Surrey scientists have found that over the past decade the cost and profitability of solar panel systems have steadily declined, regardless of the size of the system in which individual homeowners are involved. In 2021, large PV systems were cheaper than bulk electricity, costing £51/MWH compared to £149/MWH for smaller systems.
Professor Ravi Silva, Director of the University of Surrey's Institute of Advanced Technology, said:
“The results of this research will help the UK achieve its 2050 net zero targets for many parties, including homeowners, solar developers, the construction industry and government agencies. The promise that these investments will be broken by 2035 or that electricity will become 40-50% cheaper cannot be ignored. »
"With these findings, the study encourages government support for solar power producers with concessions, including concessional land loans or easier purchase of suitable land."
Despite the abundance of solar energy sources available, the 2019 figure shows that solar energy represents only 3% of the global market due to high installation costs.
Dr. Philip Mandis of the Research Institute of Labor and Social Affairs (RILSA) said:
"As the cost of living rises and global attention turns to climate change and decarbonization, it's good news for many to hear that a once expensive investment will not only help create green energy, but also to reduce costs."
"By offering more supporting initiatives, solar power can grow more competitively and meet the UK's energy needs, while offering a promising sustainable and affordable energy solution."
The University of Surrey is a global center of excellence in sustainability, where our multidisciplinary research connects society and technology to equip humanity with the tools to fight climate change, clean our air, reduce the effects of pollution on health and help us survive. . better and more durable. The University is committed to becoming an industry leader and increasing resource efficiency across its properties with the goal of becoming carbon neutral by 2030. The focus on research that makes a difference in the world has helped Surrey rank 55th globally in the Times Higher Education (THE) University Impact 2022, which measures the performance of over 1,400 universities on the United Nations Sustainable Development Goals . (SDG) United.
The research will be published in the journal Patterns.
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