Why Do We Need to Utilize Solar Power
Sun’s energy received by the Earth is 6,200x more than what Earth needs! In other words and theoretically, Sun provides enough energy to fulfill our entire energy needs many times over. (Read about a few more interesting facts)
Since the 1970s, the price of solar energy has consistently fallen by roughly 5% every year. And the price of conventional electricity has risen roughly 5% every year during the same period. The point of inversion is coming, some say as soon as 2015. At that time, basic economics will govern and you would not read any further.
As of now, let us look at some of the other reasons for moving towards harnessing solar energy. Top 10 reasons to consider utilizing solar energy as you evaluate ways to meet your energy needs.
- Attractive Financial Return: With only upfront costs is installation and non-existent maintenance capital expenditures, solar energy provides an attractive way to realize long term financial benefits and attractive rates of return. Our advisory professionals can show you the math, if you are interested in the details.
- Sell Excess Power: Through Power Purchase Agreements (PPA) and other methods, you can sell any excess power to the utility providers or electricity boards. Some developers are building solar power generation units solely for the purpose of supplying to energy companies, through contractual agreements that guarantee a solid return on their investments.
- Government Rebates and Financing: In many cases, local and central governments offer incentives in the form of direct funds, financing and tax rebates to promote and support the installation of solar power units.
- Energy Independence: Is there a better feeling that not having to worry about external factors to provide for your electricity needs? Solar power lets you generate electricity right in your backyard.
- Rising Electricity Rates: Conventional power is dependent on natural resources, which are further dependent on global pricing, geopolitical challenges and technology issues. Historically, price of conventional electricity has consistently risen over the last four decades, whereas price of solar power has reduced driven by rising demand and technological advances.
- Minimum Maintenance: With no moving parts, solar power generation units require minimum maintenance efforts and expenditure. Even a strong torrential rain will only help in cleaning up the solar panels, and making them more efficient.
- Creates Jobs: One of fastest growing sectors, recognized by governments across the globe, in terms of creating new job opportunities.
- Preserve Mother Nature: As debates over sustainability wrangles on, this is one of man’s initial efforts to supplant hydrocarbon based energy sources and generate power in the least disruptive methods.
- Unlimited Distribution to Remote Areas: Sun shines equally on everyone. Remote and rural areas are unique benefactors to solar energy as the power generation units could be located in the vicinity of end-users, eliminating the need to install elaborate infrastructure (and associated costs) to transmit the power over long distances.
- It is the Future: Believe it or not, this is where the future of energy is headed. If you are not convinced, you just need to wait a little before history unfolds before your eyes.
Solar energy utilization is just right – financially, morally and naturally – with every sunrise!