Is Solar Energy Cheap or Expensive?
Updated: Jan 6
Not too long ago solar power was an idea more than it was a practical application for generating electricity. It was expensive and inaccessible, but it had a promising future.
Today the technology is widely available and is becoming a cheaper energy alternative. The prices of fossil fuels are rising and have no signs of going back down. With the cost of traditional energy sources on the rise and solar power becoming more accessible, solar energy services are gearing up to replace fossil fuels as the new energy standard.
The Price of Fossil Fuels Is Rising
For decades the world has run on the burning of fossil fuels. Our cars burn oil and our homes are powered by the burning of coal and gas. But the resource is becoming more outdated and expensive everyday.
There are two significant issues with the use of fossil fuels as a source of energy. First off, the resources are finite and depleting. The world runs on fossil fuels and there isn’t enough to meet demand leading to increased prices that consumers are left to pay.
At the moment, 85% of the United States energy supply comes from fossil fuels. This dependence on a finite resource puts Americans at a disadvantage as the prices of fossil fuels will soar with no alternative energy source in place.
In an article for The American Journal of Economics and Sociology, the rising prices of fossil fuels is explored. Regarding the rising expense, they say that “This trend is likely to be more pronounced in the near-term future as conventional oil and gas are depleted and difficult-to-extract unconventional oil and gas become a larger part of the fossil-fuel supply.”
Second, the use and manufacturing of fossil fuels is catastrophic for the environment.
The beginning of the manufacturing process destroys wildlife habitats by using up and polluting vast stretches of land. The Natural Resources Defense Council (NRDC) says that crucial land for wildlife becomes “fragmented and destroyed” by the sites sourcing for fossil fuels. Their presence is also harmful to the immediate vicinity by polluting the nearby bodies of water with runoff and spills, making it inhospitable for wildlife and dangerous for humans to drink.
The burning of these fuels for energy creates carbon emissions that affect air quality, exposing 12.6 million Americans daily to toxic pollution. These emissions also trap heat in the atmosphere leading to climate change.
The cost of fossil fuels are rising and will continue to do so until the resources are exhausted. To avoid skyrocketing prices of fossil fuel sourced energy and protect the environment from the destructive nature of oil, coal, and gas, switching to solar power services will save your wallet and the environment.
Solar Power Is Becoming More Accessible
In the not so distant past, solar power services were only used by some larger businesses and wealthier homeowners in sunny locales. Now with the advancement of solar technology comes the lowering cost and increased availability of solar energy services.
What was once reserved for the few is now available for the many. The increasing accessibility of solar energy services means that people on a budget and those in places with lower sunlight exposure can experience the benefits of solar power.
A piece in The New York Times describes this trend. “People who study energy markets say that economics alone ensures our eventual transition to clean fuels, but that policy choices by the governments can speed it up.” Essentially the move away from fossil fuels is happening. It’s not cost-effective and as a country reliant on traditional energy sources, it will just take the government to speed the process up.
Solar power services are experiencing an unprecedented level of growth. The previous expectations for it’s prominence were far exceeded. The International Energy Agency reported a new projection that “has 43% more solar output by 2040 than it expected in 2018, partly due to detailed new analysis showing that solar power is 20-50% cheaper than thought.” They even go so far as to say it is the cheapest electricity in history.
The energy industry is at a turning point. The expected transition to solar power services is approaching much faster than initially expected. Get ahead of the curve and implement solar energy for your home and electric cars to avoid the coming wave of rising gas and energy prices.
Solar Power is Free
The main selling point for people to utilize solar energy services has always been the reduction or complete elimination of your monthly gas and electric bills.
When you source your energy needs from solar panels you often only have to pay the equipment and installation costs upfront. The energy produced by personal solar panels can replace the energy you pay your solar company for every month. When you have an electric car, this also replaces your gas costs.
None of the energy you cleanly produce goes to waste. If your solar panels generate more energy than you use, that power will go to the energy grid and contribute to powering other homes, and the energy companies will pay you for it.
After the upfront costs, which are now cheaper than ever, solar power services can eliminate your monthly gas and power bills, leaving you with more money every month to spend or save.
Cut Your Power Costs With Solar Energy
Solar power services are the future of the energy industry, and the future is fast approaching.
Fossil fuels are harmful to the environment, costing wildlife their habitats and making the world a much more dangerous place for everyone. The world is approaching the point at which the fossil fuels that the vast majority of the country depends on will become depleted. And as we approach that point, the prices of gas and electricity will continue to increase.
Fortunately, solar energy services are more affordable and accessible than ever. The technology has advanced beyond the point of being a niche market, to the next standard in energy that the world will run on.
If you want to avoid the looming uphill battle of powering your life with outdated sources of energy, and paying inflated prices for it, then make the switch to solar power. You can get ahead of the fast approaching energy crisis and save money while you're at it.
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