The cost of Solar is now cheaper than grid electricity in every Chinese city, according to a study published by the World Economic Forum.This amazing news is something that could soon have everyone lining up to install solar panels on their homes!
Is the cost of Solar dropping that low in the US also?
Latest figures show that we are already seeing this trend across America. The cost of solar in some places has dropped below the level of the current supplied by utility companies. This is true already for several US cities, including the North East coast.
Solar installations are booming globally
The push for widespread adoption of solar power is going strong. From basic personal applications all the way to large-scale mega plants, solar is enjoying a level of adoption unlike anything in its history so far.
With developments being pushed, investments being made into the industry, and more people and companies looking to jump into this particular form of green energy, the solar power industry is only going to get bigger. The future is a solar-powered one—and here are some reasons why.
The cost of Solar installations is now much more affordable
Solar technology is getting to a point where it can seriously threaten to edge out traditional grid-supplied power. That’s because solar is already affordable and accessible enough for many people and communities, and even corporate entities.
Getting solar as affordable as grid power, or even cheaper, is the key to unlocking mass adoption. In some countries, solar is already cheaper than grid power, thanks to large-scale solar plants that feed power to consumers. Soon enough, household PV systems will be a common sight in many neighborhoods.
Solar fits the focus of sustainability
With people becoming more aware of green measures, particularly in the energy sector, the appeal of solar grows more. The sense of urgency to keep the environment healthy and to establish sustainability only drives more solar power awareness.
The initiatives to hop on clean energy platforms will continue to gather momentum heading into the future. This becomes even more true as we continue to deplete our fossil fuel supply.
The cost of Solar power dropping is only one side of the coin. The other is that Solar is also great in that it doesn’t produce harmful byproducts like emissions when producing energy. It’s all not completely waste-free yet, but we’re off to a good start. Further innovations and improvements in solar technology will surely be welcome as far as sustainability goes.
Solar is practically limitless
As long as we live on this earth, that means the sun is blazing high in the sky, and that it can provide us with ample energy provided we have the means to harness sunlight properly. On that front, we’re good for some 7 billion years or so! Even for those that imagine the sun will expand during a red giant phase and swallow the earth along the way!
Given that the sun provides us with theoretically more energy than we can handle, it’s only natural to make sure we make the most of it. It will certainly be a nigh-impossible task to find a freely available raw material that can be turned into usable energy. So, sunlight is unparalleled based on that criteria alone. It’s technically not a limitless source of energy, but the sheer length of the timeline that we have makes it seem like we’re dealing with infinity.
New improvements in the technology are constantly arriving
Improvements in solar energy technology, coupled with massive efforts to incentivize the adoption of solar power in day-to-day as well as long-term applications, are all pointing towards a solar-powered future.
The best time to start your switch to solar energy is now. Get started on that future now by having a solar power system installed in your home or building today!
Contact us at Renewable Energy Corporation today for a free quote. We will provide all the advice you need to make the decision to go Solar!