Solar- The Hottest Trend This (and next) Summer
In honor of the summer solstice, we’re looking at a few reasons why solar has become a strong option, whether it’s the shortest day of the year or the longest.
We don’t need a bridge to get to the other side.
Renewable energy is a technology, not a fuel. As a technology improves, prices fall. Every time the world doubles its installedcapacity for solar panels, costs decrease by 26%. According to a report by Bloomberg Renewable Energy Finance, prices forsolar and windpower are now falling too quickly for natural gas to ever dominate as a “bridge fuel” between coal and renewables.
Instead, $7.8 trillion will be invested in renewables by 2040, $3.4 trillion of which will goto solar. Considering the lifetime costof installing wind and solar is less than the cost of building a new fossil fuel plant, we’d say that’s a pretty smart investment. Infact, building new wind and solar plants will be cheaper than running existing coal and gas generators by 2027.
Solar + Storage = a virtuous cycle of renewables.
Energy storage addresses problems inherent in renewable energy, such as intermittency. It also avoids the need forcostlyupgrades to transmission and distributioninfrastructure capacity as energy demand increases.
At UGE, we offer onDEMAND, an energy storage solution that allows customers toimprove the cost efficiency and reliability oftheir electricity. The battery dischargesenergy when solar is unavailable, or during peak times to reduce costly effective loads.
As the price of solar has decreased, the cost of energy storage has also come down significantly. The two industries willcontinue to fuel each other’s growth as they becomeincreasingly interdependent in the coming years.
Summer means Solar
Summer means longer days with more sun. On the day of the summer solstice, much ofthe continental U.S. experiences 14-16hours of daylight, with up to 23 hours in Alaska. More sun means more solar--enough to power your building and feed energyback intothe grid.
Monitoring systems like ViewUGE+ can help you calculate exactly how much more energy your system will produce today!
At UGE, we’re happy to say the future of renewables is bright, and while solar is definitely trending now, it’s for more than just this season.
Enjoy the summer solstice!