For decades many outside the solar power industry viewed it as little more than a rich man’s gamble. Understood as something driven by a concern for the environment above all else, money was assumed to be a secondary issue—if it was even considered an issue at all.

Well, those days are gone. In just the last few years, solar power has finally made good on not just being a viable source of power, but a source of economic benefit as well. A competitively priced option for those looking to save money on their utilities while cutting down on harmful emissions, solar power is also a surprisingly valuable source of income and jobs throughout the United States.

Everybody Saving Money

Solar power has the capacity to save anyone who uses it money. The average American household, depending on where it’s located, can drastically reduce payments to energy-providing utility companies. Average savings range from $20,000 to over $60,000 across two decades’ worth of solar energy use.

Corporations are starting to see the green in going green, too. Walmart—notorious for their cost-cutting measures—is currently the largest commercial solar power user in the U.S. By 2020, their ongoing investment in solar power could save them as much as $ 1 billion a year in energy costs.

Job Creation

While it looks like the economy is more or less out of the woods following 2008’s Great Recession, growth, good jobs and wages still lag in most industries. Solar power is not one of them.

Here are just a few of the promising ways in which solar power is adding jobs to the economy:

Employment in the solar power industry grew over 20% between 2013 and 2014.
According to SEIA, growth in solar jobs is speeding at a rate ten times faster than jobs throughout the rest of the economy.
The state of Missouri has added 3,700 jobs at an average of $18 an hour in solar power since 2005.

Real Value

Of course, all that solar power-generated energy comes from real projects that have real, measurable value. It’s a value that’s increasing, too. In 2011, the value of solar installations was around $8.6 billion. In 2012, it was up to $11.5 billion. 2013 saw an increase to $13.7 billion.

The growth in value isn’t just collective either. Economists studying the effects of solar panels on home prices in California found solar panels gave prices a bump. Homeowners who’d installed solar panels could expect to recoup around 97% of their upfront costs when they sold their homes, and that’s not counting their lower utility payments.

Health and a Future

According to a recent report by the IMF, the direct and indirect subsidies given fossil fuels worldwide will exceed $5.3 trillion in 2015 alone. In terms of economic benefits, then, it’s hard to argue any longer that solar power lags behind coal or natural gas.

Solar power’s low carbon footprint, low emissions and long-term sustainability make for healthier people, waterways, soil, animals and beyond. It’s a benefit that’s clearly invaluable, but it makes good financial sense, too.

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.