Solar panels can be installed on rooftops, which is where much of the growth in solar can be found. System prices have declined, equipment has improved and concerns about the environment have improved. However, although the cost of PV technology has dramatically decreased over the past 20 years, it is still relatively high, and prices have actually increased during the past few years because of an increase in demand.
Solar water heating systems have recently become popular. Typically, up to 30 percent of a home's energy consumption is used solely to heat water. By installing a solar water heater, consumers can reduce their energy demand and save on their electricity bill. Solar water heating is cost effective over the life of the system. Solar water heaters may be one way consumers can invest in solar energy.
Smart Energy Source solar case studies seek to determine the economic feasibility of a PV residential system. Throughout the case studies, SES will determine a payback period for the system, amount of carbon dioxide saved, kW generated, voltage produced and kWh used by the utility. It is important to determine what impact a PV system will have on the grid and how it will impact other consumers served by the utility. SES seeks to determine what new technologies need to be inplace for solar energy to become a viable source of power.