The Solar Industry Is Growing In Murrieta!
The solar industry is growing and cutting costs, leading to an even bigger market. A lot of people will pose the challenge between solar and oil companies, but the solar industry can grow completely alongside the oil industry with no effect on either, he says. We now see that many of the same factors driving the success of the solar industry can potentially contribute to a healthy future for the LED industry as well.
To date, this market is the largest untapped source of low-cost capital that the solar industry can leverage for the benefit of homebuyers and mortgage refinancers. Besides the environmental benefits, the solar industry can provide some high-paying construction jobs and good revenue to an area that is relatively remote. With these policies, Vote Solar works to create conditions under which the solar industry can scale as it continues to lower costs and become increasingly competitive.
The solar industry is rapidly embracing ways to analyze and crunch data in order to lower the cost of solar energy and to open up new markets for their technology.
The solar photovoltaic panel was unveiled around 1954 and since then the cells have become more efficient and are manufactured at cheaper rates. Think of the manufacturing process of the solar panel. There is a requirement of quartz and copper, then the raw materials get converted and encased in protective material, and followed by the shipping process. A question which comes up is whether the solar industry has saved any energy in the process.
The research was conducted by researchers at the University of Utrecht and the University of Groningen. Spearheaded by Dr. Wilfried van Sark, the study was published in Nature Communications. The study states that since 1975, the solar panel industry has been able to prevent greenhouse-gas emissions. The objective was to study the environmental impact of the solar panels over time. The researchers had to find and then calibrate 40 years of data (both economic and energy) from different countries. The study has a best-case and worst-case scenario, and the authors suggested a break-even on the net energy in 2017. In 2018 the break-even on the greenhouse gas emissions is suggested. The optimistic view states that the energy debt was paid off in 1997.
The Biggest Sources of Uncertainty
- Solar environmental impact data age and quality: The environmental impact data from the 1970s to the 2010s varies, as the new data logically would be of higher quality. The older methods of data collection vary over the time. Read more here.
The solar industry can learn from this, making it easier for homeowners to find the information they need online while making the sales process simpler and less expensive for the installers.
The combination of improved efficiency, government incentives, and tremendous environmental benefits make solar power the perfect storm of energy savings. More dependable and accessible than ever, residents from all over the United States are finding out just how reliable solar power is, and that it is no longer just a luxury for upper-class households.
Here’s why there’s never been a better time than right now to invest in solar panels for your home:
- Lower costs than ever before. As the solar industry has grown and technology has developed, the cost of residential solar panels has dropped by 66 to 75 percent. The overall cost of producing solar power has fallen as well, from $76.67 per watt in 1977 to just $0.613 per watt in 2014, according to a study by Clean Technic. As costs have stabilized at more affordable levels, solar power is within easy reach of middle-class households.
- Federal and state incentives and tax breaks. The government has finally caught on that solar energy creates jobs and is great for the environment. By purchasing a solar system for your home, you are officially considered an environmental patron, and therefore entitled to a 30 percent solar Federal Investment Tax Credit. Many state and local governments offer equally enticing incentives. In New York State, for example, up to 69 percent of the cost of a solar system is covered by tax credits and incentives, including a State Income Tax Credit of 25% and a $0.70 per watt upfront rebate from the New York State Energy Research and Development Authority. See more here.
There are other reasons that a quickly growing, yet still very young solar industry can benefit from a more efficient supply chain and communication channel.
There are many reasons why homeowners go solar, but improving the environment and cutting energy costs are the most common. Many people are aware that solar is a great home efficiency upgrade and are eager to reduce their carbon footprint while also improving property value.
Whether your motivations for going solar are economic, environmental, or personal, this sizable list of solar power beenfits will have something for everyone. Here are the top ten reasons why solar energy is good for your home and more popular than ever in the United States.
#1 Drastically reduce or even eliminate your electric bills
Whether you’re a homeowner, business, or nonprofit, electricity costs can make up a large portion of your monthly expenses. With a solar panel system, you’ll generate free power for your system’s entire 25+ year lifecycle. Even if you don’t produce 100 percent of the energy you consume, solar will reduce your utility bills and you’ll still save a lot of money.
#2 Earn a great return on your investment
Solar panels aren’t an expense – they’re one of the best ways to invest, with returns rivaling those of more traditional investments like stocks and bonds. Thanks to substantial electricity bill savings, the average American homeowner pays off their solar panel system in seven to eight years and sees an ROI of 20 percent or more. Read full article here.
Solar Industry Have A Bright Future
However, if this rate of growth is to be maintained, particularly as subsidies and feed-in tariffs begin to dry up, the global solar industry will need to be better protected against sudden and unforeseen risks. By making the marketplace fair in consideration for the environment, the solar industry will see an increase in demand, further pushing solar and other renewable energy technologies forward and lowering their price. Converging business models mean that companies across the solar industry have more common interests and more reasons to co-invest in policy success.
An investment in the solar industry will not only save homeowners and businesses money and have a positive impact on the environment but on the economy as well. Within this rapidly changing environment, the commitment to innovate products according to the specific needs of the solar industry will help you improve your products and processes, call us here: (951) 805-1262. While the solar industry will continue to grow due to leasing options and the falling price of solar, solar advocates fear that the industry will grow at a much slower rate.