Solar energy is going mainstream: fifteen times every hour, a new homeowner installs a solar panel array on or next to their home. In the next year, that number is set to accelerate to three times every minute. Solar energy has dropped drastically in price in the last decade and solar panel cost is now one-fifth of what it was just seven years ago.
Not only are many states offering a property tax incentive for the installation of solar panels, there are also energy loan programs available across the country in some areas. Types of solar panels can vary, as can individual solar panel cost, but the idea of living in a self-sustaining energy generating building appeals to many homeowners’ desire for eco-friendly living that also can positively impact the value of a home.
Many homeowners indicate that their ROI (return on investment) after the installation of solar panels is a literal one: if the system generates more power than their homes can use, many local electric companies will purchase the energy from the homeowner and allow it to feed back into the larger electrical system.
Not only are they heating and cooling their home free of charge after the initial investment in solar panels is made, they are often receiving checks every month for the excess energy that they are able to contribute.
Solar power functions entirely without pollution. Different types of solar panels are made with slightly different materials: with or without crystalline silicon, and the newest multijunction devices utilize a layered internal structure that gathers the heat and converts it more efficiently to electricity. Expert installers will recommend varying types of solar panels based on a particular house’s budget and location.
With solar power cost dropping and with the technology involved growing by leaps and bounds, solar power systems for home and commercial use are beginning to develop a foothold in the multi-billion dollar energy field.