Free electricity sounds great, doesn’t it? Surprisingly, solar power has been around much longer than you may think. And with time and technology, it has improved and is now becoming more popular because of its availability. In fact, last year solar power installments broke records by doubling over the previous year.
According to energy.gov, Since 2008, U.S. installations approximately 5.7 million American homes have received power from the 1.2 GW installations. Two years ago, Google launched their program – Project Sunroof – and researched the viability of solar panels. Their findings indicated more than 75% of US rooftops are viable for solar. And, in 2014, Forbes reported a savings of as much as $84 per month on your electric bill with the use of solar energy (not to mention reducing your household’s carbon footprint by an average of 35,180 pounds of carbon dioxide per year).
Additionally, as solar and renewable energy has transformed and evolved, so has the price has gone down, as well as accessibility. Combine that with available tax credits and incentives, the leap to solar may not be as long and hard as you believe.
One great aspect of solar energy conversion is that it does not have to be a complete conversion. It can be installed on large or small scales so you have room to expand as you want. Testing the waters may be the thing to help you determine if you want to do a full conversion or not, but by most accounts, investing in solar energy for your home has increased the resale value of homes and returned the amount of the investment, plus the money saved on monthly power bills.
According to the Solar Energy Industries Association, “solar energy in the United States is booming.” They report the cost to install solar has dropped by more than 70 percent since 2010 and this has led to a very strong market in solar energy. In fact, solar has had an average annual growth rate of 68% over the past decade. Globally, solar power grew by 50% in 2016.
Decriers of climate change sometimes admonish solar on principle without considering the cost-savings. Solar is not just about energy efficiency or carbon footprints. It is also about the bottom line.
Considering the market growth in solar, new innovations and advances in technology, along with the exponential growth and transformation of solar power, this market is not likely to go anywhere. Rather, it is projected to evolve and expand.
Stay tuned to Golden Solar for more industry news and tips to go solar.
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