In the last few years, the price of solar energy has fallen dramatically. This trend has been propelled by an increased consumer demand along with a thriving home solar market.
While the sun is free, generating electricity using it does involve some costs. The most significant of these is the purchase of the equipment. In order to make the most of this free and renewable energy, homeowners and businesses are turning to energy storage systems, such as batteries.
When the sun doesn’t shine and the wind isn’t blowing, stored solar energy can be converted to electricity and used as a power source. This also lowers electricity costs for homeowners and businesses since they can regulate the amount of power they need, when they need it – particularly important for those on a fixed income. If you’re looking to enter the solar energy market, here’s what you need to know.
The Cost of Solar Energy
The cost of solar energy will vary from state to state, and county to county, but it tends to be quite affordable. This is particularly true in California, where the costs have steadily decreased over the last few years and have now reached record lows. This is due, in part, to government subsidies and incentives, but it’s also because the demand for solar energy has increased, thus driving down per-unit costs. In fact, solar energy is so cost-effective that some utilities even offer special rates to promote their use.
The cost of solar energy can fluctuate based on several factors, including the amount of sun exposure, prevailing electricity prices, and equipment prices. These fluctuations can make it challenging to accurately predict what an investor may pay for a solar energy system, but they typically do not deviate by more than 10% from the average.
How Does Solar Energy Work?
Solar energy works because the sun is a constant, reliable source of energy that never stops providing fuel for our planet. When the sun shines, it provides enough energy to power a home. This is thanks to the photovoltaic effect where light particles in sunlight are converted into electricity through the phenomenon of electron movement within solar cells.
The technology to harness the power of the sun isn’t new. The Romans were known to use it to grind their own flour, and today, many modern homes still retain this ancient technology.
While some people prefer using fossil fuels for their energy needs, the move to renewable sources is now considered mainstream. This is especially the case in California where, since 2011, the state’s energy portfolio has shifted from 19% fossil fuels to 49% renewables. This trend is evident across the country with 32 states now placing a higher emphasis on alternative sources of energy. As a result of this increased reliance on renewables, the cost of electricity has steadily decreased, decreasing the overall cost of living in these states. If you live in California and are looking to enter the solar market, you’ll want to do so now before the prices rise again.
Where Can I Sell My Solar Energy?
As mentioned above, the cost of solar energy is steadily decreasing due to increased consumer demand and fierce competition in a heavily regulated market – particularly in California. This has led to a growing number of homeowners and businesses turning to renewable resources in an effort to lower their costs and reduce environmental impact. With the popularity of alternative energy sources increasing, now is the perfect time to cash in on this trend and enter the solar energy market.
There are several places you can sell your solar energy, but first, you’ll want to determine how much you’re actually producing. A good way to do this is by tracking your monthly energy production and comparing it to the total energy consumed by your home or business. If you can produce more energy than you need, then you can consider selling the surplus to your neighbors or providing it to the local utility company for net metering. However, if your energy production is lower than what you use, then you can’t simply resell it. Instead, you’ll want to find a way to reduce your energy consumption – whether it’s through upgrades to your appliances or changing your daily routine to reduce your energy use. The key to lowering your energy bills is to find ways to reduce the amount of energy you use, not to increase it. For a more detailed explanation, be sure to check out our guide to the different types of energy supply contracts.
If you live in California and are looking to get started with solar energy, you’ll want to do so now before the prices rise again. Not only will this make cashing in on this energy source easier, but it’ll also give you the confidence to make the move when the time is right.