"One of the major misconceptions about solar and wind energy systems is that they are very costly and do not payback the investment but the reality is otherwise."
Venturing in an Energy Revolution
SOLAR AND WIND ENERGY REVOLUTION Muhammad Rehan Zafar Saturday, April 11, 2009
One of the major concerns for today’s manufacturing and service sector alike is the soaring energy costs and energy uncertainty. Energy sector usually relies on costly multi-billion projects like massive dams, nuclear reactors and fossil fuel generators which is considered the costliest way to produce electricity. Rising awareness about depleting oil reserves in the world is also pointing out that the world is heading towards a major energy crisis and only energy savvy, resourceful and open-minded people will be able to tackle through the treacherous future ahead.
Several alternatives for producing electricity are emerging in the market that are not only cost effective but are capable of producing electricity separate from the centralized energy grid hence being less susceptible to major energy breakdowns. Two of the most well known energy alternatives in use for generating electricity are solar panels and wind powered turbines.
Solar panels and wind turbines can be used separately or together in a hybrid system. They can also be used as an independent system or integrated with main power supply. In either case the energy costs will be cut down significantly. Solar thermal systems are also an effective means of cutting heating expenses.
Costs of Solar and Wind Energy:
One of the major misconceptions about solar and wind energy systems is that they are very costly and do not payback the investment but the reality is otherwise. According to a survey by World Business Council for Sustainable Development (WBCSD) green energy costs are usually overestimated by 300%. Although large wind turbines and solar panels do require a large initial investment but due to low maintenance expenses and free of cost energy production for almost fifteen to twenty years they are a far better and more economical option then conventional power sources. Large wind turbine and solar stations are capable of producing 20-50 kW of electricity at variable rate that is stored in batteries for later use. Investments on such systems are recovered mostly within two to five years time. A very successful example of independent wind powered system is the Bahrain World Trade Center that produces all of its required electricity form a set of three turbines and is expected to payback its investment within two to four years.
Still, large initial investment is a major deterrent in popularity of alternative energy sources. This problem can be solved by installing arrays of smaller solar-wind hybrid systems. A turbine with a rotor size between one to three meters can generate electricity between 1.6kW to 6.3kW per hour in a wind speed of about 10-20 km per hour. This strategy would be less costly as compared to large systems and would be easier to install as well. These arrays of small wind turbines working like a small wind farm can be integrated with the main grid and later on expanded to meet the capacity needed to establish an independent power generation system.
Benefits of Solar and Wind Energy:
Using green energy has far more benefits than enhanced productivity and cost savings. It is also a very effective tool for creating goodwill and green products are preferred in European markets and other developed economies. Many countries give tax breaks to companies that are using green technologies. Using green technologies for meeting energy needs requires managerial initiative and well researched informed decisions can solve many of the energy woes faced by managers across the globe and especially in the third world countries.
