Solar Energy Economics

Solar energy is based on economics and real environmental issues. While the price of renewable energy has dropped dramatically over the last decade, electricity prices have skyrocketed – and the price hikes will continue.

Renewable energy economics concerns the application of economic solutions and methods in regards to issues of engineering, geology, political, ecology, energy policies, as well as the interactions between energy and other issues, such as the environment and finance.

You will be able to generate electricity long-term at a lower cost than purchasing from a utility company – This is a major economic advantage with your own renewable energy generation. On-grid tariffs convert the generated electricity into revenue by selling the surplus power back to the building’s tenant, or to the electricity company (applicable for some countries only).