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Even if your solar system doesn’t cover 100 percent of your energy demand, you will still save money on reduced utility bill. If you were to install a solar photovoltaic system that generated enough power to offset this bill entirely, you would be saving $1,410 in year one. With a 3.8 percent increase each year, your savings in year two grow to $1,464 and would reach $1,518 in annual savings in 3 years.
Solar power has a great potential for mitigating the impact of the energy sector on climate change. A research study by the National Renewable Energy Laboratory (NREL) indicates that replacing coal power plants with 100 gigawatts of solar power could eliminate over 100 million tons of carbon dioxide emissions each year. Even now, the 20 gigawatts of solar installations operating in the United States offset 17 million tons of greenhouse gas emissions per year.
In December 2020, Congress passed an extension of the ITC, which provides a 26% tax credit for systems installed in 2020-2022, and 22% for systems installed in 2023. (Systems installed before December 31, 2019 were eligible for a 30% tax credit.) The tax credit expires starting in 2024 unless Congress renews it. There is no maximum amount that can be claimed.
Technology in the solar power industry is constantly advancing and improvements will intensify in the future. Innovations in quantum physics and nanotechnology can potentially increase the effectiveness of solar panels and double, or even triple, the electrical input of the solar power systems. Solar energy can be used for diverse purposes. You can generate electricity or heat . Solar energy can be used to produce electricity in areas without access to the energy grid, to distil water in regions with limited clean water supplies and to power satellites in space.
The cost of installing solar panels is not to be overestimated, because even though prices are high the payback period is quite short due to the savings on electricity bills and the government aids. Advancements in technology and rises in the number of installations will likely bring down prices, due to economies of scale and lower cost of materials. As a matter of fact, prices have been falling continuously since the introduction of solar panels: in 1977, one kilowatt of solar energy would have cost you so much as $76.67. Today, that kilowatt costs $0.30.
Switching To Solar Energy Makes You More Energy Independent. By installing your own Solar Panels and Solar Batteries, you are able to have an off-grid system. This means you are no longer reliant on the National Grid for energy, and are instead self-sufficient.
Research indicates that solar panels add around 4.1% to a home’s value – which means you could make tens of thousands of pounds. That makes sense, too: who wouldn’t want to buy a home with better energy efficiency than the average property, that can save you money on your energy bills every month?
Simply put, solar power can keep the engine running. Charging an EV with solar is not only a cleaner solution, it also can be much more economical. With solar power, a home can produce its own energy instead of fully relying on the electrical grid. This can lead to serious savings when a monthly utility bill comes around.
Solar panels generally require very little maintenance in order to function, so you can usually just let them be. The only thing they need is a periodic light cleaning to make sure dirt, leaves, and other debris aren’t obstructing the sun’s rays. The only time you may need more extensive maintenance is during periods of heavy snowfall, as inches of snow can hinder solar panels performance.
Technology in the solar power industry is constantly advancing and improvements will intensify in the future. Innovations in quantum physics and nanotechnology can potentially increase the effectiveness of solar panels and double, or even triple, the electrical input of the solar power systems.
At Pro Solar Deals, we make it our mission to find the best suited and budget-conscious solar solutions for your home or business.
We’ve expanded our reach across the United States and partnered with hundreds of vetted and qualified solar specialists to help our customers find their perfect solution that meets their standard, and more importantly, their budget.
Use our 24/7 Instant Quote tool to discover how much solar will cost for your specific requirements and more importantly, how much you could save.
We'll find a solar specialist within your budget and state who can fit your panels to your specifications.
Our 24/7 Instant Quote tool will link directly with our solar specialists calendars. If you choose to get solar, you'll be in their diary.
