Growth of Solar Energy into the 21st Century
Before the new millennium, solar power was mainly for industrial use only. In fact, installing a solar power system for your home was practically unheard of just a few years back. Back in the day, it was cheaper to use other (and non-renewable) sources of energy such as natural gas to power the home, and so people never considered installing solar.
But in the last ten to fifteen years, the number of solar installations has increased exponentially, as shown in the graph. Solar power is the next big thing. Solar technology is improving at a remarkable rate, and the cost of owning a system has decreased dramatically. Back in 1975, the price of a solar panel was $101.50 per watt, and now it is only $0.74 per watt. That’s a 99.3% markdown! Furthermore, at a time when the threat of global warming is increasingly prominent, there are more government incentives than ever right now, including Federal Income Tax Credits and MACRS Tax Depreciation Credits.
And while solar panel prices are decreasing rapidly, electric utility rates are constantly increasing. In other words, it is becoming more and more expensive to not go solar. Don’t believe us? Just check your Edison bill! Each year’s bill is higher than the last. And it’s not just higher by a marginal amount. Edison raises their prices 3.5% per year! That’s huge if you acknowledge the power of compounding. For example, if your monthly energy bill was $200 in 1995, it will be $400 now, and that’s only if your energy usage stays the same. In the whole year of 1995 you would have paid $2400 for energy, and now you are paying $4,800.
There is no reason to even consider not going solar. Solar prices are at an all-time low, electricity rates are at an all-time high, and generous government incentives exist. And the best part is, going solar is easier than ever. All you have to do is provide us with a copy of your energy bill, and Aikyum Solar will take care of the rest. Get a free quote today or contact Aikyum Solar at [email protected] or at 1-(888)-9898-SUN (768).
