There’s no denying that renewable energy has become accessible for homeowners. It’s now clear that more people intend to use renewable options to power their houses. That’s a great sign for those pushing for sustainable alternatives.
The industry might even reach new heights as solar energy works its way into mainstream markets. Solar looks like it’ll become increasingly available and popular for different reasons. Here’s a look at why solar energy currently has the spotlight.
How Many People Have Solar Panels?
The numbers don’t lie. Around 43% of American homeowners say they’ve given solar panel installation serious thought. There are hundreds of thousands of people whose jobs involve solar energy, too. It’s a $17 billion U.S. industry that should double in five years.
This data confirms a countrywide interest in solar power. There doesn’t seem to be a cap for how far solar energy will reach, and it’ll probably be a lucrative sector in America for years to come. That’s especially likely when considering that clean energy has a much better shot under President-elect Joe Biden’s forthcoming administration.
Damage from climate change has become increasingly apparent, and it’s evident that Americans want to help.
Why It’s Now Easier to Install Solar Panels
There are a few reasons why solar panels didn’t gain traction sooner. Price has always been a factor. It can cost up to $25,000 upfront to install a 5 kW residential system, which is a pretty penny before tax breaks. There wasn’t sufficient information before, and homeowners didn’t want to pick new systems unless they understood their benefits.
Fortunately, Americans now have access to cheaper options. The prices for solar have fallen drastically compared to previous decades. That’s because material and installation costs are more affordable and efficient.
People also know more about solar energy than they did previously. Those who want to install panels can easily access knowledge to help them make their decision. This factor might be why many people now want America to invest more in renewable energy overall.
The Benefits of Solar Panels
Consumers can enjoy various benefits from solar power. There are really no downsides aside from potentially high initial costs. Buyers even have a chance to choose among three different solar panel types: monocrystalline, polycrystalline and thin-film. They can also operate separately from their local grid.
Here are three key perks that solar energy offers.
1. It Reduces Energy Needs
It’s easy to save energy when using solar panels. Homeowners always want to find ways to keep energy consumption low so their bills aren’t too high. That’s also key for sustainable reasons.
Solar proves to be a clean yet powerful resource that replenishes. It only uses as much energy as what’s needed immediately. The excess gets stored in a local electricity grid and becomes a credit on next month’s statement.
2. There Are Tax Incentives and Breaks
Here’s another economic perk that homeowners can enjoy. The government offers tax incentives and breaks for those who install residential solar panels. This program helps offset any additional costs associated with solar energy, which is why some people don’t mind their often steep upfront prices.
It’s important to note that solar tax credits have already been slashed from 30% to 26%. Those figures will decrease to zero by 2023 for residents. This plan won’t change unless Congress chooses to update these policies.
3. Houses Sell for More Money
There’s no denying that solar panels weren’t as prevalent 10 years ago. It’s clear that much has changed in this area. Individuals can now anticipate a more than 4% return when their property includes solar panels.
That percentage might vary from state to state. For example, New Yorkers can make around $24,000 as compared to a $9,000 average. Homeowners should check their local market to ensure they make a good financial decision for their situation.
Solar Energy is More Accessible Than Ever
There’s never been a better time for Americans to install solar panels — and more opt for renewable energy every day. That’s a great sign for anyone who cares about environmental issues. The future certainly looks bright for solar energy initiatives across America.