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Author Topic: USING SOLAR PANELS TO MINE BTC?  (Read 11306 times)
Green Apple
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March 03, 2017, 06:05:45 PM
 #1

Have you ever thought about this?

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March 03, 2017, 11:57:23 PM
 #2

Yes, I've thought about it but it would require plenty of space and money to invest unless you have solar panels  laying around.
As far as I know a solar panel is able to produce a maximum of 150W per square meter and bitcoin miners require a lot of power to operate.
There's some people on YouTube that have set up a solar Bitcoin mine but probably you could get more money by just selling the electricity.

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March 04, 2017, 12:00:21 AM
 #3

Sounds familiar...  Roll Eyes

Oh right.

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March 04, 2017, 06:33:27 AM
 #4

yes many time and it doesn't make any sense, the money spent on a solar pannel to save you few penny, could be better used to buy more asic/gpu/generic miners

solar pannels is simply too expensive, the price should be 0.1 cent per watt or lower, not $1, it's shame because it would be a very good way to power up your farm, but the price is killing it

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March 04, 2017, 11:16:53 AM
 #5

Using solar energy as the source of power for bitcoin mining operation is a good way to save power and electric expenses. I have thought about it before when I was still mining bitcoins using antminer s5. But even though I will install solar panels I will still need to replace my hardware due the difficulty of mining blocks. Mining with S5 nowadays is no longer that profitable and so I sold my machines. If I had only enough funds I will purchase new hardware and install a solar panel on the roof of our house.

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March 04, 2017, 11:29:48 AM
 #6

Good thing to do like wind power or other green energy sources, but if you are using solar panel it means that you are in a place with lots of sunlight=heat and that means you'll need to think about cooling system more seriously.
And for it to be profitable you'll need to have a vast solar farm, we just need the technology to be more mass produced and mass friendly as well (cheap).

Betwrong
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March 04, 2017, 01:26:13 PM
 #7

Have you ever thought about this?

This topic was discussed many times here already. Check out the links below:

https://bitcointalk.org/index.php?topic=1667666.0

https://bitcointalk.org/index.php?topic=1777988.0

https://bitcointalk.org/index.php?topic=1145324.0

https://bitcointalk.org/index.php?topic=1755829.0

In short, using solar panels you will hardly see ROI in the near future, if ever.

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March 04, 2017, 04:06:13 PM
 #8

Have you ever thought about this?

I think everyone has pointed to a bunch of different threads, but here is my 2 cents.  I have 5.6 KW of solar on my roof.  It generates this time of year around 30 KW/h per day.  If you consider a bitmain S9 uses about 34 or 35 KW/h per day, my array that cost $12k will not support a single 13.5 TH S9 running 24x7.  Now if you look at the ridiculous cost of electricity, and we were to pretend that the array on the roof would run the S9 24x7 I would mine around $10 per day.

Ironically, the ROI on the Solar array would then be 3.28 years,  That is if difficulty doesn't go up, and the price of bitcoin stays high.  If I don't mine at home, and I use the electricity to run my home, it will reduce my electric bill (because PG&E in California Rips you off for 2 cent power they buy, and then charge you 19 to 40 cents for) much more than the mining revenue.  This will give me an ROI with the solar array in about 2.98 years, 

So, for me, it is better from a price perspective to mine someplace else like Idaho, Washington, or Oregon where the power is hydroelectric. 

Just for Fun, the cost for electricity is so high here that your power bill if you have a big TV, a computer, internet, and an air conditioner for hot days in the summer can be as much as $700 per month.  Mining (today) with the solar power would make me $300, and not paying PGE and using the solar power in my house saves me $600/mo.  (Less in cool months, but you get the idea)
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March 05, 2017, 05:40:53 PM
 #9

Every time when I have heard about mining and the electricity I thought about solar panels. This way seems me very profitable, of course in the case if you live in some place where there are a lot of sunny days. But nobody gives solar panels for free yet. So, it's going to be investment which you will be able to cover like in a year with the current price for panels and bitcoin.


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Yakamoto
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March 05, 2017, 10:27:30 PM
 #10

Have you ever thought about this?
I think this has been talked about a lot already, and in a nutshell the big issue is that there's a massive investment for the solar panels to keep the miner running throughout the day and an even larger investment if you try to have battery power available for the nighttime mining portion of a daily cycle.

Prices for panels have come down, but there's still a huge amount of money being involved.














