Abstract—The fundamental economic reality of fossil fuels is that such fuels are found only in a relatively small number of locations across the globe, yet are consumed everywhere. The economic reality, by contrast, is that solar resources are available, in varying degrees, all over the world. Fossil fuel and solar resource use are thus poles apart – not just because of the environmental effects, but also because of the fundamentally different economical, logical and differing political, social and cultural consequences. These differences must be acknowledged if the full spectrum of opportunity for solar resources is to be exploited. Therefore, this study concentrates on solar power as a renewable source of energy. It has many benefits compared to fossil fuels. It is clean and green, nonpolluting and everlasting energy. For this reason it has attracted more attention than other alternative sources of energy in recent years. Many energy economists say that solar energy is going to play an increasingly important role in all our lives. To highlight the importance of such a source of energy becomes not only important but also inevitable. This paper analyzes the determining factors of solar energy usage and also analyse the cost benefit of the different solar energy devises usage.
Index Terms—Solar energy, electricity, cost benefit
S. Chinnammai is with University of Madras, Chepauk, Chennai 600 005,Tamil Nadu, India (email: pragathauom@gmail.com)
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Cite: S. Chinnammai, "An Economic Analysis of Solar Energy," Journal of Clean Energy Technologies vol. 1, no. 1, pp. 18-21, 2013.
