From the altruistic to the pragmatic, there are many reasons why consumers and businesses are choosing renewable energy over fossil fuels to power their activities. We already know that renewable energy from wind or the sun do not contribute to emissions and air pollution. Although a 2019 study found that only 69 percent of Americans believe in global warming, just about everybody understands air pollution and is aware of it as a potential health hazard.
But, no matter what our beliefs and ideals may be, practicality still wins the day. In that sense, people are asking about the cost of solar energy, how long it will take to pay for itself if they install it, and what their ultimate savings may be.
Of course, the answers vary depending on a range of circumstances, but the advent of the solar panel cost calculator, a self-service way of doing a DIY cost-benefit analysis, makes the task easy.
Solar Companies Pitch Cost Savings as a Primary Benefit
Solar installation companies are pitching cost savings as a primary benefit of their business. They know their market, and since the figures are favorable, they make use of them.
After all, consumers and businesses will invariably prioritize bread-and-butter issues. While reducing carbon footprints and having cleaner air may sound nice, a healthy bank balance will take precedence.
Few of us can afford the luxury of forgoing today’s money for tomorrow’s environmental benefit. In short, if it’s good for the environment, the average person will say “that’s nice.”
If it helps with day-to-day survival and prosperity, the majority of people are more likely to see a change to clean energy as being necessary.
For businesses switching to solar energy, using the environmental angle in their marketing is an irresistible extra. But unless commercial concerns are particularly large and prosperous, the economic benefits of solar energy will have more weight than the opportunity of marketing themselves as a “green business.”
Homes Could Generate Up to 34 Percent of the Nation’s Energy
From the domestic energy user’s perspective, there are advantages to a grid-tied system. At times when they generate more energy than they use, they are able to “sell” energy back to the grid. At times when their demand is high, they have the advantage of reliable grid-based electricity. The net result is a direct saving on household energy costs.
It should be remembered that domestic electricity consumption only accounts for about 6.8 percent of the U.S. energy demand. Commercial concerns add a further 4.7 percent slice to the pie, while industry accounts for approximately 22.7 percent of electricity consumption.
However, if every home in the U.S. installed solar energy, this small-time energy consumer group could contribute up to 34 percent of the country’s energy.
As things stand, most people will realize cost savings from solar energy but still have utility bills to pay. Could the wave of the future mean that utility companies ultimately pay consumers real cash for their solar energy?
It’s not inconceivable although other hurdles such as energy storage and improved solar panel efficiency must still be overcome. However, for the time being, the conclusion that cost savings are among the primary drivers for the continued growth of solar energy in the USA is a fair one to draw.
