What is it about?

Renewable energy sources can be a good substitute for fossil fuels. They meet energy demand, cost less, and reduce harmful impacts on the environment. Photovoltaic (PV) solar energy stands out among these sources. PV technology turns sunlight into electrical energy using solar panels. In Brazil, the PV industry has grown in recent years. But the nation must find a way to lower taxes on imported goods needed by the industry. At present, Brazil imports most of its PV panels. Thus, the PV industry needs government support to stay relevant. In a study, authors proposed a model to check the feasibility of installing a PV system in an industrial sector in Brazil. They found the PV system to be both economically and environmentally viable. This was because PV systems produce less waste and improve economic prospects. These findings could help inform policy decisions regarding PV use.

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Why is it important?

While fossil fuel reserves are depleting, energy demand is rising. This is driving a need for more sustainable energy sources. Solar energy is the major source among these options. But only a tiny part of that energy is being used currently. PV systems harness solar energy and can help achieve economic and environmental goals. As shown in this study, the payback time after installing the PV was just 132 months. Besides, using this system avoided carbon dioxide emissions, which would have otherwise required 25,381 trees to clean up from the atmosphere. These findings may encourage government support to install and maintain PV systems in industries. KEY TAKEAWAY: The study proposes a model to check the viability of PV systems in industries. It also shows the need for political and financial subsidies to help set up PV systems in industries in Brazil.

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This page is a summary of: Economic and environmental feasibility of photovoltaic solar energy in industrial processes, Environmental Progress & Sustainable Energy, June 2022, Wiley, DOI: 10.1002/ep.13916.
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