Alternatively, SRECs allow for a market mechanism to set the price of the solar generated electricity subsity. In this mechanism, a renewable energy production or consumption target is set, and the utility (more technically the Load Serving Entity) is obliged to purchase renewable energy or face a fine (Alternative Compliance Payment or ACP). The producer is credited for an SREC for every 1,000 kWh of electricity produced. If the utility buys this SREC and retires it, they avoid paying the ACP. In principle this system delivers the cheapest renewable energy, since the all solar facilities are eligible and can be installed in the most economic locations. Uncertainties about the future value of SRECs have led to long-term SREC contract markets to give clarity to their prices and allow solar developers to pre-sell and hedge their credits.
As the section above shows, anything under 5 m/s annual average wind speed is not going to be worth-while if you want any economic benefit out of a wind turbine. Even with government incentives, you would be better off with solar for most places. Let us take this a bit further, and assume your backyard is pretty windy, a full 6 m/s (13.4 mph) annual average wind speed at 100′ height. You get a 6 kW wind turbine installed, and shell out $50,000 for that privilege. If the installer did her job properly, the turbine is spinning in nice, clean, laminar air, and it will produce around 13,000 kWh per year. You are the kind of person that wins the lottery on a regular basis, marries a beauty queen (or king), and has kids that all go to ivy-league universities; your wind turbine never breaks and you do not have to shell out a single buck for maintenance over 20 years. Now your turbine has produced around 260,000 kWh of electricity, which works out to 19.2 cents per kWh in cost. Maybe you pay more than for electricity and it is worth it, but your are likely not getting rich, and any repairs and maintenance will drive that price up in a hurry.
The total number of commercial and industrial renewable energy deals will be even higher, as RMI's numbers refer only to contracts for large, off-site renewable energy projects. That means rooftop solar projects deployed by the likes of Ikea and Target are not included in the RMI deal tracker, which was updated this week at the Renewable Energy Buyers Alliance conference in Oakland, California.
A wide range of concentrating technologies exists: among the best known are the parabolic trough, the compact linear Fresnel reflector, the Stirling dish and the solar power tower. Various techniques are used to track the sun and focus light. In all of these systems a working fluid is heated by the concentrated sunlight, and is then used for power generation or energy storage. Thermal storage efficiently allows up to 24-hour electricity generation.
The key disadvantages include the relatively low rotational speed with the consequential higher torque and hence higher cost of the drive train, the inherently lower power coefficient, the 360-degree rotation of the aerofoil within the wind flow during each cycle and hence the highly dynamic loading on the blade, the pulsating torque generated by some rotor designs on the drive train, and the difficulty of modelling the wind flow accurately and hence the challenges of analysing and designing the rotor prior to fabricating a prototype.
Second-generation technologies include solar heating and cooling, wind power, modern forms of bioenergy and solar photovoltaics. These are now entering markets as a result of research, development and demonstration (RD&D) investments since the 1980s. The initial investment was prompted by energy security concerns linked to the oil crises (1973 and 1979) of the 1970s but the continuing appeal of these renewables is due, at least in part, to environmental benefits. Many of the technologies reflect significant advancements in materials.
Geothermal power plants can operate 24 hours per day, providing base-load capacity, and the world potential capacity for geothermal power generation is estimated at 85 GW over the next 30 years. However, geothermal power is accessible only in limited areas of the world, including the United States, Central America, East Africa, Iceland, Indonesia, and the Philippines. The costs of geothermal energy have dropped substantially from the systems built in the 1970s. Geothermal heat generation can be competitive in many countries producing geothermal power, or in other regions where the resource is of a lower temperature. Enhanced geothermal system (EGS) technology does not require natural convective hydrothermal resources, so it can be used in areas that were previously unsuitable for geothermal power, if the resource is very large. EGS is currently under research at the U.S. Department of Energy.
The heat that is used for geothermal energy can be from deep within the Earth, all the way down to Earth's core – 4,000 miles (6,400 km) down. At the core, temperatures may reach over 9,000 °F (5,000 °C). Heat conducts from the core to surrounding rock. Extremely high temperature and pressure cause some rock to melt, which is commonly known as magma. Magma convects upward since it is lighter than the solid rock. This magma then heats rock and water in the crust, sometimes up to 700 °F (371 °C).
These high strength magnets are usually made from rare earth materials such as neodymium iron (NdFe), or samarium cobalt (SmCo) eliminating the need for the field windings to provide a constant magnetic field, leading to a simpler, more rugged construction. Wound field windings have the advantage of matching their magnetism (and therefore power) with the varying wind speed but require an external energy source to generate the required magnetic field.
