Solar Energy Boom Expected
Flash back to ten years ago. Driving through any given neighborhood it would be uncommon to see a residential or commercial building with solar panels. Today, that’s not the case. Solar energy is becoming increasingly popular, so you’re seeing more and more buildings with solar panels. And guess what? We predict that number is going to rise. Be on the look out for a solar energy boom over next few years, for many reasons.
1. It’s efficient. One thing has undoubtedly made solar energy efficient: an improvement that has been made in cell efficiency. The percentage of light turned into electricity by a photovoltaic cell (a cell that converts solar energy into electrical energy) has increased. It went from 8 percent in the first Cadmium-Telluride cells in the mid-1970s up to 44 percent in the most efficient cells today, 2013 (The Week). What does this mean? Some new cell designs have more than 50 percent efficiency, which as a result, extends your dollar farther (The Week).
2. It’s cost-effective. With solar tax incentives, solar electricity can often pay for itself in five to ten years (National Geographic). Plus, a study by Bloomberg London shows that the operation of solar cells is cheaper than the operation of diesel cells.
3. States are utilizing it in abundance. Gov. John Corzine’s administration kicked off the requirement that by 2021, New Jersey’s power providers get 23 percent of their electricity from renewable sources (Business Insider). Massachusetts had a goal of obtaining 250 megawatts of power – enough to power multiple mid-sized cities. The goal has already been reached, according to Business Insider.
4. Solar power helps consumers. In addition to solar panels saving money in the long run, it helps the environment by giving them a healthier place to live.
Ready to hop on the solar energy bandwagon? Contact us.