Final answer:
Photovoltaic (PV) systems are cost-competitive especially when environmental costs are considered, and while they present challenges like intermittency and high upfront costs, their reduced lifecycle emissions and potential for integration into buildings make them a compelling choice for sustainable energy.
Step-by-step explanation:
Solar Photovoltaic Systems: Cost and Competitiveness
Regarding the statement that photovoltaic (PV) systems are generally cost-competitive when environmental costs associated with fossil fuels and nuclear energy are considered, it is true to an extent. While PV technology has successfully been deployed on rooftops around the globe, its life-cycle CO₂ emissions are significantly lower than those of traditional fossil fuels. Moreover, PV systems can be a suitable solution in areas without readily available utility electricity.
However, some challenges exist. PV systems are inherently intermittent, raising concerns about the balance of the electrical grid, and they still have high upfront costs compared to traditional energy resources. While electricity may not be the best fit for all energy demands currently, such as transportation and industrial heat/processing, solar energy still has a quantitative advantage overall.
Furthermore, PV systems can be integrated into buildings or over parking lots but may impact sensitive ecosystems if not correctly located and managed. The overall cost over the lifetime of the panels can be competitive, but with the investment being upfront, it presents a barrier for adoption. Nonetheless, the trend in lowering costs and zero fuel cost are significant factors in the popularity of solar PV systems.