Mining with solar energy actually costs only 0.6 cents per kilowatt hour.

I am an electrical engineer from China, responsible for the design and maintenance of solar power stations. Considering that Bitcoin mining is an energy-intensive project, I wonder why not use solar power for mining?

Let me give a simple example: constructing a one-megawatt solar power station in China costs about 3.5 million yuan, approximately 485,000 USD, including all expenses (solar panels, inverters, cables, combiner boxes, mounts, accessories, and construction). Assuming it generates 1000 kW/h per hour and the annual sunlight duration is at its minimum, about 1200 hours, it can produce about 1,200,000 kWh per year. Taking the average commercial electricity price in Los Angeles, which is 12.74 cents per kWh, the annual savings on electricity costs would be 152,880 USD, and the investment could be recouped in just over three years.

The lifespan of a photovoltaic power station is 25-30 years. Let's calculate with the minimum 25 years, factoring in a degradation rate of 0.077% per year. Over 25 years, the station would generate approximately 26.9 million kWh. The cost per kWh would be just 1.6 cents.

This conclusion is based on the least favorable scenario for photovoltaic power generation. Through further research, I found that if the power station were built in Texas or New Mexico, where the effective annual sunlight duration is about 3000 hours, the same 1000 kW/h solar power station could generate about 74 million kWh over 25 years. If this ideal state is achieved, the cost per kWh would be only 0.6 cents.

Of course, if you don't need that much electricity, you could build a 0.5 MW/h solar power station in an area with about 3000 hours of sunlight annually. Even though the scale is halved, the extended sunlight duration allows it to generate about 33.6 million kWh over 25 years. The saved 240,000 USD could be used to build an energy storage system to ensure all the solar energy produced is effectively utilized.

This is just an idea, and I'm here to hear your suggestions. Thank you all.

I have also summarized the advantages and disadvantages of this approach.

Advantages include:

1.Environmental Protection and Sustainability: Using solar power to supply energy for mining activities is an environmentally friendly choice that can effectively reduce the use of fossil fuels and carbon emissions.

2.Long-term Economic Benefits: Although the initial investment is high, the operational costs of solar power stations are low, which may provide good economic benefits in the long term.

3.Energy Self-Sufficiency: In areas where electricity costs are high or the power supply is unstable, solar power provides a controllable source of energy, enhancing energy security.

However, this idea also faces some challenges and factors that need to be considered:

1.Technical and Economic Feasibility: A detailed assessment of the construction costs, operational costs, degradation rates, and the technical issues related to energy storage and distribution of solar power stations is needed.

2.Market and Policy Environment: The viability of the project can be affected by policy support and the power market conditions in different regions

3.Initial Capital Raising: The high initial investment may need to be addressed through financing, which could be influenced by the financial market conditions and investor confidence.