In order to avoid energy crisis, countries throughout the world are trying their best to switch to renewable sources of energy. And amongst the few available renewable sources of energy, solar energy has proved to be the most accessible one. Unlike wind energy and tidal energy, solar energy has high availability.Most of the existing solar farms are owned by private companies. The involvement of private companies in solar farming indicates two things. First, it’s a profitable venture. Second, it’s feasible enough for individual companies to invest in it. You can make your own successful solar farm. But before deciding to go for it you should take a look at the advantages and disadvantages of establishing a solar farm.
Advantages of Establishing a Solar Farm
- Support of Government
As said earlier, countries throughout the world are trying their best to switch to renewable sources of energy. They welcome the efforts of any private firm that helps them in fulfilling their aim. So, you will receive huge support from the government when you are establishing a solar farm.
You will get a subsidy on all the products. The government will provide you with the information whether a solar farm is feasible in your region or not. Solar energy is tax free in many countries of the world and some countries even provide an incentive on green energy production.
- Good Return
Ideally a solar farm is supposed to give an annual return of 10-15%. But even in most ordinary cases it will give you a return of at least 6%. The return is assured as the energy that you are producing is directly sold to the consumer.
- Low Operational Cost
Solar farms require a minimal maintenance. So you won’t have to worry about high operational costs.
- Ease of Selling Electricity
Electricity is in demand everywhere. So, it is very easy to sell it. The output of your solar farm will be connected to the national grid and you’ll be paid for every single unit of electricity that you produce.
- Hybrid Solar Plants
A solar farm can also be established in collaboration with a wind farm. Both the sources will complement each other and you will get a more steady power supply.
- Eco Friendly
It goes without saying that solar energy is eco friendly. As a matter of fact, it’s the major sources of clean energy.
Disadvantages of establishing a Solar Farm
- High Initial Cost
Establishing a solar farm is a very expensive matter. Though government subsidy will slightly ease the burden but still the costs will be considerable.
You can’t rely on solar energy every time. The output will be unsteady and it will vary depending upon the climate of your region.
- High Repair Cost
Though the components of your solar farm are less likely to get damaged, but if they do get damaged then you’ll have to spend a large amount of money in order to repair them. That’s why for emergency you’ll be required to keep a large amount of money with you.
Solar power is the future. Researches are being done in order to make it more efficient. It is said that solar power will become the largest source of energy by 2050. And it’s not only about the future, even right now solar farming can provide a company with a steady and durable source of income. And if this is what you are looking for then do give solar farming a try.