As concerns mount, scientists, governments, and concerned people around the world are looking for ways to help stem the effects of climate change. Solar energy will be a valuable part of many plans to combat climate change.

Right at the Source

The leading contributors to climate change are carbon dioxide and greenhouse gas emissions, and at 33 percent the electricity industry releases the most greenhouse gas emissions. Any move away from fossil fuels will help put a dent in those levels of emissions.

While solar energy adoption has grown exponentially over the past few years — in the U.S. solar energy capacity increased more than 20 gigawatts from 2008 to 2014 — more capacity will be needed to make a large difference on a global scale. A recent report found that the world needs to add 53 gigawatts of solar energy each year between 2013 and 2020 to arrest the dangers of climate change.

Solar Incentives

As the benefits of adding solar power to the world’s energy supply become more clear, governments have started offering incentives to make it easier for residents and business owners to install solar.

Since the Solar Investment Tax Credit was adopted in 2006 the average cost to install a solar project fell 73 percent, making solar energy more accessible. That’s good news for both the planet and consumers; the cost of residential solar electricity has dropped 45 percent since 2010.

Some residential rates have fallen below 5 cents per kilowatt hour which translates into big savings on electricity bills. There are also several grant and financing programs available to small businesses to help spur solar power adoption.

Recently, President Barack Obama announced his hope to expand loan programs that allow homeowners to install solar panels without the big upfront costs.

“We’re going to make it even easier for individual homeowners to put solar panels on the roof with no upfront cost. So we’re taking steps that will allow more Americans to join this revolution, with no money down,” said President Obama. “The real revolution going on here is that people are beginning to realize that they can take more control over their own energy.”

Researchers are also looking at other factors that influence solar adoption and are working to reduce existing hurdles.

“Soft costs is a pretty huge bucket,” said Minh Le, program manager of the Solar Energy Technologies Program at the U.S. Department of Energy (DOE). “Group purchase programs such as the Solarize programs in various states show a dramatic increase in adoption rates.”

Mythbusting

There has been debate over whether solar panels take more energy to produce than other fuel sources, thereby negating their environmental positives. Take that information with a grain of salt, though. There are no standards for what is included in determining a solar panel’s carbon payback period.

Studies in the U.S., U.K., and The Netherlands have found the carbon payback period for solar panels to be between 2.5 and 7 years, depending on weather conditions. With an expected lifespan of 25 to 30 years, solar panels end up offsetting their production many times over.

At the same time, technological advances are improving solar panel efficiency. This April, three solar companies set new records in solar efficiency. With more research, solar technology will only become better, reducing their carbon payback period even further.

If you’d like to find out how installing solar panels on your roof can help you drive your electric bill down to zero, contact us today for a free quote.