Your Solar Panels Are a Wise Investment Towards the Future
Solar energy continues to be the biggest energy breakthrough in the last century up to now. Once a proof of concept, solar cells can now power homes, highways, factories, and other commercial and industrial properties. With today's current climate crisis, it is becoming the foremost choice for power in many countries.
Many see the decline of coal and oil-powered energy production already in sight. In just a few more years, coal mining and heat production will affect the atmosphere or run out of the surface to find them. Without replacement technology, the world will end up with lower electric production. The world gains another chance with solar energy.
Many companies continuously research and improve their existing solar energy technology. The result is a highly-competent industry with far-reaching benefits for its consumers. Homeowners now enjoy an average of 25% solar energy efficiency for each solar cell collecting energy from the sun.
In light of recent events, solar technologies are the world's best chance of outsmarting the existing climate challenges. A new US bill ensures solar and wind projects will double by the end of the year. Read more about it from this Guardian post.
Renewable energy is set for an unprecedented boom in the US in the wake of its first ever climate bill, with the capacity of solar and wind projects expected to double by the end of the decade and providing the bulk of total American electricity supply, new analysis has shown.
The passage of the legislation, known as the Inflation Reduction Act (IRA), will help propel the US towards the forefront of the clean energy economy, experts predict, helping it compete with China on the manufacturing and installation of solar panels, wind turbines, batteries and emerging zero carbon technology.
The tax credits contained in the bill’s $370bn of climate spending should help double the capacity of installed wind and solar by 2030, according to an updated analysis by the research firm Energy Innovation. This extra resource could enable clean electricity to provide anything from 72% to 85% of total US supply by this time, flowing from 795 to 1,053 gigawatts of cumulative solar and wind capacity.
“This bill is going to make it very cheap to create clean electricity – you are going to get an incredible amount of deployment of solar and wind,” said Robbie Orvis, a senior director of analysis at Energy Innovation.
“It will really unleash investment in renewables. It has all the incentives to grow the industry domestically. It’s a complete jump-start for renewables.”
About $180bn in extra capital investment in renewables could be spent by 2030, according to Energy Innovation. A separate research group, Rystad Energy, has forecast even more will be funneled into the sector – about $270bn – leading to hundreds of thousands of new jobs. “The Inflation Reduction Act is a game changer for the US wind and solar industry,” said Marcelo Ortega, renewables analyst at Rystad.
Previously, wind and solar developers had to rely upon short-term tax breaks and partner with banks or other large institutions. The new bill provides the certainty of a 10-year tax credit program and allows the credits to be transferrable to the developers themselves. There is also billions of dollars for the domestic manufacturing of clean energy components, as well as rebates for people to buy electric cars. (Continue reading here to learn more)
Count on Roper Roofing and Solar to provide top-notch roofing and solar panel installations for your home. We can also install GAF Timberline Solar Shingles, so call today to get started.
