Energy demand in Latin America is growing by giant leaps. According to the International Energy Agency (IEA), by 2030 the region will increase its consumption by 70%; in that sense, how can energy expenditure be controlled in the face of an inevitable increase in consumption? The answer has to do with efficiency. Today we present five reasons to use solar energy, a cost-effective and environmentally friendly option.
What are the main reasons for using solar energy?
Cost efficiency. According to the World Bank, the cost of electricity from solar PV dropped by 75% between 2009 and 2017 and will drop another 66% by 2040.
High commercial energy rates. Mexico has the fifth highest commercial electricity rates in Latin America, averaging 17.99 USD/kWh.
Productivity. The average duration of failures in the CFE’s electric service takes between 30 and 60 minutes per user. These types of anomalies generate associated costs in terms of productivity that, according to Information Technology Intelligence Consulting (ITIC), “98% of organizations say that one hour of downtime costs more than 100,000 dollars”. In this sense, the stability of the solar electric service is a relevant aspect to consider.
Environmental care. The use of solar panels definitely reduces CO2 emissions. Knowing this, the state of California (USA) approved measures that make it mandatory to install solar panels in all homes of less than three stories that have obtained their building permit as of January 1, 2020, calculating a savings in emissions equivalent to 700,000 tons in three years.
Country potential. According to National Geographic, Mexico has all the conditions to become a world player in solar energy given its climatic conditions and the high growth of the industry, which today has 44 solar parks in commercial operation.
In summary, solar energy systems offer considerable cost-benefit advantages to companies that decide to implement them. Furthermore, the development and improvement of solar technology presents an encouraging outlook for the economy and the care of the earth in the coming decades. Undoubtedly, an option that should not be overlooked.