Investing in solar energy is today a wise thing to do, considering the soaring fossil fuel prices and its shrinking supply. There has been a shift towards alternate sources of energy. Now the world is looking towards renewable sources of energy to compensate for its fuel demand.
The advancement in the technologies in renewable energy sources have also led to this shift. These technological advancements have made the alternate sources cheaper. In 1980 the cost of harvesting energy from the sun stood at about $100 per watt, which was almost a hundred times more expensive than the going rate of electricity. By 1999 however, technology reduced this to about $4 per watt and costs have continued to decline by about 5% per year since.
The rising ROI has made solar energy a wise option for many. Electricity generation is one of the key advantages of solar energy. An efficiently solar powered home will be able to reasonably create between 75 and 100% of their own power and because of the grid tie system this means you may not have to pay for electricity ever again.
The advancement in the technologies in renewable energy sources have also led to this shift. These technological advancements have made the alternate sources cheaper. In 1980 the cost of harvesting energy from the sun stood at about $100 per watt, which was almost a hundred times more expensive than the going rate of electricity. By 1999 however, technology reduced this to about $4 per watt and costs have continued to decline by about 5% per year since.
The rising ROI has made solar energy a wise option for many. Electricity generation is one of the key advantages of solar energy. An efficiently solar powered home will be able to reasonably create between 75 and 100% of their own power and because of the grid tie system this means you may not have to pay for electricity ever again.
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