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Incredible progress in technology have made solar power the most cost effective energy source compared to others like coal fire power which continues to be the leading source of power supply for many countries. Though, solar power comes with many other rewards over grid-supplied electricity for the home or business owner. Before you make the big switch it is important to compare solar prices to get the best deal.
Enhanced efficiency and lower cost- Solar panels are being produced quicker and cheaper than ever before. The cost of a photovoltaic panel has fallen compared to more than $5 a watt which was the case 30 years ago.
Photovoltaic panels and other forms of solar power have also seen a huge improvement in efficiency over the past few years. While average photovoltaic cells that are silicon based convert 12% of the sun’s energy into electricity, some panels can now reach up to more than 40% efficiency and their lightweight and comparatively cheaper counterparts, thin filmed photovoltaics aren’t far behind when it comes to complete effectiveness.
Installing solar panels for your business or home is smaller and lot more powerful, not to mention cheaper compared to a few years back. The only reason their price will increase is when their demand overtakes speed of production. This is something to think about as the demand for solar power increases over the next few years.
Incentives – There are a lot more tax breaks and incentives now compared to earlier for installing solar power. Some incentives reduce upfront costs by up to 30%. Many state incentives operate on a first come, first-serve basis so if you are considering switching, don’t wait too long or you won’t be able to apply for any of the deductions.
To find out what tax breaks/ current offers exist, visit Energy.gov which shows you what incentives are available at state or city level and the cut-off date to install your system by. It also gives you a description of the offer for different type of solar powered appliances.
Price stability- When you install a solar power system on your private property, you know exactly how much electricity it will produce annually and how much money you will have pay; this could be upfront payment or some sort of payment plan and whether or not you will require additional electricity.
Add to property value- Solar installations increase a building’s value- whether it is a home or an office. A solar panel installation could propel the value of a property by up to $30,000. You might not think much of this after you have paid for the system and its initial installation costs but if you take into account how much you save in electricity bills and add it all up, it makes for a great investment.
Help your neighbourhood- By switching to solar power for your business or home, you help keep the local economy floating as everyone is busy with their individual jobs. Even after the system has been set up by qualified installers, maintenance people need to be local so that they can help perform regular maintenance on your system.
Dependable Energy source- If you decide to install a solar power system with a battery backup that charges when the system is producing energy, solar provides complete electric consistency, no more blackouts when the power grid fails. Even if you’re in a major city you can still experience blackouts or power failures. By switching to a solar power system, you can rest assured as you have reliable power at all times.

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