The cost effectiveness of solar energy has led to a growing preference for this renewable power source in the modern world, regardless of socioeconomic status (Lewis, 2007). This study aims to analyze the affordability and advantages of solar energy. It is worth mentioning that solar power is exceptionally affordable.
The abundance of solar energy in nature is boundless and unrestricted. Historically, there has never been a documented instance of the sun's power being constrained. Daily, solar energy remains readily available at no cost, eradicating the necessity to pay fees for its usage. When comparing it to alternative energy sources like hydroelectric power, which demands ongoing maintenance, access to water, and accompanying expenses.
In relation to solar energy, it is both cost-free and highly affordable, making it an inexpensive energy source (Lewis, 2007). Unlike other energy sources that can deplete over time, solar energy is abunda
...nt and everlasting. This makes it a convenient choice for many (Budischak et al, 2013).
Shortages lead to increased bills as available resources become more expensive. However, solar energy is not affected by shortages and thus provides a cheaper alternative. It is cost-effective for large-scale production in companies and factories, even with higher power requirements for heavy machinery. Many businesses using solar energy benefit from economies of scale, saving money and expanding production capabilities.
According to Krein ; Balog (2009), solar energy equipment maintenance costs less than other energy forms like nuclear power. This is because solar energy systems require fewer equipment pieces, making maintenance more affordable. In contrast, nuclear energy involves costly instruments and equipment that require periodic renewal and approval.
Although solar energy is more expensive initially, the need for frequent equipment and machiner
replacement is not significant. Therefore, the effects or implications of cost are minimized in the case of solar energy. In summary, it is evident that solar energy offers considerable cost benefits as its utilization leads to reduced expenses compared to other energy sources.
References
- Lewis, N. S. (2007). Toward cost-effective solar energy use. science, 315(5813), 798-801.
- Budischak, C., Sewell, D., Thomson, H., Mach, L., Veron, D. E., ; Kempton, W. (2013). Cost-minimized combinations of wind power, solar power and electrochemical storage, powering the grid up to 99.9% of the time. Journal of Power Sources, 225, 60-74.
- Krein, P. T., ; Balog, R. S.
< p >
(2009, February). A cost-effective hundred-year lifespan for single-phase inverters and rectifiers in solar and LED lighting applications is achieved by meeting minimum capacitance requirements and incorporating a ripple power port. This was presented at the Applied Power Electronics Conference and Exposition, 2009. APEC 2009. The Annual IEEE event. (pp.
< /p >
(620-625). IEEE.
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