The US Department of Energy created a program named “Sunshot” to reduce photovoltaic (PV) installation costs to $1 per watt. Their goal is to lower the installation cost before consumers receive tax credits and utility incentives, which greatly offset the final cost and make solar power systems more affordable. There is still the problem of how to store electricity that is generated from solar panels. Storage is the “holy grail” for renewable energy. The Colorado PV system owners can get the full benefit of electivity sent back to the grid during sunny hours through net metering. Net metering is an electricity policy that allows utility customers to self produce renewable energy to offset some or all of their energy costs. The electricity meter spins forward when electrify is being used at a higher rate than it is generated. It spins backward when electricity is being sent back to the grid. In essence, if you use less electricity than you generate, you can greatly reduce the cost of your electric bill monthly. In the 1980’s, costs were about $100 per watt for PV. Costs are currently between $2-4 per watt depending on the size, site conditions and materials used. This made a decrease in the installation price of approximately 95 percent. Panel costs have dropped so that they are only about 1/3 to 1/4 of the installation cost. The rest of the cost is for inverters, racking, labor, wire and paperwork costs such as the city and county permits required and utility company requirements for interconnection to homes and businesses. Solar installers are working diligently to reduce all costs from every area. Solar panel manufacturers are losing money or barely profitable at current market prices for solar panels, so the panel costs will likely not drop much in the short term. From my perspective, the goal of $1/watt is inspiring, but even if the panels were free at this time, we would not be able to install them for $1/watt. Solar installation costs should drop slowly by a few percent per year while the move to solar energy increases. The National Community Solar Partnership was created by the Office of Energy Efficiency & Renewable Energy. The mission of the partnership is to expand solar access to new demographic and geographic markets and increase deployment in low and moderate income communities. The partnership was created and announced on July 7, 2015 in a White House fact sheet. Colorado is an active partnership member in this project. At the moment, some communities cannot delve into the solar power industry. This includes people who rent homes or apartments. Buildings with little roof space cannot produce enough green energy through solar power to support the amount of residents, such as in the case of apartments and high-rise buildings. The partnership is actively working on storage methods to make the power available to these electrical customers. They are investigating on- or off-site shared solar to provide power to all markets. The PV market should increase from 5.5 to 11 percent by the year of 2020 according to their estimates. In the interim period, most Xcel incentives are almost gone, but United Power incentives are the best in the Denver Metro area at 10 cents per watt. IREA has no incentives and is determining how to reduce net metering credits as well. Highline Electric association in northeastern Colorado has the best incentive for solar energy at $2 per watt with a maximum cap at $6,000 or 3 KW, for residential systems and up to $20,000 or 10 KW for commercial systems.

As the U.S. invests more resources into solar energy production, the economy will gain momentum. The economic impact derives from potential savings to businesses, the creation of jobs within the solar energy industry, the need for skilled workers, and reducing reliance on foreign countries for fossil fuels. Take a look at how each of these solar energy benefits will improve the U.S. economy in the coming years.

Savings to Businesses

Investments in a business have the common goal of making or saving money. For example, an investment into a more energy-efficient heating and cooling systems helps reduce electricity costs. The same principle can be applied to the installation of solar panels. Paying less for electricity consumption and receiving tax credits allow the business to use the savings on other needs, which include wages. Commercial and residential building owners can receive up to a 30 percent tax credit through the end of 2016, reports the Solar Industries Energy Administration®. As a result, employees achieve greater economic stability. These savings help improve the economy through increased consumer spending on all levels.

Creation of Jobs in Solar Energy Production

Solar energy companies, such as Golden Solar, contribute to the economy through business growth. As a solar energy company grows, the business must invest more resources into the company. For example, the business will need to purchase additional equipment, expand headquarter premises, and hire more skilled workers. If the business opts to build new operation centers, construction costs will be incurred. Each expense represents income through the employment of construction crews, installation technicians, office staff and those selling products to the company. Therefore, the company helps to create and sustain additional jobs, which improves the economy.

Increased Demand For Trade Education

Between 2012 and 2022, the demand for photovoltaic installers, or PV installers, is expected to grow by 24 percent, asserts the Bureau of Labor Statistics. For a person to become a PV installer, most companies require training and solar panel installation instruction through a trade school, apprenticeship or other post-secondary educational institution. This further improves the economy as more people climb out of poverty and into a credible, growing work environment.

Decreasing Reliance on Fossil Fuels

Within the past decade, the U.S. has seen some of the worst environmental and political disasters in history. Consider the impact of the ISIS and the BP oil spill on fossil fuel production. Today, the U.S. needs to focus on obtaining a reliable, safe source of energy. Solar energy production lacks negative environmental impacts and can be operated at nearly any location in the U.S. As a result, U.S. reliance on foreign oil for energy production is gradually decreasing, which allows for increased investments into U.S.-based markets. Furthermore, this places the US in alignment with other environmentally-conscious countries. Since the cost of harvesting solar energy is much lower and safer than the harvesting of fossil fuels, it can bring savings to millions of Americans through reduced energy costs. Utility-scale solar energy harvesting is expected to grow by 100 percent by the end of 2016, reports the US Energy Information Administration. As the U.S. continues to move in the direction of harvesting renewable sources of energy, especially solar energy, the U.S. economy will continue to improve.

There are very few objections to solar power, and yet it still hasn’t been as universally adopted as we might like to see. There are practical and aesthetic concerns of course, but some of it does seem to be rooted in people’s resistance to change. While many property owners are interested in investing in solar panels, many are hesitant as they believe solar panels are an eyesore.  Thankfully, many solar panel manufacturers are working around the clock to create solar panels that are  not only energy efficient but aesthetically pleasing as well.  A great deal of effort is striving to make these panels look sharp, modern and able to fit with any home decor.

The purpose of solar power

The purpose of solar power is to let the sun do all of the work. No more mining for fuel, no more wiring fiascoes: just natural light powering everything we own. It sounds fantastic, but humans are still new to this process. Companies are trying out different ventures to see what their niche is in the market, and who they can work with to achieve success. For example, Emirates Insolaire in Dubai has partnered with SwissINSO SA in Switzerland to develop colored glass which can fit onto most solar panels. The colored glass has already been installed onto the facade of a building in Switzerland, and is estimated to be able to meet the needs for 2 families for a year. These types of efforts are still in their infancy, but can translate into real change. At Eindhaven University in the Netherlands, you can find colored glass lining a highway, which looks beautiful and promotes renewable energy to everyone who passes by. It also serves as an excellent sound barrier, and the glass can be used at a variety of different points in any city from bus stops to outdoor furniture. While colored glass currently won’t generate as much electricity as traditional panels, it is both cheaper and nicer looking than the regular black panels. Solar power is a beautiful thing, but if people perceive the actual means to get it as ‘ugly’ then the world may never even see the benefits. There are clear trends in solar power, and it seems poised to make the breakthrough that will get everyone (and we mean everyone) to start seeing solar power as the only way to go. The energy collection methods, price and installation process continues to improve in both big and small ways every single day. Sometimes it just takes a small shift it people’s lives, such as a neighbor getting solar panels or the local high school promoting renewable energy to create a much bigger impact on the world.