The monetary value of solar power could be as much as 10-times the cost, according to a recent Grist article by energy researcher John Farrell.
Farrell, who works for the Institute for Local Self-Reliance, said solar power’s ability to reduce peak demand on the distribution system, hedge against fuel price increase and enhance environmental and grid security make it extremely valuable for what the stated value is.
A new report by the University of Albany, George Washington University and Clean Power Research, titled “Solar Power Generation in the US: Too Expensive, Or a Bargain?” said that results from the state of New York suggest that solar electric installations help save taxpayers between 15 and 40 cents per kilowatt hour.
Farrell said that while solar power is not the least expensive way of delivering clean electricity, its value is more than its power production cost. He said he believes federal and state policies should focus on rewarding that value and encouraging the spread of solar power.