Solar energy used to be expensive and unaffordable for a long time in the past. However, with the development of the relevant technologies and materials, solar energy has become an affordable source of energy that has a lot of crucial advantages.
Using alternatives with a low carbon footprint has not only become the right choice, but also a cost-effective alternative to the energy that would otherwise be imported from the power grid. Here are a few reasons why solar energy is one of the best investments nowadays.
1. Solar energy is one of the most important alternatives to fossil fuels
Although renewable energy still can’t fully replace fossil fuels, it is one of the most important energy sources nowadays. With a completely free fuel, solar energy is one of the most sustainable alternatives to fossil fuels that are releasing large amounts of carbon dioxide and other greenhouse gasses into the atmosphere. Solar energy will play a crucial role in replacing conventional source powered systems with green, sustainable solutions.
2. Solar energy is less expensive than energy produced from fossil fuels
According to the data analysis in recent years, the installation of new solar power plants has become less expensive than the maintenance of the existing thermal power plants that use coal as its main fuel source. This means that an operating thermal power plant needs more investment than the construction of a completely new solar power plant of the same power.
3. Solar power plants require simple maintenance
Solar power plants require a minimal amount of maintenance, which includes mostly cleaning the solar panels. Compared to other energy sources, the cost and time, as well as the amount of people necessary for maintaining the system, is quite low.
4. Solar energy, combined with storage provides independence from the power grid
Using energy storage and charging it with solar power provides completely self sustainable power systems that are able to work independently from the power grid. This means that, in case of power outages, such solar-powered systems are able to work continuously and provide the consumer with a stable power supply.
5. Governments are providing a large amount of incentives
United in the fight against climate change, many official institutions and governments are providing incentives for solar-powered projects, and in that way helping people and companies with the initial investments. This way, people are able to invest in solar systems with an even lower capital.
6. Lower electricity bills
Solar power plants in industrial systems, or homes, provide energy that would otherwise be imported from the power grid, for a market price. By investing in solar systems, a customer can expect to have a return on investment (ROI) period of approximately 5-7 years, and after that the energy consumed is basically free.
Solar power plants are not only the best option ecologically, but they are also becoming the cheapest and most independent energy source. This is why solar energy investments, including on grid but also off grid systems, are one of the most current investment trends.