Solar energy continues to become more affordable as prices for solar panels continue to drop around the world.
The April World Economic Outlook from the International Monetary Fund, reports that solar and wind saw the largest decline in price among clean energy sources between the years of 2009 and 2017. Specifically, solar panels saw a 76 percent decrease in price. This was calculated using a “levelized cost of electricity” method, which comes up with a cost per unit of power. The report further states that in 2017, solar saw more investments than all other clean energy solutions combined.
The good news for solar just keeps coming. Here are a few other stats we recently shared:
- Total installed U.S. PV capacity is expected to more than double over the next five years. By 2023, over 14 GWdc of PV capacity will be installed annually.
- Solar energy is now more cost effective than coal and natural gas.
Now may be the perfect time for you to invest in solar. With the federal tax incentive for solar still in place and several local incentives available, installing solar is a good investment for Sacramento residents and business owners because it will lower their electricity bill and help preserve the environment at the same time.
If you are interested in going solar, make sure to give us a call at 916.853.2700.