Why solar is the way to go?

The world is changing continuously, evolving into a technologically better place with each passing day. The future is a mystery and no one can truly predict what’s it has in store for us, but it would not be completely insignificant if we could interpret the recent trends and analyze the data that is coming out of the energy sector. One thing which looks very promising, and about which we can be confidently ascertain of is the fact that solar power is here to stay, and will grow tremendously in the years to come. The sun is a huge energy resource, which can single-handedly cater to the power needs of the whole world. Even though the current figures might not suggest that solar power is a major energy source, but sooner than later, this figure is going to increase drastically.

This article will first draw a simple picture depicting the benefits of solar energy for our readers. Afterwards, we will also discuss the financial benefits and the government policies like tax credits that promote the use of solar energy.

It is a well-established fact now that solar energy comes with a number of benefits. Almost everyone might have heard about the potential advantages that solar brings not only for the house-owner but for the whole environment at large. Just to re-iterate the benefits of solar, let us point out that the effects of climate change are becoming more evident and apparent gradually. It is high-time that we start realizing that we humans need to do something to rectify the situation and save the planet Earth from further damage.

Coming directly to the benefits, the first and foremost reason why solar energy has gained massive popularity throughout the globe is because is it environmental friendly. Conventional sources of energy largely depend upon fossil fuels, and produce harmful pollutants as a by-product. Solar energy on the other hand is clean and does not produce any by-product during the process. Fossil-fuel based power plants produces carbon dioxide and other greenhouse gases in large quantities. This means that this method is not only depleting the natural resources of the planet, but is also becoming one of the leading cause of global warming.

With the rise in global energy requirements and the effects of global warming becoming evident gradually, it is about time the we must all look for better energy alternatives, that would not only help preserve the environment but also make it sustainable.

From a user’s perspective, apart from the financial benefits that solar brings forth for its users, one thing that has been the reason for its massive popularity is the fact that it gives energy independence to the user. While other traditional energy generation methods require huge infrastructure and are controlled by governments, solar power systems can be installed by anyone. Thus, they put a common person in a far better position with respect to their energy dependency. A common person can easily generate their own energy without any hassle. Not only that, they are in complete control of the distribution, storage and the usage of the electricity produced. Solar energy allows a person to reduce or even completely eliminate electricity bills.

From economic point of view, solar energy brings a number of benefits for its users. Many people get confused by the onetime upfront cost that they have to pay in order to install solar power systems. The amount is usually a little hefty, and that is why people get doubtful about whether they are making the right decision or not. But the reality is that solar energy allows a person to save a lot. Other than the one-time upfront costs, a person does not has to pay for anything else apart from minimal periodic maintenance. With a solar power system the right size, a person can completely eliminate the electricity bills, and save a lot of money on the longer run. Electricity prices are directly linked with the prices of fuel, and with everything going up, it is likely that electricity costs will become tremendous in the years to come. Under such circumstances, anyone with a solar power system installed will find themselves in a financially better position.

As a matter of fact, let’s run down a simple comparison of five years. Solar power systems usually require a one-time upfront investment. The total cost of a solar power system for a user will be its initial installation cost, and the monthly electricity bills, if the solar panels are not of enough capacity to meet all the household requirements. Solar panel systems are considered to be long term investments, with a typical life cycle ranging over 20 years. According to different analysts and experts, a user can save up to $21000 on average, if they opt to go for solar energy.

Traditional Electricity Power
Annual Cost $1600
Annual Increase 2.5%
Total Cost (20 years) $50000
Solar Power Electricity
One-time Investment $19000
Annual maintenance $200
Total maintenance (20 years) $4000
Annual electricity bill $300
Total Electricity bills (20 years) $6000
Total Cost (20 years) $29000

Solar panel installation has grown explosively over the past few years, and to support that boom, the prices have plummeted down by around 98% in the past four decades. It would not be any over-exaggeration to say that the best time to invest in solar technology would be now, as the potential benefits of this renewable energy can single-handedly out-weigh the perks of traditional power system.

Not only that, but due to the rising awareness amongst people of the potential benefits of the solar energy, governments and authorities are being forced to come up with favorable incentives. In the United States of America, for example, the federal government has announced a 30% incentive cut for solar installations recently. This means that a solar power system which cost $29000 can be adjusted down to $20000.