The economics of solar energy are far reaching and impactful in a multitude of areas. Individually, solar can have significant financial implications which expand into parent economies affecting them all the way up to the global level.
“It is a contributing factor in grid stabilization which minimizes stress on already delicate electrical infrastructure…”
Solar energy has grown to be the fastest growing sector of energy generation. It is one of the largest contributors to new jobs both in the United States and around the world. It is a contributing factor in grid stabilization which minimizes stress on already delicate electrical infrastructure protecting consumers from even more significant rate increases which many could argue have nearly been running away.
On an individual level solar energy is offering a very real alternative to traditional power sources. It represents an option which gives the owner of such systems independence from the utility company, in effect, protecting them from a long history of frequent and sizeable rate increases that over the course of years can save an individual into the tens of thousands of dollars.
“Depending on your area, incentives and benefits could be worth up to 50% of the cost of your typical solar system.”
Governments from local all the way up to Federal levels understand both the economic and environmental necessities of adopting renewable energy including solar. In a strategy to encourage this transition, they have offered sizeable incentives that greatly offset the cost of these systems. Depending on your area, incentives and benefits could be worth up to 50% of the cost of your typical solar system.
This rapidly growing sector of the above mentioned economies has certainly caught the attention of the banking industry. Banks like governments have focused on creating products that encourage this adoption by releasing loans that allow people to simply go solar with no money out of pocket with monthly payments in many instances less than ones utility bill.
In addition to incentives offered by governments and banks as well as the larger economic benefits of renewable energy such as job creation, manufacturing, etc., solar energy is proving to be a driving factor in real estate appreciation. Some of the most respected educational institutions there are have done extensive research on this topic which has shown solar energy not only makes homes worth considerably more money but positively impacts marketability.
“Renewable energy has proven it’s value and importance on many levels.”
Renewable energy has proven it’s value and importance on many levels. Through the significant incentives governments have made available, it is clear this is a transition is being encouraged on a very high level. This is confirmed through the support and offering of the banking system allowing people to simply make the transition with costs perhaps even lower than the cost of current utilities. The above combined with the protection from rate increases and measurable real estate appreciation makes solar energy an industry as well as transition with significant economic implications.
We encourage your continued exploration of this very important and potentially beneficial topic. We have created a library of resources as a solid spring board for you to launch into your research and if you have questions, we of course welcome your contact.