As the Earth warms up more and more every year, people and governments are turning to renewable forms of energy to reduce their carbon dioxide production. The most renewable source of energy comes from Earth’s continual source of light, the Sun. Solar energy is one of the most common forms of renewable energy seen in daily life.
Many people, especially younger generations like millennials and Gen-Z, are trying to find ways to help the planet in their own lives. So, this blog will answer the question: how feasible is it actually to go solar?
To answer this question, we must first examine the reasons that prevent people from installing solar energy systems. On a large scale, solar energy has been affected by President Trump’s tariffs on imported solar panels. According to a Bloomberg article by Brian Eckhouse, Chris Martin, and Ari Natter, the tariffs “dealt a fresh blow to renewable energy developers… by stripping away an exemption the industry was counting on,” causing the industry to lose thousands of jobs and halt ongoing projects. These tariffs make it harder for people to access solar panels since many of them are imported.
On a more personal scale, many people are turned off by the significant investment solar panels require, often over ten thousand dollars. According to Neil Yeoh of Forbes, people are also excluded from eligibility by their credit scores (for loan programs), rooftop position and building height, and home-ownership status.
These conditions for solar energy lead many people to say, “Well, it’s just not in the cards” or “We would have done it when we bought the house, but now it’s too late.” I’ve even heard my parents say the latter statement when I asked why our house didn’t have solar panels. But there are several worthwhile incentives and rebuttals to the above counterarguments that make solar energy feasible, even for the millennials and Gen-Z’s who are continually worrying about student debt and rent.
First, let’s discuss the price of solar panels upfront. According to the Chicago Tribune’s article “Solar Panels Are Getting More Powerful and More Affordable” by Patricia Mertz Esswein, an average six-kilowatt system costs between $11,214 and $14,406 after the solar tax credit. This is definitely a large amount of money, but Esswein also states that “the average household will recoup the cost of their system in just over seven years.” That’s a pretty short amount of time! (If interested in the cost of going solar for yourself, Esswein recommends the EnergySage Solar Calculator – www.energysage.com/solar/calculator.) The article also states that solar loans are easier and more affordable than ever; the installer as well as banks, credit unions, manufacturers, and even utilities offer financing (Esswein). Going solar is actually more feasible to homeowners than many people think.
Companies, the federal government, and state governments give incentives for going solar. The first and most widely known incentive is the federal tax credit for using solar power, although this will be phased out by 2022. Not to worry though – there are other credits available. Net metering, which allows “customers to sell excess electricity to a utility at a retail rate and receive credit on their utility bill” according to the National Conference of State Legislatures, is available in many states for solar users. To solve the problem of rooftop ineligibility due to orientation or homeownership, customers can subscribe to a community solar farm; the users still get savings on their electric bill without changing their houses (Yeoh). Finally, the Database of State Incentives for Renewables and Efficiency has compiled a list of incentives for solar in all 50 states. In Maryland and Pennsylvania alone there are over 150 programs encompassing rebate, loan and grant programs as well as property, sales, corporate, and personal tax incentives, credits, deductions and exemptions. The incentives are out there for solar users to find.
In conclusion, going solar is actually more feasible than it ever has been. States and companies keep offering incentives to make up for the cost, and scientists keep finding ways to make solar panels more efficient. With these advancements, each family can reduce their electric bills and their country’s carbon footprint.