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GIGA Solar is a Hi-Tech corporation with its core business in R&D, manufacturing and sales of high performance silicon solar cells and panels
Article | March 23, 2020
The impacts of the coronavirus COVID-19 are being increasingly felt throughout the country, but the usual bills – including electricity bills – keep rolling in. There’s a lot that really sucks financially-speaking at the moment, but there are some bright spots. Here’s why now is a particularly good time to be considering going solar. But there’s a sure-fire way to get a great return on your cash and that is acquiring a good quality, professionally installed solar power system. Try our new solar calculator – the estimated payback and returns might make your eyes pop. For example, the following are estimated simple payback periods and savings over ten years for a 6.6kW solar system costing $6,600 installed in the various capitals; using the calculator’s default settings:
The U.S. renewables industry was left out of the $2.2 trillion coronavirus stimulus bill passed last week, but the battle is far from over. Congress is already considering further legislation to rescue the economy from the ravages of the COVID-19 pandemic, and renewable energy groups are ready to bring their proposals back to the table. As with the last stimulus bill, the industry's plans center on securing changes to two federal policies: the Investment Tax Credit (ITC) for solar power and the Production Tax Credit (PTC) for wind power. Renewables groups have a powerful claim to make as they push for those changes: Unlike many of the industries seeking hundreds of billions of dollars in collective aid, the desired tweaks to the renewable tax credits would not add significantly to the federal government's costs.
Both renewable power projects and conventional energy operations have felt the constriction of global supply chains, which are currently being limited in a global effort to fight and contain the spread of the virus. Many manufacturers of wind turbines and their critical components are based in Asia, such as Goldwind in China, as well as producers of photovoltaic panels and batteries (particularly lithium). Market reticence about bringing in products from affected areas has seen significant constriction in the importation of these materials and parts - the price of batteries has dropped by 60%, owing to the industry’s concentration in Asia.
The effect that fossil fuels are having on the climate emergency is driving an international push to use low-carbon sources of energy. At the moment, the best options for producing low-carbon energy on a large scale are wind and solar power. But despite improvements over the last few years to both their performance and cost, a significant problem remains: the wind doesn't always blow, and the sun doesn't always shine. A power grid that relies on these fluctuating sources struggles to constantly match supply and demand, and so renewable energy sometimes goes to waste because it's not produced when needed.
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