ENERGY PAYBACK TIME: : The time it takes for a PV module to generate the same amount of energy required for its manufacture. A modern photovoltaic module’s energy payback time is typically from 1 to 4 years, depending on the module type and location. A typical module lifetime is 20 to 30 years. This means that modern solar systems are net energy producers, i.e., they generate significantly more energy over their lifetime than the energy required to produce them.
FEED-IN TARIFF: Price scheme where the owner of a (solar) power system receives a guaranteed, fixed price from electricity companies for the electricity fed into the grid.
FINANCIAL INCENTIVES PROGRAMS: Several countries offer financial incentive schemes that make the cost of the system cheaper for the end user. These financial incentive schemes can be feed-in tariffs, tax credits and others.
GRID-CONNECTED OR GRID-TIED SYSTEM: Solar power system connected to the electric grid.
GRID PARITY: Grid parity is when solar cells can produce electricity at the same price as the electrical energy you can buy off the grid, (or less) without subsidies or feed-in tariffs.
IEA: International Energy Agency.
INVERTER: A unit that converts the electricity from the solar system (DC – Direct Current) to electricity that is compatible with the grid (AC – Alternating Current).
kW: Kilowatt, Unit of power (1 000 watts).
kWh: Kilowatt-hour, a unit of energy equal to the production or consumption of one kW (1000 watts) for one hour.
OFF-GRID SYSTEM: Solar power system not connected to the electric grid. Normally used in areas where grid-connected electricity is unavailable
or available only at a high cost.
PHOTOVOLTAICS (photo=light, voltaic=electricity): Solar cells are made of silicon. When a photon (particle of sunlight) strikes a molecule within the solar cell, an electron is knocked free. An electrical field causes this free electron to move to one side of the cell. The accumulated effect of millions of this interaction generates electricity.
SOLAR CELL: A semiconductor device that creates electricity when exposed to sunlight. Solar cells are usually made from silicon wafers.
SOLAR ENERGY: Refers to electricity or heat energy made from solar radiation.
SOLAR MODULE: An interconnected assembly of solar cells covered by a glass front, a polymer back sheet and aluminum frame. The photovoltaic module, more commonly known as the solar panel or solar module, is then used as a component in a larger photovoltaic system to offer electricity for commercial and residential applications.