Sunday, April 2, 2017

Solar Power looks really good


There are many reasons why the solar energy industry has been in the news so often lately. Within the last decade, costs have taken a nose-dive, while volume and usage have steadily climbed. Within the next 30 years, the International Energy Agency predicts that solar energy could count for up to 16% of the globe’s entire energy. As it stands, it generates 1%. However, analysts have been critical of this optimistic growth potential, citing that it would only be possible if governments change their policies concerning solar energy.

The widespread psyche towards solar power was the result of subsidies. Many believed the industry could not survive without government help. However, this point of view is quickly becoming antiquated. In geographical locations where the sun is strongest, solar power actually beats fossil fuel electricity in terms of price, even without subsidies.

The cost of solar has come down dramatically over the last few years. However it is difficult to make money investing in solar energy.

I have found a way to do it that makes sense. I live in Texas and in my area you choose your own electrical retail provider. The electrical providers are constantly offering deals to get you to switch.

I am with a co-op that only charges me for power at cost. Last year they built a community solar project. This differs from a roof mounted solar installation in that it is large scale and individuals buy a portion of the production.

With a larger installation the economies of scale kick in and the cost of the power is substantially less than a roof mounted system. In addition, I do not do the maintenance, no holes in my roof, no ugly panels and yet I still get the 30% solar credit on my taxes.

If something like this is available in your area you might want to look into it as a way to "invest" in solar. My bills are down 25-30% and I am considering buying some more panels in the project.

No comments:

Related Posts Plugin for WordPress, Blogger...