How to Get Cheap Electricity with Solar?
According to the International Energy Agency’s World Energy Outlook 2020, “The world’s best solar power schemes now offer the cheapest electricity in history with a technology cheaper than coal and gas in most major countries.” Cheap electricity was hard to come by in previous years, but with solar power becoming more and more popular, it is now the cheapest source of electricity in history you can find. Not only is solar energy an affordable electric system, but it’s also reducing the carbon footprint on our planet.
Today, we’ll be walking you through the steps of solar and what makes it so cheap. Also, you’ll know what to expect as far as costs go if you do decide to make the investment.
Why is Solar a Cheaper Electricity Option?
If you’re familiar with solar power energy you know that its power comes from the sunshine (which is obviously free). Solar power has always been known to use to lower your utility bills or fully power your entire home. Regardless, each month you received your electricity bill with a solar power system it was significantly cheaper. So, what’s all the hype about it being cheap now?The truth is, sunshine is free, but the technology and solar power systems haven’t always been. Since recently, countries are making adjustments to their policies to make an affordable electric system for solar energy more attractive. “Today, more than 130 countries have policies that lower the cost of building new solar installations. This is the first year that the IEA took such policies into consideration when calculating the cost of solar energy in its annual World Energy Outlook report. After doing so, their estimates of the cost of solar power fell by between 20 to 50 percent per region compared to last year”, according to Carbon Brief.
The Future of Solar
What many may wonder is if solar will stay as an affordable electric system. We believe the answer to that is yes! Projections indicate it will become the ultimate outlet for electricity as prices continue to fall, according to the World Energy Outlook 2020. Solar power will grow more and more popular over the next decade not only because of the decrease in price but also due to the global efforts to help climate change.Solar is on track to become “the new king of electricity supply,” the report says, as prices continue to fall. It’s expected to dominate more and more of the market over the next decade, boosted by global efforts to tackle climate change. By 2030, 32 percent of sourced energy will be solar.