Countries around the world are struggling to achieve carbon reduction by the year 2030. Renewable solar and wind energy are a critical factor in national plans to fuel lifestyles without the carbon output. In the next few years, all countries have growth potential in solar energy. In fact, it seems the world is transitioning to solar power! Germany, India and United States lead the pack with tremendous promise of growth in solar power.
One of the perspectives overlooked is the projected growth in demand for electrical power. Appliances are evolving with added computer capability and new devices are invented for daily convenience. It is clear that more electricity will continually be required maintain current lifestyles. Awareness of an increased need for power only exacerbates the need for renewable, clean energy resources.
Individuals can speed up the transition. Homeowners don’t have to wait to community solar projects. Individuals can convert their homes to solar power without losing electrical conveniences we are used to today. The real question is why have we waited so long?
Is Solar Power a Proven Technology?
Before investing the money into a solar conversion, homeowners needed to know the technology worked, not just in sunny California, but also in other northern climate states. It does. People have been using solar power for years in Minnesota, Massachusetts and New York among other northern states. When tied into the grid, homes powered by solar panels have provided all the convenience of fossil fuel sourced power.
Is Solar Power Affordable?
Solar power has become affordable. Hard costs of solar installations dropped over 70% in the last decade. As technology and supply of panels have improved, capital costs will probably stabilize at low levels. This opens the door to developers investment on commercial solar projects.
Couple the drop in costs with the 26% tax incentives on both residential and commercial solar conversions. It can cut your taxes by as much as 26% of the cost of your solar power system installation.
Once installed, the savings on electric bills begin immediately. Homeowners have been touting a savings of around $3,000 a year, though it varies by home size, lifestyle and other factors. Many homeowners claim that after the first seven or eight years, the system has paid for itself. From there on out, that $3,000 savings a year is pure money in your pocket. Even maintenance costs are exceptionally low because solar panels don’t have moving parts like wind turbines. Imagine helping the environment AND saving on all those utility bills!
The lifespan of solar panels is rated at 25 years. Now that homeowners have had them in place for decades, many are reporting back that panels are even lasting 30 to 40 years. Still, if they only last the 25 as rated, your return on your investment begins from the 8th through the 25 year. That’s 17 years times average savings of $3,000 a year. That totals roughly $50,000 in lifetime savings.
Is Solar difficult to maintain?
Maintenance on solar panels is about clearing off snow and cleaning the panels a few time a year. The panels usually last due to lack of moving gears etc. The inverter may need to be replaced before the panels go. Storage units may need to be replaced. Overall, there is little maintenance required on solar power systems. Countries have identified renewable energy like solar and wind as being the best potential method of decarbonizing the economy and complying with the Paris Agreement. The United States is encouraging communities and individuals to convert to renewable power by offering tax incentives. It is also considering restrictions on fossil fuel usage over the next ten years. The world is transitioning to solar power because it now recognizes solar as clean green energy of the future. You can not only participate in the transition, but you can save substantial money when you do. In Minnesota, Visit Renewable Solar Resources or call (888) 432-9024 to schedule your free solar consultation and energy audit. You may be surprised at how easy it is to convert when you go through Renewable Solar Resources.