Contact Us Importance of solar energy Solar energy is considered to be the best option for the people and modern industries as it belongs to the renewable category. With the disappearance of the fossil fuels from the planet and their rising costs has forced countries to switch over to a sustainable energy source.
Get Full Essay Get access to this section to get all help you need with your essay and educational issues. Solar Panel Services Essay Sample Introduction My neighbor Cindy is asking my advice about her new idea of running a contracting business for the installation of solar panels.
She is interested about the cost savings that households and business can take advantage of as a competitive advantage to promote the investment. In addition, she thinks that consumers will be willing to invest in solar panel services due to the reality that these days individuals are concerned about the environment and also they wish to reduce pollution somehow.
However, Cindy is concerned about risking her life savings on a venture that might not succeed or become profitable enough. At the same time, I will make the same analysis with the supply determinants, such as prices of inputs, technological change, prices of substitutes in production, number of firms in the market, and expected future prices, in order to give Cindy a better understanding about the importance of the supply and demand determinants in the process of broadcasting a future behavior of her business idea.
Finally, I will give her some recommendations to take into consideration at the moment she start running her interesting idea. Individual demand determinant analysis Income Individuals are going to demand more solar panel services if income increases because they would have more power consumption.
I understand that Cindy may ask why customers will choose to buy solar panel systems if they have more income. The only purpose of this part of the analysis is to understand why determinants of demand are so important to analyze the shifts on de demand curve of solar panels systems.
I consider that solar panel services are normal goods that correspond to demand increases. It is important to understand that, a good is a normal good when demand increases following a rise in income and decreases following a fall in income. Prices of related goods Electricity powered by non-renewable sources are the traditional ways of electricity production.
In the last years the price of electricity from this sources have been increasing, primarily due to international oil prices.
Today, consumers are looking forward for cheaper solutions for their electricity needs. Lately, as a added value in the design of new home projects, developers are promoting homes with integral solar panel systems. This situation is also going to increase the solar panels demand. The economic analysis varies state to state due to solar power incentives, permitting requirements, federal tax deductions, and some other solar regulations.
Government incentives for installing solar panels are changing tastes and preferences of consumer.
As Energy Sage n. For example, my father went solar two year ago in my home country. He is happy about it, but his tastes has changed dramatically about renewable energy.
Now he is committed to reduce pollution as a good social purpose. Population and demographics It is obvious that the American population have been growing as any other nation.
For example, with more people, more consumer, hence with more consumers, more people willing to go solar. Expected future prices New technologies have been driven photovoltaic PV prices these years, in like manner solar panels prices. Brown, As the prices of PV panels are going down, consumers would prefer to wait until that moment to demand solar panels.
These tells us that prices have been decreasing at a rate around to eight percent per year. However, the greatest question now is in what proportion sales are increasing or decreasing due to lately decreasing princes in solar panel installation services all around the country.
In order to answer that question, first I need to make a price elasticity of demand analysis. For that, I will make up some numbers to make an illustration about it.
But as prices decrease intheir installations grew up to per month.
With that being said, is the price elasticity of demand elastic or inelastic? Using the midpoint formula, I have to calculate the average quantity and the average price, Avg. This tells us that as prices decreases more units were demanded because costumers try to take advantage of lower prices.
The rule of thumb for firms with selling products with elastic demands is to decrease their prices in order to increase revenue. In other words, make more money selling more units but at a cheaper price.
Individual supply determinant analysis Prices of inputs An input is anything used in the production of a good or service. For the last years, prices of solar cells have decrease tremendously making the acquisition of solar cells hence solar panels more affordable.
Technological change In the case of solar panels supply, the influence of technological change is very important because the market is changing every day due to technology. For many years the production cost has been decreasing, making possible for manufacturers to produce a cheaper product maintaining quality.
At this time, there is a revolutionary change in solar cells production process that is going to shift supply curve to the right. Prices of substitutes in production Firms often choose which good or service they will produce. Alternative products that a firm could produce are called substitutes in production.
In order to find substitutes we must talk about other sources of renewable energy, such as geothermal, biomass, wind and hydroelectric.SunPower Oasis is a custom, utility scale solar power plant platform built to work as a single product, with each component precision engineered to benefit the whole solution.
Published: Tue, 06 Jun Solar energy is the nature available source of energy; it is continuous providing by the Sun. It is the most important of non-conventional sources of energy therefore it is one of the non-polluting energy and helps in less the greenhouse effect.
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First Name Last Name E-Mail Address. Jun 22, · An inside look at the world's largest solar-powered boat Tûranor PlanetSolar, first boat to circle the globe with solar power, poses for photos in NYC.
Methodology for the dissertation Area: Birmingham city (united kingdom) Requirements: The Solar irradiance is in w/m^2 1-Design (where would be put the panels? the location) the design implication.