Did you know that solar energy makes up almost 10 percent of electricity generated globally? The industry has grown exponentially in the past decade, and it is only going to accelerate with the advent of new technology.
Have you ever wondered how the future of solar will affect how much systems cost and energy replacement plans? Here is a brief guide for advancements in solar and solar energy improvements in the foreseeable future.
Lower Installation Costs
As materials become cheaper, it will cost less to install solar panels as a source of sustainable energy for your home. This will make it much easier for average homeowners and business owners to use solar as an alternative to conventional electricity.
In addition, the efficiency of newer solar panels will help your solar energy system to pay for itself even more quickly. You will generate more power and save a huge amount on your electric bill right away with sustainable energy.
Even if you still think you cannot afford solar, companies like Blue Raven Solar offer payment plans. Many of them have zero interest for an introductory period, which can help you to get started with solar. Read more: https://www.inc.com/
Commercial Energy Replacement
Solar energy is becoming more and more popular for commercial businesses. Unlike with your home, you may not be able to go completely off the grid with solar panels for your business.
However, you can still save a huge amount of money on your electric bill by using solar panels on your rooftop. This is especially helpful if you operate a facility that uses high levels of traditional electricity that would normally run up your bill.
Even though solar is very efficient now, scientists continue to work on newer and more innovative designs. Advancements in solar include films on solar panels that will help capture more light. This will help with absorption.
Credits and Incentives
One thing that may motivate you to get your solar panel system now instead of later is the tax credit. Although there will still be a federal tax credit for solar energy in the future, it will go down in 2023 and likely continue to go down as solar becomes more affordable.
You can get 25 percent of your total solar installation cost as a tax credit in the first year that you have a sustainable energy system. This will save you a substantial amount of money on your tax bill.
The Future of Solar is Bright
If you are thinking about installing solar, now is the best time to do it. With this guide to the future of solar energy, you can expect that it will be a good investment in the future of solar technology.
Would you like to learn more about how you can go green in all areas of your life? Check out our site for more tips and tricks for being energy efficient.