How Soon Can Solar Panels Power The Entire World?

Solar panels are becoming the primary choice for homeowners across Golden, CO, because of their potential to drive down 70-100% of a property's energy consumption within a single year. Today, things are looking bright because the technology's capabilities are becoming better while their price tags are cheaper. But, will they potentially dominate the world as a practical energy source? Let's discuss it below.

Today's high-quality solar panels are becoming much cheaper because of the extensive competition between manufacturers. You could only find a few solar panel manufacturers available in the past, making it rare and expensive. Nowadays, you can find so many options that can fulfill your property's energy needs. Professionals can also give you their best estimates to achieve your property's energy needs without any hiccups.

Solar panel energy capabilities have increased from the groundbreaking proof that it exists by collecting 1% energy more than a century ago to achieving beyond 20% energy accumulation today. However, the technology is only starting to grow, and it may as well guarantee a complete 100% energy accumulation as the technology continues to improve.

Lastly, the continuous improvement towards solar energy retention is the most significant proof that the technology will continue to become an anchor towards a practical energy source in the future. Researchers continue to look into ways to enhance the technology's capability, making them a possible energy source for an entire country.

So far, an entire city is willing to use solar energy as one of its primary sources. For example, the city of Valparaiso is launching its plan to use 890 solar panels installed in buildings to subsidize its energy consumption. Read more about it below from NWI's report.

The panels will be mounted on five city buildings, Valparaiso's three treatment plants, the City Services building on Joliet Road and City Hall on Lincolnway. While the panels have an initial price tag of about $740,000, solar will save the city more than $130,000 annually in electrical costs. At that rate, the the panels will pay for themselves in about 8.2 years. The savings over the life of the solar panels is estimated to be $4.6 million, according to a city news release. 

"Now that wattage for solar panels has increased over time, and prices have stabilized, solar makes financial and environmental sense for the city,” Poulos said. 

The city's current lighting budget is about $400,000. Poulos said Valparaiso already saves about $80,000 a year by intentionally reducing energy consumption. Over the past 10 years the city has invested in more efficient equipment, allowing the city to save on energy costs while serving more households and businesses than ever before.

Valparaiso Mayor Matt Murphy said he is excited about the project, adding that the panels will not be visible from the street, which will maintain the city hall's historic appearance.

The city is currently working on the project's design. Once that is completed Valparaiso City Services and the City of Valparaiso will seek bids for qualified contractors for construction slated to start in 2022. 

“Utility costs have long been some of the City of Valparaiso’s largest expenses, so we’re very pleased to find ways of offsetting these costs,” Murphy said. “We’re pleased to find renewable energy options and reduce our dependence on non-renewable energy." (Continued reading here to learn more)

If you have yet to find a dependable solar panel installation team from Golden, CO, you can always count on us at Roper Roofing & Solar. Contact us today to learn more about everything that we can do for you.

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