While many people have the desire to switch to renewable energy, they are sometimes hesitant to do so because of the perceived costs. The good news, however, is that clean energy — particularly solar energy — is more affordable than ever before.
The Cost of Solar Has Declined Dramatically
As data from Our World In Data highlights, a big part of the reason why fossil fuels have dominated renewable energy sources is because they have historically been much cheaper. In 2010, the cost to generate a megawatt hour of electricity with solar was $378, compared to $111 for coal.
By 2019, however, solar had dropped to a mere $68 per megawatt hour, while coal held roughly steady at $109. Improving solar technology that lowered solar panel production costs and improved their efficiency made a dramatic impact.
Enjoy Ongoing Savings
This trend means that solar panel installations are much more affordable nowadays than in the past. With more efficient panels, you can power your home or business with a smaller (and less costly) system than would have been required a decade ago.
Of course, solar panels also reduce reliance on grid energy. Depending on how much energy your panels produce, you can dramatically lower or even eliminate your monthly electricity bill, quickly making up the cost of the installation.
If you’d like to learn more about solar energy’s affordability and benefits,
contact Sunrise Solar today. Our experienced team members are experts in designing and installing high-quality panel systems that maximize your property’s energy production potential. You don’t have to break the bank to reduce your electric bill and carbon footprint!