If you are thinking about investing in solar energy, there are a few challenges and obstacles you need to consider. These include tax incentives, the location of the installation, and the efficiency of the photovoltaic system.
There’s a lot of buzz around the solar power industry, especially in the northeastern US. In terms of economic output, it’s a close race with coal. The sun is a relative slacker these days, but a few lucky few wags in the industry have a knack for the sunshine. As such, the aforementioned gents have a fair amount of leverage, particularly when it comes to contracting for the goods.
Despite these quirks and quirks, the sector is a veritable goldmine for innovative new products and services. With such a competitive environment in mind, the best way to go about is to identify and nurture promising players in the space. If the requisites are met, such an enterprise could become a powerhouse in the years to come. Of course, no such feat is easy, but with some luck and a hefty dose of civic mindedness, such a venture can succeed. To the tune of hundreds, if not thousands of employees.
The cost of PV systems and the difficulty of integrating them into the power grid is among the biggest challenges facing the adoption of this renewable energy technology. Research and development has helped to reduce the cost of PV modules and improve the efficiency of solar cells. Nevertheless, PV has an optimistic future. A new generation of thin-wafer PV cell technology has the potential to achieve conversion efficiencies of over 20%.
As PV generation becomes more widespread, it poses a challenge to the balance between the supply and demand of electricity on the grid. This can result in curtailment of the system. When the demand for electricity increases, the supply is not enough to meet it. In addition, the risk of blackouts is high.
The availability of land for installation is another obstacle. Rural and low-income communities cannot afford the installation of PV systems. Moreover, the unique mounting of the panels imposes a larger area for installation than conventional PV systems.