With more and more consumers wanting to reduce their carbon footprints, the use of home solar power has arisen as an extremely viable and eco-friendly option. The only reason it has not become more widespread is the cost, which for many people has simply been too high. However, the cost of manufacturing is slowly coming down, due to increased innovation, emergence of foreign manufacturers, tax rebates and incentives offered by state and federal governments.
As a result, the average solar manufacturer is able to produce and distribute units to consumers more inexpensively and thus offer cheaper prices. These are the three ways we can continue to make solar power affordable in the near future:
Technological innovation—In addition to advances in wind, natural gas, biodiesel and many renewable energy options, solar power production has been buoyed by several technological advances, including new advanced solar panels, 3D solar cells, viruses that improve solar cell efficiency, printable solar cells, and solar panels for power generating windows. Each year new advances are making solar power technology more accessible and more easily integrated into people’s homes and lives. As the technology continues to improve, it will become more and more of a standard home and business energy solution.
Subsidies—Government grants continue to make solar power systems tempting, as many of these grants trickle down into state systems and help to supplement the cost of solar panels. As a result, many homeowners are able to acquire considerable discounts on solar electric systems. These systems end up saving them money on home utilities in the long run, which is another attractive feature of solar power. Imagine if people were able to have their solar panels completely paid for by the government. We’re not too far off from that.
Tax incentives—With alternative energy companies creating millions of jobs for Americans, the federal government has put forth bold tax incentives for solar businesses that operate within the U.S. This allows these businesses to double down on their infrastructure and research efforts. Tax rebates are also offered to homeowners who invest in solar panels for their home energy solutions. The combination of tax rebates and grants lightens the financial load on both consumers and businesses.
Solar power is becoming more and more of a viable option for consumers and homeowners who want to reduce their carbon footprints. The combination of technological innovation, federal and state grants, and tax incentives are making solar power more affordable for everyone.