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.

What are the benefits of solar panels?

The benefits include reduced electricity bills, a lower carbon footprint, increased energy independence, potential income from excess energy generation, and added property value. Solar panels are a reliable and sustainable source of energy that can help combat climate change and contribute to a cleaner environment.

What are the benefits of switching to solar PV?

There are several benefits of switching to solar PV: Using solar energy means you will be reducing your electricity bills. The more solar energy you generate, the less you’ll be paying for electricity; Solar energy systems typically don’t require much maintenance, cleaning twice a year should suffice.

Why should you choose a solar panel system?

Sunlight is free, so once you’ve paid for the initial installation, your electricity costs will be reduced. Solar electricity is low carbon, renewable energy. A typical home solar panel system could save around one tonne of carbon per year, depending on where you live in the UK.

Why should you install a solar energy system?

Solar panels draw their energy from the renewable resource that is our sun. Not only does installing a solar energy system reduce your reliance on fossil fuels (which improves your air quality and protects the environment), but it can also save you $25,000 to over $110,000 over its lifetime.

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.