 

 

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Azad19
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March 07, 2017, 11:02:09 PM
 #11

Have you ever thought about this?

I'm exploring http://solpad.com/ -> PV with build-in inverter + batteries...
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March 08, 2017, 09:05:16 AM
 #12

This seems like the dream doesn't it? I think everyone has thought about it from time to time, but until the price of solar comes down it's not viable for anything more than a curiosity. As other have stated, you might as well sell the electricity back to the grid.
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March 10, 2017, 09:41:26 AM
 #13

This seems like the dream doesn't it? I think everyone has thought about it from time to time, but until the price of solar comes down it's not viable for anything more than a curiosity. As other have stated, you might as well sell the electricity back to the grid.

I think it's like with everything else, the more people will be buying solar panels the more manufacturers will be producing them and thus the price of them will go down. I really like the idea of using Solar energy but few people can afford it so far unfortunately.

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March 10, 2017, 12:46:59 PM
 #14

Price contra performance needs to get alot better than what exists today. ROI on solar panels are several years and have it power an expensive ASIC will make it even harder to ROI.

Price needs to drop if its going to become reality for most.
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March 10, 2017, 06:37:51 PM
 #15

In my country weather climate change foxes if only rely on solar power means it must look from natural factors alone, so it is not possible simply to rely on solar power, but power is also important. Indeed, by mining using solar energy is much better to save electric power source.

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philipma1957
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March 10, 2017, 06:45:23 PM
 #16

Have you ever thought about this?

This topic was discussed many times here already. Check out the links below:

https://bitcointalk.org/index.php?topic=1667666.0

https://bitcointalk.org/index.php?topic=1777988.0

https://bitcointalk.org/index.php?topic=1145324.0

https://bitcointalk.org/index.php?topic=1755829.0

In short, using solar panels you will hardly see ROI in the near future, if ever.

to put those in and not put this one in is wrong


https://bitcointalk.org/index.php?topic=1369207.0


we turn a profit.

but my partner buysolar has a solar business  so:

 1) cheap to install

 2) cheaper to buy  panels

 3) We are in New Jersey  we have good incentives to make a large solar array.

New Jersey = good state
Massachusetts = good state

Most others will not turn a profit doing this.

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March 12, 2017, 01:20:46 AM
 #17

Not only is a solar panel a big expense that will only save you money in the long haul, it also is not nearly as consistent as you will need it to be unless you have a battery that it charges and a low enough usage compared to how much you get per day.

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March 12, 2017, 03:33:34 AM
 #18

Not only is a solar panel a big expense that will only save you money in the long haul, it also is not nearly as consistent as you will need it to be unless you have a battery that it charges and a low enough usage compared to how much you get per day.

Wrong  basically almost no battery setup is any good.


you need to be grid tied.   sell excess in the day and buy back at night.

mining at no cost 24/7   since what you sold = what you buy back.

most states in the usa do not have good incentives for this.

this is why solar does not work well as most companies buy back at terrible rates.  or worse don't buy back at all.



if Elon Musk or someone else ever gets a really good battery solar would work all over the world.

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Wilhelmus
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March 12, 2017, 10:43:06 AM
 #19

This is not a that silly idea : there is solar panel that can be found at a retail price of 0,4$/W. My country offer great incentives for people to use solar panels : they buy the electricity at 0,21$/kWh, while you can buy regular electricity at 0,16$/kWh. This way, solar panels can be a great addon to your mine.
LittleBitFunny
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March 12, 2017, 10:58:33 AM
 #20

Have you ever thought about this?

This topic was discussed many times here already. Check out the links below:

https://bitcointalk.org/index.php?topic=1667666.0

https://bitcointalk.org/index.php?topic=1777988.0

https://bitcointalk.org/index.php?topic=1145324.0

https://bitcointalk.org/index.php?topic=1755829.0

In short, using solar panels you will hardly see ROI in the near future, if ever.
I don't agree with this.  There are so many factors which determine that.

For one thing, the effectiveness of solar panels varies from country to country.  In several countries the governments subsidise the price of them to help renewable energy become more financially viable, which makes it much easier, especially in countries with a lot of sun.

Secondly, if you're connected to the grid you can sell your excess electricity to the grid in the day and buy from it in the night, which could result in no cost to you and use of your miners 24/7.

Often, people complain that their electricity costs exceed the money they earn from mining.  This is a way to make mining a better long term investment - literally eliminating most of your fees which makes mining such a tight margin.  Not to mention that you're helping with climate change as a bonus.
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