One side says “It’s expensive!” The other says “It’s a money-saving investment!”
One says “It’s ugly!” Another says “It’s beautiful because there are no emissions!”
While all of these thoughts are valid, they are fairly general statements. As always, the devil is in the details.
Today, we list out 10 of the major pros and cons of solar energy that people often cite and look a little deeper into each one to see if the pros stand up under scrutiny and the cons truly are valid.
One very important point: these pros and cons of solar power are for solar, right now. The cons listed here may go away with something like Tesla’s solar roof.
While this image is a little out of date (and we are not investment advisors), it gets the general point across: solar is a great investment.
While solar installations do require a high upfront cost (see con #4), solar owners can recoup their investments in as little as 7 years, depending on the size of the installation, utility rates, and available financial incentives, and homeowners in many states see a better return on investment than the S&P 500!Continue reading
How could an industry that is built on saving millions of homeowners thousands of dollars each not be a smart, successful investment?* While this statement is certainly true, as of fall 2016 stock prices for solar financing and installation companies are currently trading in the single digits. What is going on?
* Note that we are not financial advisors and this post is for entertainment purposes only!
Over the last 10 years, the solar industry has seen a veritable explosion, with year-over-year growth around 60% (compared to the average utility’s 13.4% annually increase in revenue from 2010-2015). Large national solar companies that offer power purchase agreements (PPAs) and leases have been able to secure huge financing deals to cover these agreements, in which the solar companies recoup their initial investments in small monthly increments over the course of customers’ 20 year agreement.
In addition, the average price of solar panels has decreased a whopping 70% in that same time, further reducing total installation costs, leading to more and more homeowners making the decision to install solar.Continue reading
With $3 billion in foreign investments rolling in, southern Egypt is poised to become a solar powerhouse.
A total of 39 solar power plants are either planned or currently under construction in the Benban area north of Aswan, on the west bank of the Nile. Almost 9 thousand acres of that area will be dedicated to power production.
Selling surplus electricity across state lines can bring in extra income for EU nations.
Germany will have earned close to $2 billion from energy exports according to Fraunhofer-Institut für Solare Energiesysteme ISE based on energy data reported to the German government. The data on Germany’s imports and exports of various sources of energy are displayed in graphical form by Fraunhofer scientists.
LJ Furman, MBA, who writes about economics and policy at Popular Logistics, has done a comparison of stock market gains and losses comparing the top fossil energy companies stock prices, with the stock prices of near-random group of sustainable companies over the last three years till December 2015.
This way to go solar would not have been possible before the age of Big Data. The plug is essentially an information transfer mechanism.
Two older studies had already found that buyers were willing to pay an average of about a $15,000 premium for homes with solar. One of these studies surveyed potential buyers, in January, and confirmed that there was a willingness on the part of buyers to pay a premium, and also found that it didn’t make a difference whether the systems were owned or leased.
The City of Las Vegas has filed a request with the Public Utilities Commission (PUC) of Nevada to get power from part of a 100-MW solar farm that SunPower is developing in Boulder City for the state utility NV Energy.
Way back in the early days of the fossil energy industry, gas and coal was dug out of the ground and then fed via long pipelines or railroads to power stations to produce electricity. That’s where the “gas” in PG&E got its name — with gas. The gas was also fed directly in pipes into people’s homes – and fracked from under them too!