High upfront cost: Although utility-scale solar has a lower cost per watt than residential solar, the sheer size makes a solar farm such a significant investment, reaching millions of dollars to build.
High upfront cost: Although utility-scale solar has a lower cost per watt than residential solar, the sheer size makes a solar farm such a significant investment, reaching millions of dollars to build.
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At $0.98 per watt, a 1 MW solar farm will cost roughly $980,000, not including land acquisition costs. Solar farms are large ground-mounted solar installations that occupy vast areas of open land and provide clean energy generated by the sun. By large, we mean solar installations with megawatts of capacity.
You can save 5% to 20% per year on electricity costs by subscribing to a community solar farm. The savings is more difficult to calculate if you plan to build and operate a solar farm. After the initial payback period, you essentially have free electricity for the remaining life of the farm. Are solar farms profitable?
Solar farm ROI depends on a multitude of factors that can impact how much you see in returns. These include: Your ROI may vary depending on the type of solar farm you choose for your investment. There are three types of solar farms that you can invest in: utility-scale, community, and microgrid solar farms.
The cost of solar power has dropped sharply, positioning the U.S. for an outburst of solar photovoltaic installations. Many governments provide subsidies or tax credits to incentivize solar installations. Corporations are also investing heavily in solar systems, contributing to the optimistic economics of solar power.
