Green Business Assignment Example | Topics and Well Written Essays - 1000 words

Green Business - Assignment ExampleI have decided to install some renewable cite of mightiness that does not require any fossil fuels such as coal, petrol or diesel. Also by using such renewable source of power, I will help reduce the load of CO2 from the environment. For renewable source of brawniness, it has been decided to install solar PV cell open up system that not only when meets my energy requirements but will produce surplus electricity that will be sold at the prevailing rates to the electrical grid. The advantage is that the PV based solar energy is covered for feed-in-tariffs for the generation of renewable power and that is how this project dissolve move over decent revenue even after meeting confined requirements. Producing and Selling Green Energy The technology selected is solar PV cell based with inverter, batteries and meters. PV cells or in scientific world known as photovoltaic is meaning of the system. The benefit with such technology is that it is eco- friendlywithout any harmful effects on environment. It requires only one-time capital investment and there is no operating cost involved. nutriment cost is hardly any except batteries that need to be replaced only after 3-4 year period. The photovoltaic cells are made of silicon microchips or wafers and ascribable to their unique property they absorb solar energy to produce electrical energy. Higher the solar energy, more the electrical current or power it can produce. The direct current can be converted into AC current by the equipment called inverter and the power can be stored in the array of batteries. A representative PV based solar energy system can be shown as per the following diagram. Source http//homepower.com/basics/solar/MainDCDisconnect Project Report for PV based Solar System Installation Capacity- 10kWh Name of the Company Producing PV Solar System 1. Freesource Energy, UK 2. Techno Sun, UK 3. First Solar, US 4. Solar Europa, UK The plan is to produce 10 kW-hour of renewable source of energy with captive consumption of 5kW-hour and balance will be sold to the electric grid at the prevailing rates. Costs The current cost of 2.77kW-hour system is found to be ?11,000 (including VAT at 5%). The investment required for 10kW-hour system is approximately ? 45,000. (Solar Electricity) Consumption The Production unit will consume 2kW and balance 8 kW will be sold to the grid through a scheme called feed-in-tariffs. Understanding Feed-in-Tariffs The Feed-in-Tariffs are available to those who own and produce renewable source of energy. The tariffs for Solar PV based unit for 4-10kW production unit are 37.8p/kWh of energy. The benefit is available for the duration of 25 years. (Tariff Levels 2011) Revenue Calculation A) By Selling redundant Power The surplus power that is available is 8kW and that can be sold to grid. Considering daily production for about 12 hours, the per day revenue will cause 37.8?8?12 =?36.28 Considering 150 days of solar energy p roduction in a year (number of days solar energy available) it will generate revenue of 150?36.28= ?5443 B) Saving Incurred by Captive Consumption Captive consumption is again 2kW and since no operating cost is involved to produce it, whatsoever payment is made in buying grid electricity is now saved. Considering conventional average grid electricity charges of 10p per kWh, and working of 10 hours in a day, per day saving comes to 2?10?10=?2 Again, assuming available benefit for 150 days (number of days s