Solar Energy pays off! While the main driver of additional installations were feed-in-tariffs during the first 10 years, the technology is now one of the cheapest sources of electric energy in many regions of the world.
Electricity from solar panels can be as cheap as $0.078/kWh, as recently offered in a tender held in northern Inner Mongolia. The global capacity by now totals at approximately 230 GW and is growing every day.
Besides the consumers’ desire for independence, the current financial market environment with historically low interests rates is one of the key drivers to boost solar investments. Not only is it possible to generate energy from sunlight at attractive rates and outperform classical products like fonds or savings plans.
The self-owned power plant on the roof also helps to save the environment. And in case electric cars are the success story everbody expects them to be, the own filling station is already in place.
With a battery system installed, the user can continue to use his solar power and save money if the sun doesn’t shine. This works – a suitably configured system provided – even if in case of a mains power failure.
Even drinking water heating is now economical – and heat can be stored as well.