Source A:
https:// maxx-solar-energy.co.za/6537/solar-power-in-capetown/
This article was taken from the Investopedia website. The author of this article is Trevir Nath, he is an experienced writer with a background in finance, investing, and economics. This source is however reliable as it’s a popular website around the business world and thus will provide legitimate information regarding the economics of Solar Power.
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Fossil fuels such as crude oil, coal, etc, are the world’s number one source of energy even though its non-renewable. There is a high demand for fossil fuels due to it being affordable and reliable. Even with the technology innovation renewable energy has failed to override fossil fuels.
Over time and due to increased production, government subsidies, and environmental concerns the cost of solar has indeed decreased. In particular markets, renewable energy is generated at a cheaper rate than fossil fuels. Solar energy is beneficial in both commercial and residential areas.
It has been estimated that fossil fuels will be depleted in about 100 years. There has been a 3% increase in fossil fuel consumption in two years in the U.S. which indicates that the consumption will continue to increase and lead to fossil fuels being depleted.
Fossil fuels cause various environmental effects such as the burning of fossil fuels causes air pollution and has also contributed greatly to climate change – such effects are melting ice in the Arctic, global warming, rising sea levels etc. Other effects cause health problems which leads to death. The estimated true cost of fossil fuels globally is $5,3 trillion a year.
Recently due to declining costs, universal access to solar paneling systems is becoming a reality. Solar energy has seen a global increase in consumption as more countries are seeing the true effects of fossil fuels and are trying to stop air pollution. Some of the largest economies have begun to implement solar energy but not only them also big businesses such as Apple are investing in reusable solar systems. Soon solar photovoltaics will be amongst the cheapest sources of energy. With the increase in the production of renewable energy, there is also an increase in commitment to declining greenhouse gas emissions from the burning of fossil fuels.
Source B:
https:// cleantechnica.com/2018/03/10/renewable-energy-economic-benefits-know/
This article was taken from the CleanTechnia website. The author is Jake Richardson – he is an experienced and knowledgeable writer who has written many articles that have economic benefits. This source is reliable as it's from a website that millions can access and yet it has not been reported as fake news.
Renewable energy is already cheaper than most energy options, but it comes with economic and social benefits. Renewable energy has already employed a huge number of people. There are almost 10 million in the whole world and over 3 million of them are employed in solar power. This indicates that solar power companies are creating more job opportunities for people. The renewable energy industry is more labor-intensive as solar panels require humans to install them. This results on average, more jobs are created for each unit of electricity generated from renewable resources than from fossil fuels. Solar power is indeed cheaper for the customer.
Another benefit of renewable energy is that it is scalable in areas where there is little to no electricity. Research has shown that as long as families are dependent on non-renewable energy they will not be able to uplift themselves out of poverty. The reduction usage of coal and eventually excluding it would save hundreds of billions of dollars a year in various societal costs.
Coal mining has caused premature deaths in people because of coal emissions.
Renewable energy does not only contribute to economic factors and pollution reduction – it could change lives for the better. IRENA shows how stimulating renewable investments can be. “Doubling the share of renewables in the global energy mix by 2030 would increase global GDP by up to 1.1%”
Renewable energy can have an impact on trade as reducing fuel imports can improve trade balance and thus improve the GDP. The Solar Foundation has shown a report of the US “The U.S solar industry added $154 billion in economic output in 2016.”
The replacement of fossil fuels with renewable energy causes the reducing emissions that cause climate change. Increasing renewable energy allows to decrease costs caused by climate change such as the spread of infectious diseases or even the Zika outbreak and thus makes it very economically beneficial. Therefore, renewable energy is a clear solution to many global problems.
Source C:
http://www.caperealty.co.za/news/16930/why-solar-power-is-an-investment-worth-making-in-cape-town/
This article was taken from the Property News website; however, it does not provide an author’s name. Property news is a reliable source as it is a recognised news publication which leads to the website providing legitimate information.
The cost of electricity keeps on rising – but solar energy will be a great alternative to save money, in the past 10 years the cost of electricity has risen. Eskom charges three times more than what it did a decade ago but yet this high amount is expected to double by 2021.
Solar energy provides a convenient way to reduce their reliance on Eskom. With the installation of energy-saving light bulbs and a solar geyser system, one can already start lowering their power bill. Just installing a basic solar system will decrease one’s Eskom bill by 30%. However, a complete solar solution is the most expensive route to take to get off the grid completely.
Solar energy has been known to pay itself over the years and adds value to one’s house. Spending over R100 000 just to power one’s house may seem expensive but so is the cost of electricity supplied to one by Eskom. A solar energy power system can pay itself off over three years or even less and once that is done one will be saving a significant amount every month. Adding solar system to any house is a great selling point especially in Cape Town as it adds serious value to the property.
