Photovoltaic prices are important if you’re in the process of acquiring a PV system due to comparing prices and photovoltaic cell specifications is an important task that will impact on your rate of return.
1. Solar power and especially electricity produced by photovoltaic cells is an attractive investment. More than ever before, the costs of acquiring photovoltaic cells are proportionate to returns, not least because of governmental subsidies.
3. You can use the grid as your solar energy “battery”. If you generate more solar power than you use during a given period then you can save it on the grid and consume it when you need it.
5. It’s important to consider how much electricity your PV system is likely to produce. If it produces less electricity than expected its rate of return will fall proportionately. You should consider whether you’re better served by, for example, paying off your mortgage.
6. During the past 7 years photovoltaic cells have halved in price, and prices may well fall further as the technology develops. Even if prices should halve again over the next 7 years, investing in photovoltaic cells can still be a good idea if the right subsidies are in place.
7. Since 2005 electricity prices have risen by about 25%. Whether prices will continue to increase at this rate is difficult to say, what is certain, however, is that energy production will continue to be a hot topic for politicians and that electricity prices are likely to increase.
8. Photovoltaic cell technology has undergone a revolution in recent years and developments continue apace. Additionally, governmental subsidies make acquiring PV systems attractive.
9. If you generate more electricity that you use over the course of the year then the excess solar power you generate can be sold to the grid but to a very low price. You are thus best served by designing your PV system to have a capacity that’s slightly lower than your power needs and purchasing any additional electricity you require from your utility company.