How we achieved a 9% return on investment:
The cost of our solar power system was £17,000 but the government paid for 50% which meant it only cost us £8,500 ($13,000). A return of £590 ($903) for that amount of investment equals around 9% return if you take into account that it’s untaxed.
In this economic climate you would be hard pressed to get such a return on investment.
The future
With the cost of photovoltaic panels reducing every year, choosing to purchase solar panels is becoming even more of a sound investment choice.

Mirrors, called fresnal reflectors capture the sun’s rays and heat water in the tube above. Steam lines deliver the solar energy to the adjacent coal power plant where existing coal turbines are used to produce an electric current.

The ideal situation for retrofitting a coal power plant with solar includes:

A large amount of land adjacent to the plant is neededfor solar collectors. Ausra’s fresnal reflector technology requires 2-2.5 acres of land per megawatt compared with 5 acres per megawatt for solar trough systems or 7 acres per megawatt for solar dish engine systems.

High quantities of solar radiation, such as the American Southwest or the Saharan Desert in Northern Africa, give the solar system a higher return on investment and increase the consistency of the solar energy output.

Coal power plants that are located in areas with a carbon tax or cap and trade system in place will have a higher return on investment from a solar retrofit.

At Black & Veatch, a builder of power plants, Larry Stoddard, the manager of renewable energy consulting, said that with a molten salt design, “your turbine is totally buffered from the vagaries of the sun.” By contrast, “if I’ve got a 50 megawatt photovoltaic plant, covering 300 acres or so, and a large cloud comes over, I lose 50 megawatts in something like 100 to 120 seconds,” he said, adding, “That strikes fear into the hearts of utility dispatchers.”

Thermal storage using molten salt can work in a system like Ausra’s, with miles of piping, but if the salt is spread out through a serpentine pipe, rather than held in a heavily insulated tank, it has to be kept warm at night so it does not solidify, among other complications.

A tower design could also allow for operation at higher latitudes or places with less sun. Designers could simply put in bigger fields of mirrors, proponents say. A small start-up, eSolar, is pursuing that design, backed by Google, which has announced a program to try to make renewable electricity for less than the price of coal-fired power

After five years of product development – including aggressively pipelined science, research and development, manufacturing process development, product testing, manufacturing engineering and tool development, and factory construction – we now have shipped first product and received our first check of product revenue.

… Today we are announcing that we have begun shipping panels for freefield deployment in Eastern Germany and that the first Megawatt of our panels will go into a power plant installation there.

As far as the first three of our commercial panels are concerned:

Panel #1 will remain at Nanosolar for exhibit.

Panel #2 can be purchased by you in an auction on eBay starting today.

Panel #3 has been donated to the Tech Museum in San Jose.

Billions of watts of power could be generated this way, enough to provide Europe with a sixth of its electricity needs and to allow it to make significant cuts in its carbon emissions. At the same time, the stations would be used as desalination plants to provide desert countries with desperately needed supplies of fresh water.

Last week Prince Hassan bin Talal of Jordan presented details of the scheme – named Desertec – to the European Parliament. ‘Countries with deserts, countries with high energy demand, and countries with technology competence must co-operate,’ he told MEPs.

The project has been developed by the Trans-Mediterranean Renewable Energy Corporation and is supported by engineers and politicians in Europe as well as Morocco, Algeria, Libya, Jordan and other nations in the Middle East and Africa.

This time around they are contuning their solar power drive by investing in companies that will encourage the use of renewable energy. They emphasize solar power, but they are not limiting the hundreds of millions of dollars they want to invest in solar power.

“Our goal is to produce one gigawatt of renewable energy capacity that is cheaper than coal. We are optimistic this can be done in years, not decades,” Larry Page, Google’s co-founder and president of products, said in a statement.

One gigawatt can power a city the size of San Francisco.

Google is seeking to capitalize on the recent excitement among Silicon Valley entrepreneurs to apply the risk taking that computer, biotech and Internet businesses are famous for to the field of alternative energy production.

Google’s latest moves come as the price of a barrel of oil nears $100 and coal, which produces 40 percent of the world’s electricity, faces regulatory and environmental pressures that could drive up prices.

The Queensland state government said on Sunday it would build the A$7 million ($6.5 million), 10-megawatt power station as part of a push to make Cloncurry one of the first towns to rely on solar power alone.

“The town of Cloncurry has long claimed the title of having recorded Australia’s hottest day — 53 degrees (Celsius) in the shade in 1889, so I reckon we’re on a winner,” Queensland Premier Anna Bligh was quoted as saying by Australian Associated Press.

Solar thermal power differs from photovoltaic panels that make power directly.

The 3 million scrapped wafers each year could be used to create solar panels to power 6,000 houses, IBM said.

“It’s a simple process but it really returns benefits on so many different levels,” Jagielski said. “Not only do we reduce our overall use of silicon, but then to be able to create a raw material for the solar panel industry is kind of a good story all the way around.”