5 Reasons Solar Energy is More Popular Than Ever

Solar energy has been growing rapidly in popularity over the past few years, and there are many reasons why this energy source is capturing the attention of both consumers and investors. Solar energy simply makes sense—it’s renewable, clean, and cheaper than most other forms of electricity generation. Here are five main reasons why solar energy has become more popular than ever and will continue to be so in the future.

1) Climate change

It’s one of today’s most hotly debated topics, with scientists and politicians disagreeing about its causes and how it should be addressed. But if you ask anyone whose job depends on clean energy—like developers, investors, and engineers—the debate over climate change is irrelevant. The issue they care about most is whether solar energy can compete with fossil fuels.

2) Solar energy lowers your monthly utility bill

The biggest perk of solar energy is that it can lead to savings on your monthly utility bill. For example, if you have a solar power system installed in your home, you’ll no longer need to purchase electricity from your utility company. Instead, you’ll feed any extra electricity produced into your local grid, and receive credits for any excess energy sent back out to other members of your community.

3) Return on investment

When it comes to investing in solar energy, many people look at it as a great way to help keep more money in their pocket. Compared to other types of energy production, solar’s return on investment is high: even when you factor in initial costs and infrastructure, solar power still provides an estimated 50% return on investment. Meanwhile, other forms of renewable energy have been shown to provide anything from 6%-35% ROI.

4) Great tax incentives

Incentives for solar energy include tax credits and deductions, which can reduce your taxable income by 30% of system costs. The federal government also offers a tax credit worth 30% of installed costs up to $2,000 per kW of PV capacity and a maximum credit of $4,000. Further, some states offer additional incentives for solar installation. Check with your state’s financial incentive programs to see if you qualify.

5) Free government grants

There are a number of federal and state grants available for homeowners who want to install solar panels on their property. The website Green Power Government offers an overview of these programs, which include incentives through tax credits and government rebates. Even if you don’t own your home—or rent—you might still be eligible for some grants.