Solar Energy Stats: How Much Does Solar Power Cost?

When we think about the future of energy, one of the industries that comes to mind is solar power. The industry grew by 23.1% in 2022, and employment in the sector is expected to rise by 27.8% over the next five years.

While the price of solar panels has dropped significantly in recent years, the cost of installation has remained high. If you’re considering installing solar power at home, it’s important to do your research first and find the right contractor for the job.

Why Go Solar?

There are many reasons why people choose to go solar, but here are the top five:

1. Sustainability.

Sustainability has become a key theme in modern living, and one of the biggest drivers behind the growth of the solar industry is its focus on sustainability. As the world’s energy needs continue to grow, it’s important to find sustainable solutions to contribute to global energy security. At the same time, going solar is often considered a good choice for the environment. The production of solar power does not involve the use of non-renewable fossil fuels, and therefore it can be considered a sustainable and green energy source.

2. Price.

The cost of solar power continues to drop, and as a result, more people are able to afford the technology and choose to go solar. In 2022 alone, the price of solar modules dropped by 10.9%, and the cost of solar power projects as a whole fell by 6%.

3. Flexibility.

One of the biggest advantages of solar power is its flexibility. The sun provides energy regardless of the time of day, and this means that you can generate energy whenever you like using a collection of solar panels – even on cloudy days! When the sun isn’t shining, however, the energy generated by solar panels does not come to zero, so you’ll still need to generate some electricity from other sources.

4. Energy Independence.

A large number of people are choosing to go solar as a way of reducing their energy dependence on dirty, non-renewable energy sources. By generating your own energy using solar power, you’re taking a step towards energy independence. It’s no secret that the world’s energy needs continue to rise, and as a result, more and more people are looking for ways to reduce their energy dependence. While solar power isn’t a complete solution to energy security, it’s a better choice than depending on non-renewable energy sources that are costly and dangerous to obtain.

5. Peace of Mind.

Last but not least, we have peace of mind. Those who choose to go solar often report that they do so because they want to have complete control over their energy supply and know that their power comes from a completely sustainable and environmental-friendly source. Many people fear climate change and the damage that it will cause, and those who go solar are actively participating in saving the planet by providing an environmentally-conscious power source.

There are many reasons why people choose to go solar, and it’s important to look at the big picture rather than just the price of solar panels. While it is true that the price of solar panels has fallen dramatically in recent years, the cost of installation has remained high. If you’re considering going solar at home, find a reputable contractor to help you out.

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