Solar Energy: The Power Source of the Future

The concept of solar power has been around for quite some time already. Despite this, some people may have doubts regarding its capabilities. With recent developments, however, they may just be convinced to install solar panels in their home.

An Overview of Solar Power Development

One researcher pointed out how solar power reliance has surged globally for the last 15 years. This observation came as a result of the International Energy Agency (IEA)’s continual conservative predictions on solar energy growth. Initially, the IEA thought that the world could only add 50 gigawatts of solar energy capacity per year. Moreover, they thought solar energy capacity would decrease.

The researcher gathered all the IEA’s predictions since 2002 and compared them with historic data on global adoption of solar energy. The historic data showed how much solar energy skyrocketed for the past 15 years. In fact, The Guardian reported that new solar energy installations increased by 50% in 2016.

Decline in Solar Prices, Lower Utility Bills Attributed to Higher Solar Energy Installations

One can attribute the rise of solar energy to the steady decline of solar panel prices. The Solar Energy Industries Association, in fact, observed that solar panel prices decreased by 67% since 2011. Thus, people can expect solar energy to be more common because of this trend.

Solar panel prices aren’t the only reason behind the popularity of solar power. The thought of saving money in the long run also makes solar energy installation more popular to individuals. Correct Energy New Mexico says that harnessing the power of solar energy through the installation of solar panels can help homeowners save on monthly utility bills.

With these reasons, one can see how solar energy can be the energy source of the future. Homeowners can start taking advantage of this energy source by having solar panels installed on their roof.