With all the talk recently about the cost of fuel breaking all record highs, it is no wonder that a growing number of investors are seeking to put their money on alternative sources of power. Although our homes are not powered by petrol or diesel fuel, the cost of crude does affect the price consumers pay for electricity. Even as one of the frontrunners in global production of sustainable energy, fossil fuels are still being used in the production of a great percentage of the electricity used in the UK. Since 2050 is being targeted as the date the nation seeks to achieve Net Zero in carbon emissions, it should be understood that there is still a long way to go. Having said that, you would think that investing in solar farms is a good investment. But is it? Let’s look at that for just a minute!
How PID Affects the ROI
PID is the acronym referring to Potential Induced Degradation of the crystalline photovoltaic modules in a solar system. This was something that was not previously understood as having a significant impact on the lifespan of solar panels. However, it is very real. But there is a product that can halt the degradation so that the lifespan isn’t affected and neither is the ability of those solar panels to absorb the sun’s rays which will be converted into electricity sent through the grid. If left unchecked, this degradation can cause a huge loss in ROI. The good news is that there are PID killer solutions produced by PADCON that will improve the efficiency of solar panels, maximising their production as well as maximising their lifespan. Higher output and longer lifespans lead to greater profitability.
The Good News Gets Better!
While that was just a brief synopsis of PID, PID killers and the effect of PID on ROI, the good news is that there is even better news once you look at the current ROI expected from solar panel investments. At the moment, even with degradation, the ROI of solar farm investments falls between twenty to thirty percent. This is something which needs to be repeated in order to take it all in. The current average ROI on solar farms is between 20% to 30%. If that doesn’t seem high enough to you as an investor, consider what Forbes says that the average ROI in the stock market is. They state that it runs right at 7% as an average. Now with the ROI of solar farms coming in at twenty to thirty percent even with PID to contend with, imagine how high it will be with PID killers! Wouldn’t you say that the good news really did just get better?
Here’s the Truth Revealed
In reality, investments in solar farms are already among the highest even before dealing with the longevity and efficiency of solar panels. Once that is no longer an issue, the truth is that you should see your ROI increase significantly. Again, the truth of investing in solar farms is that it is a good investment on several levels. From great returns on your investments to providing for a greener future, it’s an investment you can’t afford not to make.