Solar is the future! It’s a clean source of energy and you can use it to decrease your existing energy bills. Imagine Energy shows us how with a handy infographic.
Investing in solar equipment for your home is no small thing, but if you’re interested in helping contribute to a cleaner environment and lowering your energy bills, it’s a great endeavor to undertake.
Electrical power needs an extra 258 gigawatts to meet future demand by 2030. This equates to an additional 250 to 500 baseload power plants rated at between one-half and one gigawatt of energy. In addition, infrastructure costs are increasing. So the cost of maintaining the power grid will only go up. This includes high-voltage transmission lines and towers, power sub-stations, and electric distribution systems. In the next ten years, electric utilities will invest $14 billion per year.
In 1997, rate caps were put in place and have begun to expire. This gives the impression that rates are rising when in actuality, costs that have already been incurred by the energy company are being transferred to customers.
Solar panel advancements are making it cheaper and easier to install and maintain. This leads to a quicker return on investment, solar rebate programs, higher appraisal values with solar powered homes, and selling 15% faster than other homes.
There’s plenty more to read in the infographic below.