The world is power-hungry and energy demands are steadily rising. According to a solar panel news report from this month, the U.S. Energy Information Administration (EIA) projects that the world will require 50% more electricity by 2050 and that renewables will account for most new power consumption globally.
The main factors driving solar power as a preferred energy source are climate change based regulations, incentives, and falling costs in solar installations.
Are you on the fence about making the leap to residential or business solar power for your energy needs? Going solar is a big step but one that may very well be the wisest decision you can make.
In this post, we will cover the latest in solar panel news. Follow along as we explore the exciting developments in the industry that are leading millions of people to energy independence.
Solar Panel News for October 2021
Solar energy is continually increasing in popularity. Encouraging the use of renewable energy is also high on the agenda for governments seeking to meet their targets with regard to the fight against climate change.
With this in mind, there are constant changes occurring in the solar industry, many of which have a knock-on effect on consumers. Let’s take a look at what’s been happening this month in solar news.
Solar Installations On 50% of Rooftops Are Needed to Power the World
A recent paper published on Nature Communications predicts that 100% of the world’s annual power needs could be met if 50% of the world’s rooftops had solar PV installations.
Further to this, three hot spots for solar production were highlighted; North America, Europe, and Asia.
The report goes on to find that solar power has the potential to help reduce energy poverty by putting the means of production into the hands of homeowners throughout the world.
Illinois Clean Energy Bill Means Massive Savings On Solar
The end of last month saw Illionois’ massive Clean Energy Bill being signed into law. The bill seeks to have a million electric cars on the road, and an end to the use of fossil fuels in energy production by the year 2050.
The bill ushers in a raft of savings for green consumers with savings on electric cars and solar panels, as well as reduction in energy bills for those taking advantage of the community solar plan. It’s estimated that homeowners opting to get solar panels installed will save between $8,000 and $9,000.
These savings will be in addition to the already existing federal tax credit scheme which currently sits at 26% of the cost of your installation.
It may still take several years for your solar electricity to completely repay the initial cost, but given that a solar panel system is designed to last for 25 years, looking at the long-term, you’ll enjoy free energy for many years to come.
IRENA Publishes Annual Renewable Energy and Jobs Review for 2020
The International Renewable Energy Agency (IRENA) has recently published the annual renewable energy and jobs report. The report estimates that there were 12 million people employed worldwide in the renewable energy industry, of which 4 million worked specifically within the solar PV market.
Although global sales of PV solar installations suffered due to the global COVID19 pandemic, layoffs in the sector were minimal. The report also notes that 2020 saw unparalleled growth in PV installations in the United States, despite the pandemic.
The report predicts that by 2050, there will be a total of 122 million renewable energy jobs globally.
Are Solar Panels Worth It?
For many people, getting home solar panels installed is a matter of environmental importance. The main benefit of having solar panels is that your household’s carbon footprint will be greatly reduced.
The average U.S home has a carbon footprint of 48 metric tonnes per year. By generating your own renewable source of energy, you’ll put a serious dent in the carbon emissions that your household is responsible for
But, of course, for the majority of households, getting solar panels installed represents a major financial commitment.
If you’re currently on the fence about switching to solar, you may be wondering are solar panels worth it? To decide whether solar is right for you, we’ll explore how much the average installation costs, the various types of solar panels that are available, and how much you’d be able to save through solar rebates and incentives.
How Much Are Solar Panels Today?
The national average price for a 5 kW residential system is between $15,000- $25,000. This figure is before any deductions such as the federal tax credit or any other rebate you may be entitled to in your state.
For any solar installation fitted before 2023, you’ll be entitled to a 26% rebate from the federal tax credit scheme. From 2023, this figure will drop to a 22% rebate.
In addition to this, many states operate their own initiatives and you may also be entitled to a rebate through your energy supplier. You may also be interested to learn about any net metering schemes that operate in your state too. This is where you sell any excess energy that you produce to your energy provider in exchange for credits.
The specific cost of solar panels for your home will be dependant on several factors, most notably, how much energy you currently consume. The amount of electricity you use will determine the size of installation that you’ll need.
Of course, energy consumption varies from household to household, the best place to start will be to look at your previous energy bills. You’ll also need to know how much sunlight you get in your area.
Other factors to consider include the size of the solar panels and the efficiency of the panels you opt for.
The best way to get a true understanding of the potential cost of solar panels for your home is to schedule a consultation where a proper estimate can be put together.
More Variety: Types of Solar Panels
With installing the means to generate your own electricity being a major long-term investment, you’ll need to be sure that you’re getting the best solar panels available. But what types of solar panels are there?
Most PV solar panels are made using polycrystalline silicon or monocrystalline silicon, with monocrystalline silicon being the most popular and the most efficient option. This is the same material that silicon computer chips are made out of.
The issue with monocrystalline silicon is that it’s not cheap. That said, the prices of solar panels have dramatically decreased in recent years.
With both polycrystalline and monocrystalline silicon, you have the option to purchase a Passivated Emitter Rear Cell (PERC) which is an additional layer of silicon that stops electrons from getting trapped, making your solar panels more efficient.
Whichever solar panel material you choose, you’ll still be helping the environment and saving money in the process.
Maintaining a Solar System
With solar panels being a serious commitment, you may be wondering how much work is involved in the upkeep of your solar installation. Thankfully, keeping your solar panels in great working order doesn’t require too much effort.
Because solar panels work best when they’re in direct sunlight, you’ll want to make sure that any trees that surround your home don’t start to overshadow your panels.
You will need to make sure your solar panels are kept nice and clean. Debris and dirt could affect their efficiency. With this in mind, cleaning your panels often is essential.
You may find cleaning companies in your area that offer solar panel services, or you might want to have a cleaning system installed to make the job easier.
If you choose to undertake the cleaning yourself, use a long-handled wiper along with biodegradable soap to clean the panels from ground level to ensure you don’t injure yourself or damage your panels.
Because solar panels have no moving parts, you won’t have to worry about anything rusting or seizing up. This means that there’s no need to worry about having your solar panels serviced or maintained.
Join the Renewable Energy Revolution Today
There truly has never been a better time to switch to solar. With new incentives launching all the time, and a shift in the global commitment to using renewable energy sources such as solar, is it time you made the switch?
If you’re ready to enjoy energy independence while helping save the planet, fill in this form and we’ll be in touch to help you on your solar journey.
With exciting solar panel news updates happening every day, check back next month to see what’s happening in the ever-evolving world of PV technology.