Welcome to another installment on my blog where I demystify the world of solar energy for you. Today, I’m engaging a topic that would be beneficial to individuals looking to dive into the realm of solar power, and more specifically, those eyeing solar panels for their homes.
A new study has recently shown that amazing savings of up to $20 billion annually are possible for the Southeastern region of the United States by achieving 45% solar generation by 2035. The Lawrence Berkeley National Laboratory conducted this study which concludes that a considerable amount of this could be achieved by the installed capacity reaching 182 GW of solar and 71 GW of storage, in addition to significant wind generation.
As more solar companies and homeowners alike adopt solar arrays for their homes, the Southeast could even see a baseline scenario where 23% solar is reached by 2035, backed by 76 GW of solar and 19 GW of storage. This would be a massive leap from the current amounts of solar and storage installed in the region.
According to this exciting research, utility operating costs could be reduced by a whopping 70% in the high photovoltaic, high storage scenario, as opposed to the baseline scenario. The drop largely results from the significantly lower fuel costs, setting us on course for an impressive $20 billion in annual savings.
Leading solar companies like Duke Energy Carolinas and Georgia Power are already contemplating resource planning scenarios that could see solar providing up to 40% of generation by the mid-2030s. The plan is for these advancements in solar generation to be complemented by gigawatts of energy storage, which is currently being considered by these energy moguls.
What we can glean from this is that adoption of solar panels for your home or as a solar company looking to expand, could drastically shift the energy landscape. Researchers have discovered that once emission reductions hit 75% to 80%, there seems to be an economic saturation point for solar generation. In other words, the return on solar panels begins to feel that extra push.
As the demand for solar for homes continues to grow, so too will the need for increased transmission, both within the Southeast region and between Southeast and neighboring regions. Fortunately, the study also found that for winter resources, the region has ample gas generation to provide both capacity and energy, demonstrating the versatility and adaptability of the renewable solar power plans.
Particularly if you are a solar company aiming to offer solar array for homes, the potential across the Southeast is heartening. The study, titled “Solar and storage integration in the Southeastern United States: Economics, reliability, and operations”, serves a testament to the promising future that lies in integrating solar and storage. And for anyone looking to embrace solar panels for your home, the potential savings and sustainability are compelling reasons to make that switch.
This is indeed an exciting leap toward a more sustainable future where solar power takes center stage. Stay tuned for more exciting solar developments in future blog posts.
Original Articlehttps://pv-magazine-usa.com/2024/09/23/reaching-45-solar-generation-would-save-southeast-utilities-20-billion-year/
