The demand for electricity grows as well as the pressure to keep electricity prices competitive. However, the energy infrastructure is tapped out in several parts of the United States, namely California. Additionally, recent regulations fro the EPA regarding allowable emission by fossil fuel power stations are prohibitive of investment in more power plants as well as zoning for new projects. Additionally, power losses are substantial for as distances increase from the source. Our contention is local sources of energy are the most efficient means of addressing future energy requirements, particularly for commercial and residential applications.
The proposed innovation is an evolutionary step that addresses the main problem conventional photovoltaic technology; heat. A problem inhibiting the efficiency of solar panel sun-energy conversion rate is overheating. Systems have been introduced to the industry which attempt to lower the surface temperature of panels by spraying water on their surfaces, which cools the panels by convection heat transfer with turbulent air flow. We will market a Photovoltaic panel the has an integrated heat exchanger whereby the waste heat from the panel is used to supplement the home heating applications while keeping the panel cool for more efficient operation. Similar systems being used today saw efficiency increases from 17%-22% to as much as 30%.
The average residential monthly use is approximately 920 KWh in the United States, though it varies by state and month. By assuming a modest average of 3.0 of solar energy production for each collector, and an approximate solar collector surface area of 2.5 mit can be figured that two solar thermal collectors would be enough to provide approximately half of the average United States family’s energy needs per month. This corresponds to an approximate monthly savings of $65.80 (a U.S. average of 10.4 cents per kWh), but since most energy providers enforce a price per KWh increase for any usage over 1,000 kWh, these savings can be even more prominent. If, for example, a family paid $4,000 ‘out of pocket’ for installation of this particular solar thermal system, it would pay for itself after five years. In most cases, these Solar Thermal Energy systems have life spans of around 20-25 years, making the investment worthwhile.
I am very interested in learning more about the thermal utilization. Heat is a major source of loss in systems and being able to convert the heat to something usable would not only dramatically improve the efficiency of your device, but could be marketable on its own. I understand you may want to play it close to the chest since this is an entrepreneurial endeavor but as a former Physics major I would find more detail on this fascinating.
ReplyDeleteSorry for the delay, this technology is nothing earth shattering. We use solar cells to capture light and produce electricity. When the cell heat up because of incidet radiation their electrical efficincy decreases because of the internal resistance across the cell increases (-0.44%/C) We use liguid cooled channels imbedded within the photo cell back panels to remove the heat and dump it into your hot water heater or what ever. This keeps the cells operating more efficintly and captures the waste heat for more useful applications.
DeleteWorking in commercial property insurance, I can tell you a thing or two about these things. There is some associated costs that you guys may not be considering that would end up being quite the surprise. For example, PV panels are quite the fire hazard and must be tested for fire spread by a recognized listing agency (UL for example). In addition, they are very susceptible to hail and must also undergo various hail resistance tests before being manufactured. Just wanted to share this information that you can pass on to your group members. Good presentation in class!
ReplyDeleteI was about to point out that you spend a lot of time focusing on efficiency when the customer is going to care more about the financial impact. Good turn at the end relating it to the customers' bottom line.
ReplyDeleteInteresting insurance info from Jonathan. Are these costs included in your system's pricing? Will you initially buy the panel from a manufacturer that has covered this and then add your heat exchanger? Look at the annual reports or 10K's or 10Q's from companies in the business to see if you can get a good feel for COGS.