How cost effective is solar energy?

Answer 1

In light of recent improvements in solar panels and inversion technology, increasing demand, increasing costs, and the fact that America as a nation has yet to improve it's energy independence solar power is now becoming very practical for many a household.

Add in the fact that the government helps pay for it with federal tax credits and some states actually rebate a large portion of the costs to homeowners and the cost of upgrading now can be almost nothing. Consider you'll then reduce your power bill considerably and if you set it up right, you can actually sell power back to the power company during peak production periods.

Now consider too, the feds are printing money like mad, which will cause prices of everything to increase dramatically in the next few years, if you are on solar power, your costs are now locked in. The new solar panels will last 30-40 years and require little, if any maintenance. In 10 years, the writer of Earth Currents and other future predicting books say we will have solved much of the energy crisis expressly because of more efficient green energy solutions such as this.

Answer 2

Solar energy is considered cost-effective in the long run due to declining installation costs, minimal operational expenses, and potential savings on electricity bills. While the initial investment may be higher, it can pay off over time through reduced energy costs and potential incentives or tax credits. Many factors, such as location, system size, and available sunlight, can impact the overall cost-effectiveness of solar energy.