Thermal storage technologies allow heat or cold to be stored for periods of time ranging from hours or overnight to interseasonal, and can involve storage of sensible energy (i.e. by changing the temperature of a medium) or latent energy (i.e. through phase changes of a medium, such between water and slush or ice). Short-term thermal storages can be used for peak-shaving in district heating or electrical distribution systems. Kinds of renewable or alternative energy sources that can be enabled include natural energy (e.g. collected via solar-thermal collectors, or dry cooling towers used to collect winter's cold), waste energy (e.g. from HVAC equipment, industrial processes or power plants), or surplus energy (e.g. as seasonally from hydropower projects or intermittently from wind farms). The Drake Landing Solar Community (Alberta, Canada) is illustrative. borehole thermal energy storage allows the community to get 97% of its year-round heat from solar collectors on the garage roofs, which most of the heat collected in summer. Types of storages for sensible energy include insulated tanks, borehole clusters in substrates ranging from gravel to bedrock, deep aquifers, or shallow lined pits that are insulated on top. Some types of storage are capable of storing heat or cold between opposing seasons (particularly if very large), and some storage applications require inclusion of a heat pump. Latent heat is typically stored in ice tanks or what are called phase-change materials (PCMs).
The expansion is thanks largely to innovation on the policy front, which has opened up opportunities in regulated electricity markets. The number of corporate renewable energy deals signed under utility green tariff programs continues to grow, representing around 25 percent of corporate renewables procurement so far this year. At the same time, utilities are incorporating corporate renewables into their long-term planning — and thinking about solutions beyond green tariffs to better meet the needs of existing corporate customers and smaller loads.
Setting up a solar electric system is easy. The new source of power will integrate seamlessly with your existing utilities. Apart from settimg up the solar energy equipment, there will be no need to reconfigure or rewire your home. Our offerings include several pre-engineered, packaged systems for both residential and commercial applications, so there’s sure to be something that fits the needs of your home or business. Most solar panels last about 30 years, which means you will see the benefits of this new source of energy for decades to come.
In stand alone PV systems batteries are traditionally used to store excess electricity. With grid-connected photovoltaic power system, excess electricity can be sent to the electrical grid. Net metering and feed-in tariff programs give these systems a credit for the electricity they produce. This credit offsets electricity provided from the grid when the system cannot meet demand, effectively trading with the grid instead of storing excess electricity. Credits are normally rolled over from month to month and any remaining surplus settled annually. When wind and solar are a small fraction of the grid power, other generation techniques can adjust their output appropriately, but as these forms of variable power grow, additional balance on the grid is needed. As prices are rapidly declining, PV systems increasingly use rechargeable batteries to store a surplus to be later used at night. Batteries used for grid-storage stabilize the electrical grid by leveling out peak loads usually for several minutes, and in rare cases for hours. In the future, less expensive batteries could play an important role on the electrical grid, as they can charge during periods when generation exceeds demand and feed their stored energy into the grid when demand is higher than generation.
There are more specific questions you’ll have to ask yourself about your location and home—e.g., is my next-door neighbor’s oak tree going to block all my sunlight? You’ll also have to take local weather conditions into consideration. Luckily, there are plenty of other resources to help you find your solar potential. See our Tools section for more info.
By now you are probably thinking “why would these guys tell me the truth? They sell small wind turbines!”. Yup, guilty as charged. We also want happy customers, and the two are not reconcilable unless we are upfront with you, our customer. Truth is, wind turbine sales are a tiny part of our revenue, and while we would regret losing you, we will still be able to put food on our kids’ plates.
At the end of 2014, worldwide PV capacity reached at least 177,000 megawatts. Photovoltaics grew fastest in China, followed by Japan and the United States, while Germany remains the world's largest overall producer of photovoltaic power, contributing about 7.0 percent to the overall electricity generation. Italy meets 7.9 percent of its electricity demands with photovoltaic power—the highest share worldwide. For 2015, global cumulative capacity is forecasted to increase by more than 50 gigawatts (GW). By 2018, worldwide capacity is projected to reach as much as 430 gigawatts. This corresponds to a tripling within five years. Solar power is forecasted to become the world's largest source of electricity by 2050, with solar photovoltaics and concentrated solar power contributing 16% and 11%, respectively. This requires an increase of installed PV capacity to 4,600 GW, of which more than half is expected to be deployed in China and India.
It is hard to beat the advantages of solar: No moving parts. Warranties of 25 years are common for PV modules. No maintenance, other than the occasional hosing-off if you live in a dusty place. The installed price of a 6 kW wind turbine on a good height tower is about $50,000 (and we are not even counting the money you are going to sink into maintenance of that wind turbine). At the time of this writing, half that money will buy you about 7 kW of installed solar panels. In our not-so-sunny Ottawa location those solar modules will produce around 8,000 kWh of electrical energy per average year, and they will do that for 30 years or more.
Compact Linear Fresnel Reflectors are CSP-plants which use many thin mirror strips instead of parabolic mirrors to concentrate sunlight onto two tubes with working fluid. This has the advantage that flat mirrors can be used which are much cheaper than parabolic mirrors, and that more reflectors can be placed in the same amount of space, allowing more of the available sunlight to be used. Concentrating linear fresnel reflectors can be used in either large or more compact plants.