6 Facts Your Power Company Doesn’t Want You To Know
Many people are still afraid to go solar because of the misconception that it is highly expensive to do so. The truth is, the cost of going solar is decreasing so rapidly that it is now cheaper than coal. Your power company knows this—as well as the fact that many could be eligible to get huge discounts on electricity for the next 20 to 25 years. Of course, they will not tell you these things. They won’t make profit from a solar-powered home.
Below are other facts your power company doesn’t want you to know:
Fact 1: The demand for solar power is booming.
Utility companies will tell you that solar is just a passing trend. But the numbers will tell you otherwise. Solar energy is currently a 50-state market. The U.S. is now home to 1.3 million solar installations and is expected to increase in the coming years.
The solar industry now creates more employment than coal, oil and gas combined, wherein over 370,000 workers were employed in 2016. This generated over $154 billion for direct sales, salaries, wages, benefits, taxes and fees. Revenues soared to $210 million by 2017. The solar sector is far from failing - it is here to stay.
Fact 2: It is more expensive to NOT switch to solar.
Throughout the past decade, energy prices have risen at an average rate of 3% each year. Let’s say your monthly electric bill is around $200, and there is a yearly increase of 4.5%. In 10 years, you will have spent $35,667 with no return on your dollars.
If you switch to solar, you will be given many opportunities for a high ROI. Zero-down financial options will let you save around 20-30% on your electricity bill, and if you purchase the solar system outright you’ll save even more. SREC markets can provide sizable income to system owners, and not to mention tax programs and rebates that increase savings significantly.
Fact 3: The average 2 person home emits approx. 20 metric tons of carbon pollution.
Utility companies source electricity from coal-fired power plants. Combustion of fossil fuels spew 1.9 billion tons of carbon dioxide and other harmful gases into the atmosphere each year. If you continue to use electricity from the grid, you become a contributor to the high CO2 concentrations in the air.
The U.S. Environmental Protection Agency reveals that the average two-person household emits approximately 20 metric tons of carbon pollution annually. Switching to solar can reduce this amount to 3-4 tons. Thus, apart from saving money with solar, you can also save the earth.
Fact 4: Solar power works even in bad weather.
Solar panels do not need direct sunlight to generate electricity. They rely on daylight which is why they can function even in a rainy, cloudy or foggy weather. Clouds won’t stop the ultraviolet rays from getting absorbed by your solar panels.
Germany is proof that solar systems work in a cloudy climate. They only get as much sunlight as the state of Alaska but produce 20-30% of all its energy daily. New Jersey is another best example, ranking 3rd in solar energy production even though it doesn’t receive as much sun as California or Arizona.
Fact 5: HOAs have no power over solar in most states.
If you are living in a condo or planned development, chances are there’s an HOA overseeing home improvement projects. Thankfully, we now have solar access laws and solar easements that protect an individual’s rights to go solar. In about 24 states, HOAs are barred from restricting solar installations.
Under solar access laws, HOA contracts that are seeking to prohibit solar PV systems on properties are overridden. Solar easements on the other hand allow homeowners to ensure their system gets enough sunlight. One example is requiring neighbors to trim their trees so it wouldn’t obstruct your solar panels.
Fact 6: Solar technology updates won’t render your current system useless.
Solar panels are not like smart phones that become obsolete six months after you brought them home, just because a newer gadget was released. While it is true that the solar industry is fast expanding with improvements in design and efficiency, the goal is leaning more towards making it available to the average consumer.
What difference does it make if, five years from now, your neighbor installs newer ‘frameless’ solar panels or ‘clear’ panel types? It won’t change the fact that you were already creating your own clean power for five years and will continue to generate more throughout your system’s lifespan.
It’s time we protect ourselves from the rising costs of conventional energy sources. With solar energy, you not only enjoy financial rewards but also tap into a clean and renewable power source.