Those in the solar energy field are presumably facing one of their most difficult current conundrums. Even though prices of solar modules continue to fall rapidly, balance-of-system (BOS) costs are increasing. This unfortunate scenario has led to an extensive look at the forces shaping development of solar energy projects. A recent white paper released by IEEE Spectrum provides much-needed context around these eye-popping findings. This white paper provides recommendations and analysis for the growing BOS cost component as a share of overall system costs. It similarly offers recommendations for how state and local governments can address these escalating threats.
Solar module prices are tanking. At the same time, stakeholders in the solar energy sector are becoming more concerned about increasing balance of system (BOS) costs. Costs for everything other than the actual solar panels that comprise a solar power system have shot up especially. In addition, they have increasingly accounted for more of the total project costs. This new cost paradigm requires a new way of thinking about how we create and deploy solar energy projects.
The Rising Challenge of BOS Costs
BOS costs have been rising quickly, forming a major barrier to solar energy projects. This emerging trend is no easy task for developers. They need to maximize return on investment (ROI) and still ensure solar energy is cost-competitive. As BOS costs rise, they put the financial feasibility of projects at risk. Industry practitioners need to confront this challenge right away to have successful projects.
The white paper recently released by IEEE Spectrum addresses this important issue directly. It highlights the issues contributing to the increasing costs of BOS. It highlights the urgent and critical need for new, creative strategies to overcome these trends. The white paper provides a comprehensive examination. This makes it an ideal go-to guide to all those who are interested or already developing solar energy.
Insights from IEEE Spectrum’s White Paper
The insights provided in the IEEE Spectrum white paper are critical for understanding the current landscape of solar energy projects. Continuing changes in BOS costs plays an outsized role on national system costs. It provides examples of what’s being done to be more effective and save taxpayers money. Solar energy is rapidly emerging as an essential component of global energy generation. We need to address these concerns to continue this upward path in this critical sector.
The white paper further illustrates several approaches that can be used to maximize BOS spending. By adopting more intelligent balance-of-system solutions, stakeholders stand to make more projects feasible and, in turn, help bring about a more sustainable energy future.
Accessing the White Paper
If you’re ready to jump straight into the details of the white paper’s discoveries, you can download it from the IEEE Spectrum website. Simply zip on over to spectrum.ieee.org! This new platform is an incredible tool to inform solar development projects. It’s a critical resource for industry practitioners that are mutually interested in addressing increasing BOS costs in an innovative way.
Improving the environment This new resource highlights IEEE Spectrum’s ongoing dedication to sharing knowledge and expertise in the field.
