Does Solar Mean Free Electricity?
By: Eric Huesca, SEO Content Writer
March 7, 2023
Electricity bills can be a pain, especially when they add up to a hefty amount at the end of each month. Electricity in the United States has risen for the past few years. Thus it’s leaving many households struggling to keep up with their bills. In 2008, the average American household spent 9.74¢ per kilowatt hour of electricity. However, by 2018, the cost had risen to 12.57¢ per kilowatt hour, reflecting a 29% increase from ten years prior. As a result, households are dealing with higher electricity bills, which can be a financial burden, particularly for those on a tight budget.
Solar blog with wireless charging with a guy about to put his phone on it.
On average, an American household spends around $115 per month on electricity alone. However, paying these costs can be overwhelming for families on a budget, leading them to seek alternative solutions. That’s where solar energy comes into play.
Solar energy has been a hot topic for years, and for a good reason. It is an excellent renewable energy source that can help households reduce their reliance on traditional electricity sources and lower their energy bills. With solar panels, households can harness the sun’s power and generate electricity, meaning they can say goodbye to those high electricity bills.
The importance of solar energy cannot be overstated. It provides a way to reduce household expenses and plays a vital role in reducing carbon footprint and preserving the environment for future generations. Moreover, the benefits of solar energy are numerous and undeniable.
So, if you want to learn more about how solar energy can provide free electricity while being the most eco-friendly source of electricity, continue reading. We will give you some interesting and factual details explaining why solar means free electricity that will make you want to switch to solar energy today.
Sunlight Is Free:
We are technology-dependent day by day. Thus we are increasing our electricity consumption. Therefore, finding alternative energy sources is necessary. The most common source of electricity is fossil fuel, which is finite and expensive to extract. As a result, the cost of electricity generated from fossil fuels has been increasing, making it difficult for homeowners to keep up with their energy bills.
On the other hand, solar energy has the potential to provide free electricity. But does solar mean free electricity? Let’s examine this claim further.
To understand the cost-effectiveness of solar energy, we need to compare it with traditional fossil fuel-based power plants. Fossil fuel-based power plants generate electricity by burning coal, oil, or natural gas. However, the cost of fossil fuels is expensive and finite. It means that their prices fluctuate based on supply and demand. In addition, Using fossil fuels also contributes to climate change and global warming by releasing dangerous pollutants and greenhouse gases into the sky. Thus it’s a curse for planet earth.
In contrast, solar panels generate electricity from sunlight, which is abundant and free. Once the solar panels are installed, homeowners can generate electricity for free without any fuel. Although the initial installation cost of solar panels may be expensive, it is a one-time cost that pays off in the long run. Furthermore, solar energy is a clean energy source that does not emit harmful pollutants or greenhouse gases, making it an environmentally friendly option.
Besides, the sun is an incredible source of energy that provides an abundance of sunlight every day. This energy source is renewable and will never run out. According to NASA, the amount of sunlight that reaches the earth’s surface every hour is more than enough to meet the world’s energy demands for an entire year.
According to the U.S. Energy Information Administration, the average cost of electricity in the United States is around $0.13 per kilowatt-hour (kWh) for residential customers. In comparison, the cost of solar energy has decreased significantly over the years. Hence, you will be getting the average cost of solar panels falling by 70% in the past decade. As a result, the cost of electricity generated from solar energy is also decreasing, making it a more affordable option for homeowners.
Moreover, the efficiency of solar panels has also improved over the years. Modern solar panels can convert up to 22% of sunlight into electricity, making them more efficient. In contrast, the conversion efficiency of traditional fossil fuel-based power plants is much lower, with some plants having an efficiency rate of as low as 33%.
Solar energy is a clean and renewable energy source that is becoming increasingly cost-effective, making it a viable option for homeowners looking to reduce their energy bills and carbon footprint. With technological advancements, solar energy will only become more efficient and affordable.
Long Life Span:
Apart from being an environmentally friendly and cost-effective energy source, solar panels also have a long lifespan, ensuring free electricity for homeowners. The lifespan of solar panels depends on the quality of the panels and the conditions under which they operate. Generally, most solar panels have a lifespan of around 25-30 years, with some panels lasting up to 40 years or more. In comparison, the lifespan of traditional fossil fuel-based power plants is much shorter, with some plants having an average lifespan of around 20 years.
The initial cost of solar panels can deter homeowners looking to install solar panels. However, the long lifespan of solar panels means that homeowners can recoup their investment over time, making solar panels a financially sound investment. According to an analytical report by the National Renewable Energy Laboratory, a 5 kW solar panel system can provide savings of over $50,000 over its lifetime, significantly higher than the initial installation cost.
However, the size of the solar installation and other elements like shading affect the amount of electricity produced by home solar systems, which normally range between 5 and 10 kilowatts. A 5 kW solar panel installation will typically generate 8,000-kilowatt hours annually. The annual energy needs of many households can be met with this clean, renewable energy.
