Slowly but surely, solar energy is becoming more popular across the country. As technology continues to improve, the cost of solar power systems continues to decrease, making photovoltaic panels feasible for homes and businesses alike.
According to the Solar Energy Industries Association, solar electricity generation was 10 times higher than it was in 2008. This is partially due to the dramatic decrease in the cost of installing and operating photovoltaic panels. In 1998, solar energy cost around $12 per watt, but by 2012, that cost dropped to $5.30, and continues to decrease each year.
For homeowners and business owners, electricity can often represent their single highest monthly expense. As solar systems continue to become more economical, solar companies are responding by providing flexible payment options, helping to encourage greater adoption of PV systems. Not only can solar panels be financed, but they can also be leased, or purchased on a rent-to-own style plan, which significantly reduces the up-front costs associated with switching to solar energy. In most US markets, customers can generate or purchase solar energy at or well below current retail market electricity rates, resulting in immediate cost savings.
The Solar Industry and US Jobs
Solar electricity can save money, and as more customers make the solar switch, it also has a positive effect on jobs and the greater US economy.
According to Sustainable Business, the PV industry is able to create more jobs per megawatt of capacity than any other US energy technology. They cite a study entitled, “The Job Creation Potential of Solar and Conservation: A Critical Evaluation,” which came to the conclusion that the PV industry creates 55-80 times as many jobs as the natural gas industry, and that solar heating typically creates anywhere from two to eight times more direct jobs than conventional power plants. Those jobs typically shake out to 20 manufacturing positions and 13 installer and/or maintenance positions per single installed megawatt. They estimate that if just ten percent of mid-Atlantic homeowners used even a little solar power in their homes, it would generate over 25,000 jobs.
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