Let's say I have a fixed amount of money that I can either spend on a complete solar PV system (panels, inverter, all the hardware and wiring) or a complete wind system (turbine, inverter, all the hardware and wiring). This is for a typical residential application in terms of power needs and load profile. Let's assume this is an all-electric house with a back-up power source (either the grid, some batteries, a generator, or some combination).
What are the factors I need to think about to determine which choice is better?
Some things that I can imagine could have an influence (but I'm unsure exactly how):
- Whether my backup source is reliable
- Whether I can export (sell to the grid) or store (charge batteries) excess power
- The cost of using my backup source
- Local weather patterns
Background: A few years ago I read an article arguing that solar PV is almost always better, and that as PV costs decline and wind costs remain stagnant (the projections at the time), the position of PV would continue to improve. I'm wondering if this was accurate, and if it's still the case.