The sun generates 8,000 times the earth’s annual energy usage, thereby dominating all other non-renewable resource options. With solar costs rapidly declining, solar has become a very inexpensive and practical option.
A report from the International Energy Agency indicates that solar energy could become the largest global source of electricity by 2050. Solar power is therefore the fastest growing, affordable energy source in the world and offers an unlimited supply of clean, reliable, safe and renewable assets for heat and power.
In a nutshell, it’s a great home or business efficiency upgrade, and reduces carbon footprint while improving property value.
Benefits for residential homeowners
So as long as the sun shines and the PV system is operational, solar energy can:
- Drastically reduce, or even eliminate your electric bills
- Reliable energy supply with now power drops
- Alternative energy solution during load shedding
- Increase investment yield of your property assets
- Access to breakthrough solar technologies to prevent or minimise future energy cost increases
- Once a solar panel is installed, solar energy can be produced free of charge
- Solar energy will last forever whereas it is estimated that the world’s oil reserves will last for 30 to 40 years
- Very little maintenance is needed to keep solar cells running. There are no moving parts in a solar cell which makes it impossible to really damage them
Commercial And Business Benefits
Since solar energy provides a healthy ROI for companies, it’s quickly moving mainstream and growing worldwide at 40-50% annually.
Earn a great return on investment
Solar panels aren’t an expense – they’re one of the best ways to invest, with returns rivaling those of more traditional investments like stocks and bonds. Thanks to substantial electricity bill savings, owners can pay off their solar panel system in seven to eight years and sees an ROI of 20% or more.
Protect against rising energy costs
One of the most clear cut benefits of solar panels is the ability to hedge utility prices. In the past ten years, electricity prices have gone up annually. By investing in a solar energy system now, you can fix an electricity rate and protect against unpredictable increases in electricity costs.
Increase property value
Multiple studies have found that buildings equipped with solar energy systems have higher property values and sell more quickly than non-solar buildings. Appraisers are increasingly taking solar installations into consideration – and as property buyers become more educated about solar, demand for properties equipped with solar panel systems will continue to grow.
Boost energy independence
The sun is a near-infinite source of energy and a key component of achieving energy independence in the United States. By increasing our capacity to generate electricity from the sun, we can also insulate our country from price fluctuations in global energy markets.
Protect the environment
Solar is a great way to reduce your carbon footprint. Buildings are roughly responsible for 38% of all carbon emissions and going solar can significantly decrease that number. A typical residential solar panel system will eliminate three to four tons of carbon emissions each year the equivalent of planting over 100 trees annually. Renewable solar energy contributes to the reduction of a country’s dependence on foreign fuel, which makes generating own electricity from a solar energy system patriotic as well as environmentally and fiscally responsible.
Demonstrate a commitment to sustainability
Sustainability and corporate social responsibility are important components of an organisation’s culture and values. They also produce bottom line results. Increasingly, consumers and communities are recognising and rewarding businesses that choose to operate responsibly. Businesses are finding that ‘green’ credentials are a powerful driver of consumer purchasing decisions, creating goodwill and improving business results.
Increase employee morale
Just like consumers, employees have a demonstrated appreciation for their employers’ commitment to operating responsibility. Employees share in the success and contributions of their organisations. Companies that care about their community and environment tend to have lower turnover rates, more engaged employees, and higher levels of morale.
Early adopters of solar energy solutions pull ahead of the competition and many companies are now exploring solar power as a way to keep up.