Solar energy, or “alternative energy” seems to be the latest buzzword. In an effort to curb pollution, and keep energy production at home, dreamers and investors and governments are all doing their best to find a solution for harvesting all of their energy needs from the sun.
Some of these initiatives show great promise. For example, in the Mojave Desert of California, a larger megawatt-level solar energy plant is being created to help supplement California’s growing energy needs.
Other initiatives, such as Spain’s offer to provide rebates of 40 cents per Kilowatt of solar electricity created, have been met with less success. Spain’s offer initially seemed like a great thing that started a boom in solar energy production and created nearly 5,000 jobs. After 5 years of this program and the country found it to be unsustainable and discontinued it, resulting in major layoffs for workers in the solar industry, and new solar panel owners with panels they will now have difficulty paying for.
As countries and individuals look to the sun to help them save on traditional energy usage, it is important for them to consider accurate solar energy facts before making any large decisions. The hard truth is that solar panels have a lifespan of about 20 years, and, depending on their initial installations costs, will only last about 15 to 20 years. At the best, a solar panel installation will break even. It is more than likely that it will actually cost the owner money in the long run.
However, even though solar panels are too pricey to replace home energy needs, it is still a great solution for other items such as powering remote sensors along stretches of highway. In cases where energy is scarce, a solar battery charger is the perfect solution.
So for the time being, solar panels are barely a viable financial option. Hopefully, as research continues to progress, we will see the day when solar energy reaches “grid parity” with other energy systems and we will be able to rely on the sun a major source of our energy.