Solar Power and Energy Today
Solar Power is the act of harnessing the energy in the sun’s rays to use as power here on earth. It is a natural resource with boundless potential as an alternative energy source. The ongoing discussion around energy sources and their sustainability often reference solar power as an alternative to other energy resources, such as fossil fuel, wind power, or water power.
Many businesses and homeowners are looking for ways they can incorporate solar power into their energy use. Solar panels on roofs and elsewhere are often installed in homes or buildings in hopes of shrinking an energy footprint. People who are trying to live “off the grid” (or without being part of mainstream consumption in society) seek solar panels in their quest for other ways to have electricity. Currently less than .01% of the world’s harnessed energy came from solar power technology. Some cities are working on improving their solar power output, while at the same time creating “green roof” buildings. These buildings can include plants, trees and other eco-conscious amenities that may not be commonly found in urban settings.
Is Solar Power Financially Viable?
Deciding to install solar panels on your house is a big one. You may be wondering if it is worth the cost of installation, and what the savings will be down the line. A 5kw Solar System is a little over $3 a watt. The installation runs about $11,000, after potential federal and state rebates for homeowners. According to Google’s Project Sunroof solar panels on a home in Denver, Colorado can save around $3000 a year for a homeowner with solar panels at their residence. That means it would take a little over three and a half years for the panels to pay for themselves, so to speak. So, if you plan to be in your house for a while, solar panels are a smart way to save on energy costs. If you are in a shorter-term housing situation, solar panels might not be the best way to save money on utilities.
Will the Government Pay for My Solar Panels?
The government can help homeowners offset the cost of solar panel installation. There are many guides online that will help you find the most affordable way to convert your home’s energy use to solar energy. The Federal Housing Administration allows homeowners to roll the cost of solar panel installation into their mortgage. Solar loans are also available, often at a cost that is lower than a homeowner’s typical energy bill.
There are many things to research when you are looking into solar panels for your home. You can check federal and state government programs. There might be certain tax incentives for installing solar panels at your residence. You can also check with your local bank to see what financing options are available in your area. Solar energy is cleaner and more sustainable than other types of energy use. It is accessible to many, but not all, home and business owners.