Taking the full value of solar energy into account, policies that support solar development such as net metering prove well worth the investment. And the answer will impact energy rates and the compensation rooftop solar owners receive for excess energy they feed to the grid, for better or for worse. Whether the full universe of benefits to solar energy are included and quantified in an analysis of its value can determine whether policymakers ultimately view solar energy as bringing a net benefit to society or not. Solar energy also reduces emissions of dangerous air pollutants such as nitrogen oxides, mercury and particulate matter that harm public health, reducing related illness and mortality down the line.įinally, solar energy reduces the need for fracking, coal extraction and other parts of the fossil-fuel life cycle that have adverse consequences and costs borne by everyone. billions of dollars in economic and social damages each year, so emission-free solar energy presents a huge savings opportunity. The carbon emissions of our current energy system cost the U.S.
When our neighbors add more clean renewable energy to the grid, we all benefit from decreased global warming emissions. To capture the full value of solar, we also need to consider the impact rooftop solar installations have on society as a whole. Regardless of where you live, the benefits that solar installations deliver to the grid are valuable for every ratepayer, reducing costs and improving service across the board. That’s one value that Puerto Rico regulators recognized more fully after Hurricane Maria, and a motivation behind the island’s ambitious plan to transition toward renewable energy resources. Since they generate electricity right where we need it, solar panels can improve grid efficiency by reducing the amount of energy lost during distribution and transmission.įor that same reason, rooftop solar can also improve grid reliability and resilience, which is especially important in the face of natural disasters such as floods and hurricanes. In addition to savings from avoided costs, solar power can also reduce price volatility by diversifying our energy supply. For example, a Carnegie Mellon and National Renewable Energy Laboratory study found that distributed solar resources saved California utilities over $650 million from 2013 to 2015 by reducing demand on the grid at peak times, consequently driving down prices throughout the day. Those avoided costs are especially valuable during hot summer months when electricity demand spikes along with air conditioning use - and when solar panels are most productive.Ĭommunities with lots of rooftop solar installations feeding into the grid can avoid turning to costly, inefficient peaker plants to meet demand during those months, resulting in significant savings. In addition, solar installations reduce the need for costly investments in power distribution and transmission throughout the year. First and foremost, solar installations help limit the need to generate power at centralized fossil fuel plants. Solar adds value to the grid in several ways. These benefits fall into two main categories: benefits to the grid and all of the energy customers who depend on it, and benefits to society as a whole.
A new study from Environment America Research and Policy Center and Frontier Group, The True Value of Solar: Measuring The Benefits of Rooftop Solar Power, lays out the many benefits that rooftop solar panels deliver beyond the household beneath them. How exactly to define the value of rooftop solar energy is a question that policymakers, regulators and utilities have been grappling with since the dawn of distributed solar power generation. With solar panels churning out power from his roof, he could do his part to combat climate change and reduce harmful air pollution by generating clean renewable energy for his family and sharing any extra with the community. Glowing with pride, he told me how the those new panels would pay for themselves in no time at all, given the smaller electricity bills he anticipated.īut it was clear that he was most excited about becoming a solar power producer for a whole set of other reasons. My own first encounter with solar energy came when my neighbor installed a set of panels on his rooftop. That’s especially true when it comes to solar energy, since the benefits extend far beyond our own homes. We often define the value of something, including our clean energy investments, through a very limited cost-benefit analysis: What are my expenses related to this new thing, and how much money does it save me directly? But such a narrow analysis doesn’t capture the holistic value of much of anything.
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