Wednesday, February 23, 2011

Home Solar Today and the Future of Prospective Solar Users


Two year ago President Barak Obama said in a press statement:  “We have a choice. We can remain the world’s leading importer of oil or we can become the world’s leading exporter of clean energy . . . the nation that leads the world in creating new sources of clean energy will be the nation that leads 21st century global economy. That’s the nation I want America to be.” The president expressed clearly and emphatically his unqualified support  for pursuing clean energy.

How did the nation react to the call? Past events showed that the resources of the government both local and federal were mobilized. Industry movers and educational institutions also cooperated in undertaking different programs. As citizens, we can do no less. We should support the move to go solar.

The private sector intensified research which resulted in innovations in the field of solar conversion efficiency and reduction of production cost. How did this affect the beginners or prospective solar users? What’s in store for them?The gains of home solar today are so significant that beginners can not loss if they adopt the technology now.

These are some of the most recent advances and forecast beginners can think about: 

Conversion efficiency continues to improve and cost to fall. First Solar CdTe thin film has brought manufacturing cost below $1.00/watt. Sun Power has achieved a record 24% commercial efficiency.

At present, 95% of Home solar is connected to the utility companies. By 2014 it will be 97 to 99%.

The Financial Times reports that solar energy is on the path to grow amazingly fast with business amounting to $ 20 billion in 2009 to $ 90 billion in 2010.

Solar energy continues to be a secured investment. Many homeowners see return of investment (ROI) of 10 to 20%. The ROI for stock market is 9.3% and government bonds less than 5% annually for the past 100 years. It makes financial sense in putting your money in solar energy.

Renewable sources of energy are fast replacing the ones in current use and solar energy is identified to be the cleanest and most abundant renewable energy source available.

The price of solar panels has fallen by approximately 50% compared to peak price in 2008.

Bloomberg New Energy Finance expects residential-scale solar to be installed in 2.4% of the houses in the US by 2020.

Solar energy financing like Power Purchase Agreement, Power Lease and others are now in place.

Decrease in solar panel prices combined with renewable tax credits and other incentives will continue to drive solar energy growth in the US.

  Solar energy is more secure as the technology moves faster and closer to consumption in homes, commercial and industrial sectors.The prospects for solar energy beginners remain bright and promising. All cards are in their favor if they build solar energy at home. It is wise for them to install now, enjoy the benefits and save the environment.


We invite you to visit our Informational Solar Article page  for more practical tips, simplified application guide and established solar benefits.


Author’s Box
Jacinto Demonteverde, Jr., the owner, is a strong advocate of solar power adoption. URL: justsolarhome.blogspot.com. He writes practical articles to keep established and prospective solar users well informed. You are welcome to republish or reprint this article free of charge provided the content remains unchanged including the Author’s Box. No permission is needed.


5 comments:

  1. I know solar is very interesting topic to learn.Its very nice.As of now, solar power and solar related devices are expensive. But it may be reduced if most of the people start using it. Let us see the future of solar power.

    ReplyDelete
  2. Thanks for the comment. You're right that the price will be significantly reduced if more people will start using it. This will mean a bigger market and competition on who gets the lion share will be the target of solar manufacturing companies. Intensive research and development will follow and naturally reduction of price in the end.

    ReplyDelete
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