Do solar photovoltaic energy benefits outweigh the costs?

This article appears in the Spring 2020 issue of Energy Futures, the magazine of the MIT Energy Initiative. Benefits of solar photovoltaic energy generation outweigh the costs, according to new research from the MIT Energy Initiative.

Why should you invest in solar energy?

Millions of Americans are deciding to power their homes with solar energy—especially as costs have decreased—but an investment in solar generates more than just clean energy. It can support household savings, energy independence, economic opportunities, grid resilience and security, and a safer planet.

What is solar PV & why is it important?

Solar PV is one of the fastest-growing, most mature and cost-competitive renewable energy technologies. The deployment of renewables has been growing at a rapid pace in recent years, reaching record levels and outpacing annual conventional power capacity additions in many regions.

Are solar PV installations eligible for government rebates?

Once accredited with the Clean Energy Council, solar PV installations are eligible for government rebates such as Small-scale Technology Certificates and feed-in tarifs.

Is the future of solar PV employment bright?

Despite setbacks, there is reason to believe that the future of solar PV employment is nonetheless bright, given the urgency for more ambitious climate and energy transition policies, as well as the expectation that countries are learning important lessons on the design and coherence of policies.

Why do we need a rooftop solar PV system?

Rooftop solar PV systems have spread rapidly thanks to supporting policies, such as net metering and fiscal incentives. Energy transformation brings socio-economic benefits. The global solar industry could employ over 18 million people by 2050.