Top 5 Facts About Solar Energy for Homeowners

By Sunnova

Curious homeowners seeking ways to reduce their energy bills should spend time educating themselves on the exciting and cost-effective ways solar power can help. Although solar power might seem a bit confusing at first, the fact is that it's relatively simple to enjoy the benefits of this clean, renewable energy source. Just consider these five facts about solar energy:

1. The price of solar continues to drop

You might be under the impression that installing photovoltaic (PV) panels or using solar power is expensive. However, taking advantage of solar power has never been more affordable. In 1975, when solar power first started to become more mainstream, the price of solar was roughly 227 times more expensive than what it is today, Clean Technica reported. In fact, the price of a solar panel has dropped about 70% and is roughly 30% of what it was in 2010. And, because of the many solar plan options now available, you have the option to forego a hefty initial down payment making solar more affordable than ever before.

2. It saves big on a utility bill

While the cost of traditional sources of electricity continue to fluctuate, solar power allows you to cut your utility bill, and the sooner you start the installation process, the quicker you start saving money. While the amount of actual savings depends on a number of factors, from how much sunlight your home receives per year to the available rebates and incentives available in your state, in general over the course of a usual 25-year warranty period, you could potentially save between $10,000 and $70,000, according to UnderstandSolar. 

3. You don't need the most efficient panels

A common refrain from homeowners that are reluctant to use solar power is that they're waiting on better efficiency levels before making the purchase. However, residential solar cells - the thin slivers of silicone used to convert sunlight into energy - are about as efficient as they're going to get for the foreseeable future. As noted by SRoeCo, an independent solar information website, the most efficient panels aren't necessary for homeowners to realize savings and don’t really need to worry about this.

4. It's immensely popular

While solar power is contagious, it's not just a trendy fad destined to go the way of MySpace or flip phones. Solar power is going to be around for a while because it just makes sense to cut utility bills and help you conserve your overall energy usage. In fact, according to a 2015 national survey conducted by Gallup, 79% of respondents wanted the country to put even more of an emphasis on solar power as an energy source, beating out other energy sources such as wind, natural gas and oil. With so many Americans backing solar power, it will only continue to grow in popularity more people realize its benefits.

5. It helps to conserve energy

One of the main facts about solar power is that people are using this energy source to save money. However, simply installing a PV module is only one step in the process. Along with the solar panel installation, it's important to go through and make sure you're trimming energy usage and managing electricity consumption throughout your entire residence, even after your solar panels are working to ensure even greater savings.

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