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Saturday, October 1, 2022

Conventional power companies waiting in frustration! Experts: The age of solar power is not far away

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In a rural village in Virginia, local resident Kenneth Viar Motor Indonesia fills his home and workshop with wind turbines, photovoltaic panels and spare batteries. Even so, Viar buys about a few dollars a month from the local power company, saying with a smile: “Nothing beats the grid”.

According to MarketWatch, the concept of ‘grid defection’, or the use of solar cell technology to cause people to cancel their electricity service, is now a growing concern for utilities. But these companies can take solace in the fact that even people with as many generating devices in their homes as Viar still see a use for the traditional grid, not only to provide backup power for their homes, but also to sell back to companies the excess electricity they produce.

Tesla (TSLA-US) has just announced that it will launch a $3,000 solar home battery that can be installed on the wall or inside the house and use solar panels or wind power to store electricity for nighttime use. The launch of this product is set to make a huge difference to the global energy industry.

According to experts at RIM in the Rocky Mountains, green energy will lead to more people saying goodbye to the traditional grid in the future, and the lower the price of green energy products, the faster and more people will wave goodbye to the traditional grid.

Wall Street analysts have pointed out that solar cells will revolutionise the traditional electricity business. Electric utility executives are concerned that once more people leave the grid for green energy, it will have a direct impact on their revenues and, by extension, on the quality of service for continuing customers.

Customers will drive the market, and if the current market doesn’t provide the choices customers want or need, these people will eventually find alternatives,” said the New York Public Service Commission, stressing the need for change to adapt to the latest technology.

In this regard, Mark Cerasuolo, director of marketing at OutBack Power Technologies, a manufacturer of electronic equipment for the sale of electrical power generation systems, said that even though solar cell technology is on the rise, the traditional grid still has its place. He believes there will be a workaround for people to use it, as they can normally use their own electricity but switch back to the traditional grid when they need it.

RIM’s research shows that solar cells will reduce the cost of electricity for homeowners in every state in the US over the next ten to fifteen years, especially in Hawaii where electricity is very expensive. By 2030, it is expected that 75% of homes and businesses in Westchester County, New York, which also has high electricity prices, will be powered by solar cells. As for the conventional grid, it can be used not only as a backup power source, but also to buy surplus electricity from private solar power, making solar cells more reliable and economically viable.

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