Solar power is making history.
Not only is clean energy changing the world, but it has never been this affordable to own.
The International Energy Agency’s World Energy Outlook concludes that solar energy applications are less expensive than coal and gas in most major countries around the world.
That’s also great news for the planet’s environmental health. Models show the rise of renewable energies and the decline of oil demand will help put a lid on CO2 emissions, making a significant contribution to our efforts to fight back against climate change.
The agency, a leading authority on global energy systems and the future of energy, predicts explosive growth in the solar industry as more home and business owners realize the value and competitive pricing of solar.
By 2040, there will be 43 percent more solar output as more consumers get access to clean and affordable energy alternatives, according to the outlook report.
New data from the report show that the price of solar electricity is actually 20 to 50 percent less expensive than thought just one year ago. In many locations, solar can generate electricity below $20 per megawatt hour, making it one of the most affordable sources of electricity in history.
The agency analyzed various data points to reach this conclusion, including the cost of capital for developers that focus on energy generation. It has come in much lower this year as businesses reap the benefits of policies that encourage green energy use.
Homeowners and business owners can also take advantage of impressive tax breaks on all solar applications systems.
Through the end of this year, taxpayers can receive a 26 percent solar tax credit on solar systems on both residential and commercial properties. The tax break will drop to 22 percent in 2021 and will only be available for commercial use in 2022 before it phases out altogether.
Since the solar investment tax credit has been implemented, the industry has grown by more than 10,000 percent.
The future of solar power has never been brighter. You can take advantage of today’s extraordinary solar prices and tax incentives to bring clean and affordable energy into your home or business.
Contact us today to get started!