Question

In: Economics

Create a value proposition for a low-cost solar panel car with all the basic electricity requirements...

Create a value proposition for a low-cost solar panel car with all the basic electricity requirements in areas of the world not on traditional electric grids. (400-500 words)

Solutions

Expert Solution

With the fuel options getting limited, there will be time when the world will have to look for other fuel options. That is the reason why we are seeing different automakers working on alternative fuel. Among several technologies that different automakers are working on, solar is one of them. Several innovators are working on solar-powered vehicles. The sun is an eternal and the most sustainable source of energy that can be used to produce electricity to run vehicles. The solar powered cars are not a common sight in India, as these are still under the experimental phase, but these could become a potential alternative for eco-conscious buyers.The government in Libya is planning to increase the solar cars on road by cutting down the tax.

These green vehicles use photovoltaic cells or solar panel, usually have Nickel-metal hydride/ Nickel-Cadmium/ Lithium ion/ Lithium polymer batteries, mounted on top of the car for generating energy from the sun. The sunlight’s energy frees electrons in the semi-conductor photovoltaic panels and creates an electrons flow that produces electricity and powers the battery. The solar battery can store the excessive electricity, produced all through a sunny day, and use it during night or a cloudy day.

Value proposition

Eco-friendly and Quiet: Solar-powered vehicles have zero emission level, as they don’t utilize non-renewable resources and burn fuel. The electric motors generate electricity that doesn't emit any greenhouse gases or any other pollutants. These cars are quieter than the vehicles powered by conventional fuels, which don't cause noise pollution as well.

Energy Availability: Solar cars derive their power from the sun, indirectly, that always shines and provides endless energy. The efficient solar panels can produce and store more horsepower for the vehicle.

No Fuel Costs: Unlike the conventionally fueled vehicles, solar vehicles have no fuel costs and a low cost of maintenance.

Preservation Of Natural Resources: Although the panels and other components of a solar-powered car initially consume energy and resources to manufacture, the solar car would require no additional energy input. Because solar-powered cars consume no fuel and do not require oil changes, their dependence on petroleum-based products is limited to the lubrication of wheels or plastics used in replacement parts. The electric motor and other components of solar cars are potentially maintenance-free, in contrast to the engines in current gas-powered vehicles.

Driving Comfort: Having aluminum and lightweight components, the solar-powered cars run faster and more smoothly than petrol and diesel engine vehicles.


Related Solutions

Solar electricity cost. Despite all the advantages of using solar cells to harvest solar energy, solar...
Solar electricity cost. Despite all the advantages of using solar cells to harvest solar energy, solar electricity still has an insignificant share (~1%) in the world’s overall energy supply picture. This is mostly due to the economic consideration. While there’s virtually no fuel (sunlight) cost and maintenance cost once the solar panels are installed, the initial cost of solar electricity systems is still the obstacle for wide-spread adoption of solar photovoltaic technologies. a. Use the single-crystalline Si solar panels as...
Wayne-Martin Electric Inc. (WME) has just developed a solar panel capable of generating 200 percent more electricity than any solar panel currently on the market.
Wayne-Martin Electric Inc. (WME) has just developed a solar panel capable of generating 200 percent more electricity than any solar panel currently on the market. As a result, WME is expected to experience a 15 percent annual growth rate for the next 5 years. By the end of 5 years, other firms will have developed comparable technology, and WME's growth rate will slow to 5 percent per year indefinitely. Stockholders require a return of 12 percent on WME's stock. The...
Reizenstein Technologies (RT) has just developed a solar panel capable of generating 200% more electricity than...
Reizenstein Technologies (RT) has just developed a solar panel capable of generating 200% more electricity than any solar panel currently on the market. As a result, RT is expected to experience a 14% annual growth rate for the next 5 years. By the end of 5 years, other firms will have developed comparable technology, and RT's growth rate will slow to 7% per year indefinitely. Stockholders require a return of 12% on RT's stock. The most recent annual dividend (D0),...
Reizenstein Technologies (RT) has just developed a solar panel capable of generating 200% more electricity than...
Reizenstein Technologies (RT) has just developed a solar panel capable of generating 200% more electricity than any solar panel currently on the market. As a result, RT is expected to experience a 20% annual growth rate for the next 5 years. By the end of 5 years, other firms will have developed comparable technology, and RT's growth rate will slow to 7% per year indefinitely. Stockholders require a return of 16% on RT's stock. The most recent annual dividend (D0),...
Rocking technologies RT have just developed a solar panel capable of 200% more electricity than any...
Rocking technologies RT have just developed a solar panel capable of 200% more electricity than any solar panel currently on the market. As a result, RT is exoected to experience a 15% annual growth rate for the next 5 years. By the end of year 5, other firms will have developed comparable technology and RT’s growth rate will slow to 5% per year indefinitely. stockholders require a 6% return on tje stock. The most recent annual dividend (D0) was paid...
Reizenstein Technologies (RT) has just developed a solar panel capable of generating 200% more electricity than...
Reizenstein Technologies (RT) has just developed a solar panel capable of generating 200% more electricity than any solar panel currently on the market. As a result, RT is expected to experience a 15% annual growth rate for the next 5 years. By the end of 5 years, other firms will have developed comparable technology, and RT's growth rate will slow to 7% per year indefinitely. Stockholders require a return of 13% on RT's stock. The most recent annual dividend (D0),...
Benefit Cost Analysis: You are trying to decide if you should place a solar panel on...
Benefit Cost Analysis: You are trying to decide if you should place a solar panel on your apartment. You can buy the solar for 1000 dollars today, and it will reduce your electricity bill by $300/year from today until you graduate four years from now (NOTE: this means it is a 4-year project). If you face an interest rate of 10%, should you buy the solar panel for your apartment? Time Benefits Costs 0 300 1000 1 300 0 2...
If a solar panel system has an increasing annual maintenance cost (an arithmetic gradient) of $500...
If a solar panel system has an increasing annual maintenance cost (an arithmetic gradient) of $500 per year over an 8 year period, then what is the present value based on 10% interest? If a solar panel system has an increasing annual maintenance cost (an arithmetic gradient) of $500 per year over an 8 year period THAT STARTS AT YEAR 4, then what is the present value based on 10% interest? To be clear: the total period is 12 years...
1. The electricity technology (on the roof of all houses) lowers the cost of electricity for...
1. The electricity technology (on the roof of all houses) lowers the cost of electricity for each house. Evaluate the statement: each household benefits equally. 2. Justify why the rational expectation of increased future demand in electricity does not cause the above supply and demand curves to change
Today (year 0) a new 7-megaWatt (MW) solar panel farm is constructed at a cost of...
Today (year 0) a new 7-megaWatt (MW) solar panel farm is constructed at a cost of MYR14 million. 4 years from today, a smaller 6-MW solar farm will be added to the existing farm. The inflation rate on solar panel construction projects averages 8% per year. If the cost-capacity factor is 0.85 for solar panel construction, what is the estimated capital investment for the smaller 6-MW solar farm?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT