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Solar Power Systems — News

Solar Electricity is On the Rise

November 19th, 2014

To paraphrase Vishal Shah, a solar industry analyst for Deutsche Bank, in just two years hence solar produced electricity will eclipse traditional methods. And the cost of production for solar continues to decrease. The information was contained in a white paper on Vivint Solar, one of the largest solar panel installers.

According to predictions, costs will keep decreasing until around 2019 and then perhaps plateau.

solar electricity

So far not all states are as affordable for solar electircty but it is expected that by 2016 it will be nationwide. Indeed it is expected that installations will increase by 400% to 500% within a few years or so.

To illustrate how much solar electricity is on the rise, there is a total solar capacity of 16 gigawatts operating and of that amount, almost 5 gigawatts was installed in 2013.

It is worth noting that there is a tax credit offered by the federal government that is 30% but it is set to expire in 2016 and decrease down to 10%. As a result of this, there is more of a push now.

Even at 10% tax credit, solar panels with still be worth it for a majority of states.

Solar Panel Cost

The cost of solar panel installation has come down so much that at this point the greater bulk of the cost is associated with advertising, permits and labor.

There has been some pushback from the utility companies in many states. They say that people with solar power systems should still help pay for their share in the cost of establishing and maintaining the grid. Some people who have solar panel systems for their home in states such as Arizona have seen a slight increase in their utility bill because of this.

Solar panel cost

The utility companies sometimes resent the net metering that makes the meter reflect when the system produces more than is needed during the day and so the meter spins backward. Because of this pushback some states are looking at revising their net metering policies to reflect the grid costs. Among these states are California, Arizona, and New Mexico. Some of the outcome will depend on political debate and resolve.

The above article "Solar Electricity is On the Rise" is a paraphrased synopsis of an article by Lucas Mearian of Computerworld on Nov 18, 2014, with some additional editorial input by solarpanelstuff.com

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