Furthermore, even after the lifespan of solar panels has passed, they can still be usable with reduced efficiency. Solar panels have a degradation rate, meaning their efficiency reduces over time. However, even after 25-30 years, most solar panels can still generate electricity at a rate of 80% or more of their original efficiency. It means that even after their lifespan has passed, solar panels can still provide homeowners with a significant amount of free electricity.
Solar panels can also be recycled at the end of their lifespan. The raw materials used in solar panels, such as silicon, aluminum, and glass, can be recycled and reused to produce new solar panels. It means that solar panels have a low environmental impact and are sustainable in the long run.
The lifespan of solar panels also depends on the conditions under which they operate. Solar panels are designed to bear harsh weather conditions like high winds, snow, and hail. However, the efficiency of solar panels can be affected by factors such as shading, dust, and debris. Therefore, it is important for homeowners to regularly maintain their solar panels and keep them clean to ensure maximum efficiency and longevity.
Hence, solar panels can promise free electricity for up to 30 years. Besides, 30 years lifespan doesn’t mean your solar panels will be useless. It means their efficiency will be reduced by 20%. So you can either upgrade, replace, or recycle them. So, if this doesn’t appeal to you to switch to solar energy, the next section will.
Renewable Energy Incentives:
Solar panels can provide homeowners with free electricity for up to 30 years, and they can also pay homeowners back through renewable energy incentives. Governments offer renewable energy incentives to promote using renewable energy sources, such as solar power. These incentives can cause a significant reduction in the initial expense of installing solar panels and provide ongoing financial benefits to homeowners.
In the United States, several renewable energy incentives are available to homeowners. A tax credit known as the Federal Investment Tax Credit (ITC) enables homeowners to claim a deduction from their federal taxes for 26% of the expense of installing solar panels. This credit can be applied to residential and commercial properties and has been extended until 2024. For example, if a homeowner spends $20,000 on a solar panel system, they can receive a tax credit of $5,200.
In addition to the ITC, many states and local governments offer renewable energy incentives. For instance, California offers a rebate program called the California Solar Initiative, which provides cash rebates to homeowners installing solar panels. In New York, a tax credit called the NY-Sun Incentive Program provides a credit of up to $5,000 for homeowners who install solar panels.
Renewable energy incentives can significantly reduce the initial cost of installing solar panels and provide ongoing financial benefits to homeowners. According to the United States Department of Energy, homeowners with solar panels can save an average of $600 to $1,200 per year on their electricity bills. Over 20 years, this can add up to significant savings.
Furthermore, solar panels can also increase the home’s market value. Houses with solar panels sell for an average of $15,000 more than homes without solar panels, according to a study conducted by the Lawrence Berkeley National Laboratory. It means that homeowners who install solar panels not only receive free electricity and financial incentives but also increase the value of their homes.
It is also essential to note that renewable energy incentives are subject to change. For instance, the ITC will decrease from 26% to 22% in 2023 and expire for residential properties in 2024. Therefore, homeowners interested in installing solar panels should take advantage of these incentives while they are available.
Besides, Solar panels not only provide clean energy, but they also require very little maintenance. It means that once your solar panels are installed, you can enjoy the benefits of free electricity without worrying about ongoing maintenance costs.
Investing in a 5 kW solar panel system can significantly reduce your daily electricity costs and, in some cases, even eliminate them. With the right solar panel system, you can generate enough energy to power your home, and any excess energy can be stored in a battery or sent back to the grid for credit.
Final Words:
Switching to solar power is a wise investment for homeowners willing to reduce their reliance on traditional energy sources while saving money on their monthly utility bills. By generating electricity, you reduce your carbon footprint, help protect the environment, and gain the freedom and independence to power your home with clean, renewable energy.
Imagine a future where you no longer have to worry about rising electricity costs or power outages and, instead, have access to a reliable and affordable source of electricity that’s entirely under your control. That’s the kind of future that going solar can provide.
So, if you’re ready to take control of your energy costs and invest in a brighter, cleaner future for yourself and your family, now is the time to go solar. With Solgen Power’s innovative solar and battery solutions, you can start generating your free electricity today and enjoy the peace of mind that comes with knowing you’re doing your part to protect the planet for future generations.
Share this Blog:
Recent Blogs
- What is Solar Energy?
- 5 Benefits Of Going Solar
- How Can Solar Save You Money?
- Guide to Green Energy Tax Credits and Incentives for Homeowners
- 7 Budget-friendly Sustainable Upgrades for Your Home
- Why is Alternative Energy Important
- Why Solgen Power is the best choice for residential solar?
- How Do Solar Panels Work?
Links
Solgen Power is a solar energy contractor that sells and installs solar for homeowners. Solgen Power has been recognized by INC. 5000 as one of the fastest growing companies in the nation. Solgen Power has grown nationwide and continues to provide excellent customer service to homeowners.