Source D:
https://www.fin24.com/Money/are-solar-panels-worth-it-20180406
This article is taken from News24, City Press website. The author of this article is Duncan Alfreds who is a journalist for News24. This source is reliable as News24 is a recognized news publication and thus would not post fake or unreliable content where it could ruin the image of the company.
Eskom CEO Tshediso Matona has said, “Load shedding was here to stay”. Load shedding may not be affecting people as much now but the increase in tariffs threatens many households. Eskom is not sustainable which leads to an increase in the need for consumers to consider other options such as solar energy.
There has been a massive demand for photovoltaic systems for both residential and commercial. Consumers are increasingly becoming self-sufficient and the cost increases from Eskom is the sole reason for such a change.
Solar energy when compared to the electricity Eskom provides is a much more sustainable alternative. There is no reason specifically financial reason to continue paying for electricity that one can generate themselves with a system that adds value to the property and in return will save one a massive amount of money over the whole life span of the solar investment.
The cost of solar panels used to be very expensive but recently the cost has dropped sharply. The solar power is now at a price of R1 per kWh while Eskom’s is at R1.92 per kWh which has indeed increased from R0.50 per kWh. Adding a battery bank can reduce the cost to be reduced for solar power.
Being an ABSA customer has its benefits for a consumer who wants to implement a solar energy system, as one can receive a 10% discount on energy products purchased from Eco Navitas and a 5% discount on water storage and harvesting solutions. This encourages people people to invest in solar energy as it will not cost as much now as they are getting financial help from the back which at the same time they won't have to pay back.
The grid electricity is hastily becoming unfavorable to the people and the people are realising that it is now a matter of survival to embrace renewable solutions such as solar energy.
”People are starting to look for control over their expenses and what they spend on electricity and renewables are answering this need.” Says Teresa Kok who is the director of the One Energy Group.
Source E:
https:// maxx-solar-energy.co.za/6537/solar-power-in-capetown/
This article was taken from the Maxx Solar Energy website. The author of this website is unknown. This source is reliable as it contains recent information and one knows this by looking at the date it was published (01.11.2019)
Eskom does not allow solar systems to connect to their grid to export energy. Eskom does not have enough energy to supply to the whole of South Africa which is why they implemented load shedding during the day – whereas solar power could fulfill this large problem of South Africa’s energy issues.
The tariff one pays is important to consider when installing solar as the higher your tariff the shorter the payback which leads to a higher return on one’s investment.
Cape Town is known to have relatively high solar radiation when compared to other Europe countries. The statistics show that the average energy yield in Cape Town is approximately 1 600 kWh / kWp / y. This means that for every one kilowatt of solar panels installed, one can expect to produce 1 600 kWh of energy on average for a full year. When comparing Cape Town’s numbers to Munich Germany it shows that Cape Town gets 45% more energy production than Munich.
The solar panel orientation in Cape Town allows for the production to produce the absolute most energy.
The installment of solar panels in Cape Town makes economic and environmental sense due to the decreasing costs of solar power and increasing electricity tariffs, relatively high solar radiation.
Source F:
https://theconversation.com/explainer-south-africas-developing-solar-energy-landscape-50537
This article was taken from The Conversation website. The author of this source is Hartmut Winkler who is a Professor of Physics at the University of Johannesburg. This source is reliable as The Conversation is funded by the National Research Foundation including eight universities. No foundation will fund a website if it is spreading inaccurate information.
The usage of solar panels is changing rapidly due to three factors: worldwide drive towards renewable energy, the highly strained local electricity supply, and lastly a drop in solar panel prices.
Solar power is much easier and cheaper as in the last ten years the development of solar energy has seen a drop in the prices of photovoltaic panels. There have been technological advances in other solar techniques and power storage.
Solar panels are placed in such a way as to ensure that each panel does not shade the one behind it. A more sophisticated design is found in the Northern Cape which uses a single–axis–tracking technology to counteract efficiency losses. Each row of solar panels steadily rotates along the north-south axis with the sun until it reaches a shady spot.
Solar energy mostly avoids emissions, uses limitless energy resources, and lastly becomes affordable. Solar energy is promoted as a major clean contributor to solving the world’s energy crisis.
Solar energy deals with the sun which means it can only generate energy during the daytime and in reasonably cloud-free conditions. In South Africa, we can generate energy from the sun for an average of 8 hours per day.
The poorer the alignment of the panels the worse the efficiency. Dust build-up on the solar panels will further block sunlight – photovoltaic panels cannot function correctly if even a fraction of the panel is covered.
