Do solar photovoltaic energy benefits outweigh the costs?

This article appears in the Spring 2020 issue of Energy Futures, the magazine of the MIT Energy Initiative. Benefits of solar photovoltaic energy generation outweigh the costs, according to new research from the MIT Energy Initiative.

Why is solar energy a good option?

Solar plants produce so much clean energy that they even supply excess power to the grid during peak production hours! Due to its low carbon footprint (less than 0.05 pounds per kilowatt hour), solar energy is considered one of the cleanest and green forms available today. 2. Solar Energy Cuts Down On Expensive Utility Bills

Why should you install solar power at home?

Lower carbon footprint. Solar power is a clean, renewable energy source. By avoiding fossil fuels, you’re helping to decarbonise energy and reach the UK's net zero goals. Energy security. Installing solar power at home helps improve UK energy security by reducing your reliance on the grid. Increased home value.

Why do we need photovoltaic power generation?

Photovoltaic power generation has been most useful in remote applications with small power requirements where the cost of running distribution lines was not feasible. As PV power becomes more affordable, the use of photovoltaics for grid-connected applications is increasing.

Why should you choose a solar system?

The main attraction of the PV systems is that they produce electric power without harming the environment, by directly transforming a free inexhaustive source of energy, the solar energy into electricity.

Do high energy prices affect solar PV adoption?

However, the net value or overall economic benefit potentially brought by solar energy is closely linked to prevailing energy prices, with evidence suggesting that high energy prices positively affect the adoption of solar PV.