Solar Energy – Coming to a Home Near You?
Solar energy has been talked about for decades, but only recently has it become more attainable and mainstream. What used to be talk of the future can now be seen actualized with numerous vendors at every home show across the nation. According to Eric Wesoff of Greentech Media, the reason it’s beginning to boon is simple – it’s becoming less expensive to utilize.
He notes the most predominant way for collecting solar energy is (for a homeowner) to install a panel on the roof. These panels are actually rented from a solar company and the energy obtained from that panel is subsequently pumped back into the entire grid.
While solar power accounts for less than one percent of the nation’s and world’s electricity, it’s staking a more prominent place in the market, growing approximately 30 percent each year, according to Wesoff in an interview with NPR.
“There is a revolution going on in solar power,” he said. “The price – it’s as if a car would have cost you $200,000 10 years ago, and today it costs $20,000. Imagine what that would do to the transportation world. That’s a similar type of momentum and trajectory we’re seeing in solar today.”
While he adds that it’s unlikely solar will ever be a predominant source of energy production, it will still be an enormous help. What else can it do for your home? According to the National Renewable Energy Laboratory, each additional $1 in energy bill savings (from solar installation) adds $20 to a home’s estimated total value. That can be up to $18,324 for a medium-sized home using a small 3.1-kilowatt system. A five-kilowatt system adds an average of $29,555 to the retail value of a medium-sized home.