents are stirring. This option however is probably not possible in the short-term, as fossil fuel and nuclear power are still the main sources of energy on the mains electricity net and replacing them will not be possible overnight.
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.