Last Updated on November 22, 2022 by admin
Future of Home Solar Energy: Some Reasons for Bright Future
The prediction will not go wrong that the “The future of solar power is bright”. The main reason behind all is the sun never ends shining. It provides a clean, safe, affordable, and renewable energy resource at an almost incomprehensible volume. The amount of US one-day radiated energy is enough to supply power to the whole country for almost a year. The most beneficial role of this solar energy is the cost. As the sun is the main source for producing solar power is sun and it never stops shinning so the cost is almost nothing.
We will highlight briefly in this article the reasons for the shining future of solar.
Solar is Environment Friendly
Solar energy will be a vital source of power in the coming years because of its environmental impacts. We can recycle resources of renewable energy to generate power input. Solar power also refers to clean energy because it is environmentally friendly. Also, it transmits fewer greenhouse gases which are also beneficial for our society in various dimensions like economic, social, and environmental. The main renewable energy resources include solar, hydropower, biofuel, biomass, etc.
Solar energy for power production has some considerable positive environmental impacts. Choosing solar is the best, sustainable and eco-friendly option to lighten up homes. Going solar not only saves your money but also helps you to contribute towards a clean environment. Selecting solar is as following the change for positive movement towards protecting the earth.
Financial Future of the Solar Industry
As, the unpredictable fossil fuel price is pushing. So, many investors to the solar power business which remains constant and also profitable as the harnessing of solar energy technology improves.
According to the Energy Policy Act 2005, a 30% federal tax credit was formulated to arouse the usage of renewable energy production on both levels: residential and commercial. The Solar Investment Tax Credit proved very successful and it will remain beneficial also in the future.
The solar Investment Tax Credit (ITC) is one of the significant elements of federal policy to promote the usage of solar energy in the United States. SEIA successfully supported and made an extension of the credit in 2008. This provided business certainty to project developers and investors. The ITC continues to drive growth in the industry and job creation across the country.
The Future of Solar Energy for Homes
On the local or home solar level, increased output and huge advancements in the performance of solar panels made home solar energy not only sustainable but also less expensive than traditional utility companies.
Almost over 600,000 homes and businesses installed with solar power. In 2014 alone, 200,000 of these installations were completed. In 2014, solar power accounted for 32% of all new electrical power generation in the United States. Also, An added benefit of home solar power is increased property value.
Furthermore, Increased property value is an additional advantage of home solar power. According to a recent study conducted by Berkeley Labs, “those home buyers are consistently willing to pay PV home premiums across different states, housing and PV markets, and home types; average premiums across the full sample equate to approximately $4/W or $15,000 for an average-sized 3.6-kW PV system.” Advances in battery technology are also propelling the solar industry forward.
It can be said concluding all that Solar energy becomes a big “win-win” situation. Solar is not only a good way to help save the world, but it is also a good financial investment. This has resulted in an explosion of solar power generation on both the residential and commercial levels over the last few years, with no end in sight.
Hurry up and be a part of clean, sustainable, and environment friendly solar world by choosing perfect solar for your home. You can get a FREE quote by visiting the SolarSME, Inc. website. Or, give us a call on 214-556-8288 for consulting with our energy experts about the best solar system options for you.