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Go Green - Conserve energy in residential homes through solar energy

Go Green - Conserve energy in residential homes through solar energy. Sonia Batra Ph. D Student, Walden University PUBH - 8165 – 1 Instructor: Howard E. Rubin, Ph.D. Fall 2010. Agenda. Solar Power Environmental Impact of Conventional energy use in residential homes Financing

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Go Green - Conserve energy in residential homes through solar energy

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  1. Go Green - Conserve energy in residential homes through solar energy Sonia Batra Ph. D Student, Walden University PUBH - 8165 – 1 Instructor: Howard E. Rubin, Ph.D. Fall 2010

  2. Agenda Solar Power Environmental Impact of Conventional energy use in residential homes Financing Solar Electric System (aka photovoltaic or PV system) Example of PV System Cost Savings Conclusion

  3. Solar Power Chen, H. H. & Pang, C. (2010). Organizational forms for knowledge management in photovoltaic solar energy industry. Knowledge-Based systems, 23, 924-933 New Jersey Clean Energy Program. Technologies. Renewable Energy Technologies. Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/technologies New Jersey Solar FAQ's. Retrieved on October 10, 2010 from http://www.renewablepowerinc.com/id63.html Siemens. Solar Power. Retrieved on October 09, 2010 from http://www.energy.siemens.com/us/en/power-generation/renewables/solar-power/ • Two forms of solar power • Photovoltaic Panels & Solar thermal plants (New Jersey Clean Energy Program. Technologies. Renewable Energy Technologies) • A key driver in renewable energy market (Siemens, Solar Power) • US Trends – Solar power industry (Chen & Pang) • A remarkably great investment • Incentives and rebates provided by the State and Federal (New Jersey Solar FAQ's)

  4. Environmental Impact HEV. FAQ. What environmental impact does photovoltaic solar energy have? Retrieved on October 09, 2010 from http://english.energiasverdes.com/preguntas- frecuentes/que-impacto-ambiental-tiene-la-energia-solar-fotovoltaica.html • Climate • Geology • Ground • Subterranean Surface Water • Flora and Fauna • Landscape • Noises • Social Environment

  5. Financing • New Jersey Solar FAQ's. Retrieved on October 10, 2010 from • http://www.renewablepowerinc.com/id63.html Many options for financing are available through various types of rebate and incentives • Federal rebate • State Rebate • Local Government rebate/incentive • Out of pocket and private capital

  6. New Jersey’s Solar Financing Model New Jersey Clean Energy Program. FAQs. New Jersey's Solar Renewable Energy Certificates (SREC) Program and New Jersey's Solar Market: Transition to Market-Based REC Financing System. How does New Jersey’s Solar financing Model work? Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/tools-and-resources/faqs/srec#Anchor-Tax-9999 • Relies on Five Sources of revenue: • Societal Benefits Charge • Fed Tax Credits • Electric Cost Savings through Net Metering • Renewable Energy Certificates sold to Renewable Portfolio Standards (RPS) & Voluntary Markets • Out of Pocket Equity

  7. Solar Renewable Energy Certificates – SRECs How they are generated at NJ Clean Energy? Provides anticipated new solar capacity & insight into future SREC Pricing Register in SRP Program Registration Accepted Project complete & issued a NJ Certification # which enables to generate NJ SRECs Construction Accepted Final Paper Work Completed New Jersey CleanNew Jersey Clean Energy Program. SREC Registration Program.Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/programs/solar-renewable-energy- certificates-srec/new-jersey-solar-renewable-energy

  8. Figure 1

  9. Figure 2

  10. Figure 3

  11. The workings of Photovoltaic (PV) System Solar Electric System Cell Solar Electric Modules Batteries (optional) Batteries (optional) Customer Loads/Utility Grid New Jersey Clean Energy Program. How Solar Works. Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/solar/how-solar-works/how-solar-works

  12. Work Process – PV Systems New Jersey Clean Energy Program.How Solar Works.Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/solar/how-solar-works/how-solar-works • Converts sunlight directly into electricity • Produces electricity directly from electrons that are freed when sunlight interacts with the semiconductor material in the solar electric cells • Cells are the basic building blocks of the system and are wired together to form modules • The modules are connected to an electricity utility through an inverter that changes the DC produced by the cells into AC

  13. Benefits – PV System Alsema, E. A., Wild-Scholten, M. J. de, & Fthenakis, V. M. (2006). Environmental impacts of PV electricity generation- a critical comparison of energy supply options. Retrieved on October 22, 2010 from http://www.clca.columbia.edu/papers/ 21-EUPVSC-Alsema-DeWild-Fthenakis.pdf New Jersey Clean Energy Program. Solar.Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/solar/benefits/benefits Sharp. Why go solar? The answer is up to you. Retrieved on October 09, 2010 from http://www.sharpusa.com/SolarElectricity/WhyGoSolar.aspx • Helps the environment due to low carbon energy technology (Alsema, Wild-Scholten, & Fthenakis, 2006) • Stabilize electric costs • Smaller electric bills • Uninterrupted electricity supply • Income (net metering) (New Jersey Clean Energy Program, Solar) • Increased property value • Reliable power (Sharp, Why go solar? the answer is up to you)

