Solar power represents a bright hope in the future power generation. We’re starting to see numerous benefits of solar power overtaking coal and gas but even though it seems advantageous on paper, it is far from taking over. Renewable energy in the United States is applying more power than coal today. It’s estimated that solar and wind power will be responsible for generating electricity for over half the world by 2050. As far as solar power being the main source of energy for the world, we are far from this reality.
One of the reasons that so many people are slow on the uptake with solar power is its profitability. The solar power industry got started as a result of a series of heavy subsidies and government mandates. With taxation benefits and energy credits offered to many people across the United States, solar power is becoming a more attractive option but many of these credits are starting to go away, giving the average business or member of the public less incentive to switch over.
In order for solar power to gain more traction in the market, we will have to look towards convenience and efficiency. The average cost for installing a solar system today sits at around $25,000. As systems become more efficient to build and more efficient in their energy production, the payback period for a solar system will become more advantageous. With most energy credits today, the investment of $25,000 can be returned to the homeowner in an average of 5 to 7 years. Reducing this payback period allows solar panels to be an even more attractive offer for energy consumption.
Solar power is not poised to take over completely at this time, but we could continue to see it making great strides as the technology improves and as costs are reduced for solar energy.
This post was written by Daniel Massaad, owner and expert solar technician at Energy Solutions Direct! ESD is the top choice for solar panels in Tampa! Our licensed and certified contractor are masters of their craft; with years of experience servicing the great Tampa Bay area and beyond, the choice is simple. ESD excels at offering you the best in solar value!