Most of us still think that solar power is not within reach of the average person in terms of cost; that it is still something more likely to be adopted by devoted environmentalists or government-funded groups. Well that’s not the case anymore according to recent studies.
The results of a poll conducted by Harris Interactive® this past February show that 97 percent of Americans overestimate the cost of residential solar panels, and 78 percent who do not already have PV panels say they would go solar if cost were not a factor. The survey was conducted for residential solar power service firm Sunrun.
According to the survey, 95 percent of the 2,000 adults surveyed were concerned about rising utility rates, “yet homeowners remain paralyzed by misconceptions about what it costs to install solar.” Only 3 percent of respondents “understand that installing solar can cost less than $1,000 upfront” and that 40 percent think going solar costs $20,000 or more upfront.
Another study just completed by professors from Michigan Tech and Queen’s University, Ontario shows solar energy systems are about to reach what industry folks call the “tipping point,” or the point at which solar energy becomes widely available, and as cheap or cheaper than our current electric systems.
Reasons for the change include a recent, massive drop in the price of solar photovoltaic systems. Manufacturers are figuring out ways to make solar more affordable and built with less cost. Since 2009, solar panels are down 70 percent in price. And, variables previously thought to be barriers to solar adoption, like installation, maintenance and power production concerns, aren’t the factors they have been in the past. At the same time, it turns out that photovoltaic technology has a longer shelf life and greater productivity than originally thought.
So now may be a great time to look into going solar at your house. If you are considering solar power panels for your home or business, the solar power specialists at Oak Electric Service are happy to answer your questions, including inquiries about financing and tax credits for solar installations. We invite you to visit our website at www.oakelectric.com to learn more about us; or give us a call at (800) 964-7070.