Solar is soaring
In 2013, more than 4,750 megawatts of solar systems were installed in the United States, generating nearly 13 gigawatts of solar energy. This is a dramatic increase in the popularity and opportunity in solar panels for homes.
It’s also just the beginning.
Although solar is just a fraction of 1 percent of the energy the United States generates, it accounts for almost one-third of all new energy generation. That means that if 100 watts of energy are generated from new sources, 33 watts came through solar energy. Better yet, this increase has the capacity to help save significant money and emissions.
The main reason that solar systems are gaining popularity is that they’re cheaper than ever before. Solar systems are 99 percent cheaper than in 1976, and 15 percent cheaper than in 2012!
A residential solar system installation costs about $4.50 per watt, and an average home uses about 4 watts (depending on size and location). Additionally, installation prices have dropped as well because there are more solar installation companies than ever before.
Solar is actually feasible?
Because prices have decreased so much, installing a solar system is real possibility. There are more solar installers (over 100,000 solar workers and 6,000 companies), great tax incentives and lower prices. There are over 400,000 operating solar systems in the United States and installations continue to grow by 25 percent per year.
Coupled with tax incentives that can cover up to 30 percent of the installation cost, along with more abundant solar financing, installing solar panels is no longer a futuristic device, but a realistic home improvement.
Solar is becoming more feasible and more mainstream as the price has declined, and installing a solar system adds residual value to your home.
Finally, solar adds substantial value to homes and saves on electricity bills. In fact, adding a solar system has traditionally added upward of $20,000 to the property value. Coupled with significantly cheaper energy bills, solar systems can be a big benefit down the road.
Helping your finances
Cheaper solar systems and installations can play a big role in monthly savings, and add long-term value to your home. Visit Chooseenergy.com/solar to connect with a variety of solar suppliers who can help save money and emissions today.
Kevin Lillie serves as a content strategist with Choose Energy, the premier online energy marketplace. In this role, he researches and develops industry insights to educate and empower commercial and residential energy consumers.
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