Source G:
https://www.greenmatch.co.uk/blog/2014/08/5-advantages-and-5-disadvantages-of-solar-energy
This article was taken from the GreenMatch website. The author of this article is unknown. This source is reliable as the information it contains correlates to other reliable sources and at the same time, makes all their information transparent allowing one to see if the content is false.
The energy the sun provides to the earth for one hour could meet the global energy needs for one year. The sun is a powerful source of energy and cannot run out and harnessing this power by the installation of power panels can make a big difference to the planet.
Due to increasingly competitive prices in the market has made it become the main source of energy. The technology has been improved greatly had thus has been complemented by the solar battery storage systems.
The advantages of Solar energy are as such; it is a renewable energy source as it can be harnessed all over the world every day without causing harm to the planet – environment. One cannot run out of solar energy unlike with fossil fuels.
Solar energy reduces electricity bills as you will be meeting most of your electricity needs will lead to one’s energy bill dropping. The amount you save on your bill will depend on the size of the solar system. One will not only be saving on one’s electricity bill but will also receive payments for the energy that one exports back to the grid.
Solar energy can be used in diverse applications as the energy one generates can be used to distill water in regions with limited water supplies and also power satellites. Solar energy can be integrated into materials used for buildings.
Solar energy has a low maintenance cost as the only thing one needs to do after installation is to keep the panel clean – cleaning it a couple of times a year will work perfectly. The most reliable solar company will offer a 20 – 25-year warranty, and there are no moving parts which leads to no wear and tear. After the initial cost, one can expect to spend very little on maintenance and repair work.
Technology development has allowed for improvements that will improve the future of solar energy. Innovations in nanotechnology can potentially increase the effectiveness of solar panels and also triple the electrical output.
Disadvantages of solar energy are as such; the initial cost of solar panels is relatively high, and this includes solar panels, inverters, batteries, etc.
Solar energy is dependent on weather as although solar energy can be collected during cloudy and rainy days, the efficiency levels will drop, and solar energy cannot be collected during the night.
Solar energy storage is expensive as using solar energy all day long is quite expensive. Solar energy has to be used right away or it can be stored in large batteries which are relatively expensive.
Solar panels take up a lot of space as the more electricity you want to produce the more solar panels you will need which require more space for them.
Solar energy can be associated with pollution but not in the same way as fossil fuels rather with the installations of them which have been associated with the emission of greenhouse gases. Some toxic materials are used during the manufacturing of solar panels.
Source H:
https:// smartsolartech.co.za/solar-power/
This article is taken from the Smart Solar Tech website; the author of this article is unknown. This article is reliable as the website specializes in solar energy and would have the best information regarding solar energy.
Solar energy is the appealing choice for homeowners as well as industrialists who take into consideration the increasing costs of electricity and rising ecological issues. Various other types of energy can be viewed to run out while solar energy won’t.
Solar energy is made by converting the sun’s rays directly into electricity. Any time the panels are in contact with the sun’s rays will lead to an energy current that begins to move from the solar panel.
When compared to non-renewable technology depending on fossil fuels, solar energy will not produce greenhouse toxic gases. There are no extra costs in creating actual electricity energy with solar power.
It has been stated that South Africa is the third-best location in the world for solar energy. Living off the grid and producing your electricity instead of relying on Eskom is a much more attractive option.
By putting a stop to fossil while putting a stop to Eskom’s load shedding. Solar energy is everywhere even during the winter season every part of the earth’s surface will receive a reasonable amount of solar emission. Renewable energy sources are free as with solar energy the sun is completely free. This helps one when making an investment decision when it comes to solar equipment and devices. With the first upfront cost, one will no longer receive monthly invoices for the remainder of one’s lifetime.
Investment recovery periods with solar equipment and devices are shorter period and the payback time frame is possible be as little as 5 years to have your solar power system paid off.
The generating of electricity by solar energy makes absolutely no noise which results in no environmental noise pollution. Solar energy reduces any harm to the environment.
Solar power will last up to many years and will start saving the investor money from the get-go. After the installation one will notice there won't be any more expenses from electrical companies.
However, the one main disadvantage of solar energy is that the sun is not available 24 hours a day. When we require energy for those times we will need to obtain it from another source – which results in us not all being one hundred present reliant on solar energy.
The positioning of solar panels is an important factor as it will need the best position to require the most amount of sunlight and having the required space for the panels is also important and can be a disadvantage as many people don’t have the required space for solar panels in their homes.
Only some of the energy coming from the sun’s heat is taken through residential panels. The majority of solar panels possess a 40% productivity level but it has changed due to technology advancements and become 80% of productivity.
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