Solar power is the largest renewable energy source worldwide, and it is continually growing. Growth has proceeded at about 20% annually over the past 15 years, with the potential for much more over the coming decades. With 120,000 terawatts of solar power entering the earth daily, there is much energy to work with for commercial and residential energy resources.
Potential to Use Solar Energy in the Home
With the falling of product and service costs, residential solar panel installation has increased incredibly over the past 10 to 20 years. Solar companies are generating residential solar panels, and with the increased research and proof of the benefits solar energy the market has increased. With the update to solar technologies, photovoltaics and much more, there is the possibility to bring all homes to use solar energy in the next few decades. Many states have planned the increase of solar energy to 50% or more by at least 2030.
Return of Investment for Installation of Solar Panels
One benefit of installing solar panels, either commercial or residential, is the cost-savings that return within a matter of months. Usually, as quickly as 12 months, or one year, there are savings seen from the installation of solar power for any home or business. While there is always a cut to the utility bills, there is also the benefit of incentives that are offered by most states, either easy financing of the power system or the tax rebates that are offered in many areas.
Existing Solar Panels for Homes
With over a million homes in the United States already using solar panels for energy, there is much to consider with the benefit this has on the power grid. Some of the numbers of existing homes with solar panels installed include:
- Solar installation has been completed for about 1.3 million American homes
- 40 gigawatts of solar power capacity is generated from these homes
- With one megawatt providing enough power for over 150 homes, making these 40 gigawatts powerful enough for about 6.5 million homes
With the benefit of sustainability to the earth and everyone’s lives, there is much to consider in the ability of solar energy to reduce the emission of greenhouse gases such as carbon dioxide into the atmosphere. Though many politicians and others battle the effect of solar power on the power grid, as well as those who don’t use solar energy, there is much to be said for the amount of additional power that is generated, the fact that it can be stored, and eventually combined for the benefit of an overall renewable energy source for all communities.