People have always been raving about the significant savings solar energy can give. Because of this, many people are enticed to shift from using coal and other fossil fuels to using solar power.
However, new users often find themselves surprised by how much it costs to get a functional solar power system. From costly solar panels to expensive installation–one can’t really help wondering if there really are significant savings with solar energy.
But is solar power cheaper than coal and other fossil fuels?
The answer is yes! Solar power is indeed cheaper than coal and other fossil fuels. In fact, it’s now the most affordable energy source today!
According to energy research, there has been a 6% decrease in the cost of installing and maintaining domestic solar energy systems. On the other hand, there is a whopping 16% decrease in the cost of having large-scale and commercial solar energy generation.
This massive decrease in solar energy cost is mainly because of innovative technologies. Some are made of cheaper materials, some have an easy installation process, and some can generate more electricity.
Aside from this, the demand for solar power is increasing every year. This pushes the manufacturers of solar panels, inverters, and generators to produce more units a year.
More and more entrepreneurs are also starting to venture into the solar power business. And we’re not just talking about big companies–we’re talking about small and micro enterprises which offer solar energy services.
With this high economic competition, the cost of solar power systems becomes lower.
On the other hand, the costly coal plants are deemed to cease operations by 2030. Not only do they become much more expensive than how they used to be, but more people are also starting to become aware of their long-term risks to the environment.
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