  14. Monthly consumption cost with conventional energy New Jersey Clean Energy Program. Size and Features.Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/solar/size-and-features/size-and-features

  15. Costs ComparisonConventional Energy vs. Solar Energy Conventional Energy Solar Energy New Jersey Clean Energy Program. Cost, Incentives, and Savings.Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/solar/size-and-features/size-and-features Average house hold cost in the range of $8 - $10 per watt • Depends on many factors • Home under construction • Modules are integrated into the roof OR • Mounted on an existing roof • Selection of equipments • System component manufacturer • Contractor’s installation cost • 2KW installed system cost approx. $20K or $10/watt • 5KW installed system cost approx. $40K or $8/watt

  16. ROI - Summary • Per NJ’s Finance model explained on slide #4, the ROI is as follows: • Using rebate, tax credits, electric cost savings; the ROI is about 25 years for an average of 10kW system • Adding SRECs which are paid out over the life of the system & provide about $2,400 per year for a 10kw system, the ROI is reduced to 10 years from 25 years

  17. Important facts to consider • Initial high capital cost • Long term ROI • Energy depend upon the direction of Sun

  18. Conclusion • Best alternate to conserve energy • Environmentally viable option • Initial high cost investment with a long term ROI • Ample support from the local/state/federal in terms of tax rebates, incentives, and other financial resources

  19. Glossary New Jersey Clean Energy Program. Glossary.Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/solar/glossary/glossary Net Metering – A service option available from your electric utility that allows your electric meter to spin backwards when excess energy is generated by your solar electric system. The excess energy is effectively stored by the utility until it is required for future use by the customer Solar Cell – The basic building block of a solar electric system. Solar cells are made of a semiconductor material and convert sunlight directly into electricity Solar Module – A group of solar cells, modules are the smallest solar electric components sold commercially, ranging in power output from 10 watts to 300 watts Inverter – A device that converts Direct Current (DC) into Alternating Current (AC) Kilowatt (kW) –1,000 watts of electric power Kilowatt-hour (kWh) – A unit of electric power consumption indicating the total energy developed by the power of one kilowatt acting for one hour

  20. References Alsema, E. A., Wild-Scholten, M. J. de, & Fthenakis, V. M. (2006). Environmental impacts of PV electricity generation- a critical comparison of energy supply options. Retrieved on October 22, 2010 from http://www.clca.columbia.edu/papers/21-EUPVSC-Alsema-DeWild-Fthenakis.pdf Chen, H. H. & Pang, C. (2010). Organizational forms for knowledge management in photovoltaic solar energy industry. Knowledge-Based systems, 23, 924-933 HEV. FAQ. What environmental impact does photovoltaic solar energy have? Retrieved on October 09, 2010 from http://english.energiasverdes.com/preguntas-frecuentes/que-impacto-ambiental-tiene-la-energia-solar-fotovoltaica.html New Jersey Clean Energy Program. Technologies. Renewable Energy Technologies. Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/technologies New Jersey Clean Energy Program. FAQs. New Jersey's Solar Renewable Energy Certificates (SREC) Program and New Jersey's Solar Market: Transition to Market-Based REC Financing System. How does New Jersey’s Solar Financing Model Work? Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/tools-and-resources/faqs/srec#Anchor-Tax-9999 New Jersey Clean Energy Program. SREC Registration Program. Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/programs/solar-renewable-energy-certificates-srec/new-jersey-solar-renewable-energy

  21. References - Contd. New Jersey Clean Energy Program. How Solar Works. Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/solar/how-solar-works/how-solar-works New Jersey Clean Energy Program. Solar. Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/solar/benefits/benefits New Jersey Clean Energy Program. Size and Features. Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/solar/size-and-features/size-and-features New Jersey Clean Energy Program. Cost, Incentives, and Savings. Retrieved on October 09, 2010 from http://www.njcleanenergy.com/renewable-energy/technologies/solar/size-and-features/size-and-features New Jersey Solar FAQ's. Retrieved on October 10, 2010 from http://www.renewablepowerinc.com/id63.html Sharp. Why go solar? The answer is up to you. Retrieved on October 09, 2010 from http://www.sharpusa.com/SolarElectricity/WhyGoSolar.aspx Siemens. Solar Power. Retrieved on October 09, 2010 from http://www.energy.siemens.com/us/en/power-generation/renewables/solar-power/

  22. Additional Resources • Sharp website http://www.sharpusa.com/ http://www.sharpusa.com/SolarElectricity/HowSolarWorks/ResidentialFAQ.aspx • New Jersey Board of Public Utilitieswww.nj.gov/bpu • Mid-Atlantic Solar Energy Industries Associationseia.org • Northeast Sustainable Energy Associationnesea.org • New York Solar Energy Industries Association (NYSEIA)nyseia.org • U.S. Department of Energyenergy.gov • National Center for Photovoltaicsnrel.gov/ncpv • National Renewable Energy Laboratory (NREL)nrel.gov • Office of Energy Efficiency & Renewable Energyeren.doe.gov

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