How solar panels can save everyone money

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When talking about the benefits of solar energy, one challenge always makes its way into the conversation: cost. While many see solar as a costly alternative to conventional means of generating electricity, a study out of Boston University is showing how solar not only saves those who own panels money, but even those who generate electricity conventionally.

According to the study, the 40,000 solar panels deployed in Massachusetts have effectively cut electricity prices for the nearly three million power users in the state (even those households and businesses not utilizing the panels).

“Until now, people have focused on how much was being saved by those who owned PV,” says Robert Kaufmann, professor of Earth and environment at Boston University. “What this analysis quantified was that it actually generates savings for everybody.”

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Image: Stefan Thiesen

Rooftops can provide more than shelter from the elements; they may also provide a goldmine of untapped energy production.

The U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) recently issued a report stating that rooftop solar panels have the potential to power nearly 40 percent of the U.S.

“It is important to note that this report only estimates the potential from existing, suitable rooftops, and does not consider the immense potential of ground-mounted PV,” co-author of the report Robert Margolis said. “Actual generation from PV in urban areas could exceed these estimates by installing systems on less suitable roof space, by mounting PV on canopies over open spaces such as parking lots, or by integrating PV into building facades. Further, the results are sensitive to assumptions about module performance, which are expected to continue to improve over time.”

Essentially, solar panels could have limitless possibles. However, land is a precious commodity. Roofs, however, provide a space that typically goes unused to generate a huge amount of power for the U.S.