Solar PV is now, after hydro and wind power, the third most important renewable energy source in terms of globally installed capacity. More than 100 countries use solar PV. Installations may be ground-mounted (and sometimes integrated with farming and grazing) or built into the roof or walls of a building (either building-integrated photovoltaics or simply rooftop).
In 2014, worldwide installed PV capacity increased to at least 177 gigawatts (GW), sufficient to supply 1 percent of global electricity demands. Due to the exponential growth of photovoltaics, installations are rapidly approaching the 200 GW mark – about 40 times the installed capacity of 2006. China, followed by Japan and the United States, is the fastest growing market, while Germany remains the world’s largest producer, with solar contributing about 7 percent to its annual domestic electricity consumption.
The size and location of your property will determine if wind, sun and/or water can be harnessed for long term generation. A significant benefit can be achieved from the members’ own power generation using the sun. And the results mean real cash savings because by installing a solar panel system, you will see your power bill reduced and a good investment return as well.
e.g. A member who has savings in the bank of $6,500 will receive around $204 per year interest (3.1% after tax). If that money was spent on power generation the reduction in power bills could be around $780 every year. That is an equivalent return of 15%. * (figures refer to 2015)
*Assuming tax of 17.5% and a small PV system operating on the member’s property. (Savings increase if the member’s tax rate is higher.)