Comparing energy costs

Even in today’s world where news reports of climate change are everywhere, Fossil fuels, continue to be the world’s number one source of energy. Fortunately, due to many earth-conscious people, renewable energy is experiencing rapid growth. In several countries, renewable energy is the leader. Despite being a non-renewable source, there is still a high demand for fossil fuels due to their affordability and reliability. From heating and lighting homes to fueling vehicles, fossil fuels play an integral role in energy production and the global economy. But short-sighted and greedy individuals continue to press for expanded oil drilling in extremely sensitive areas.

Incentives making solar a viable energy choice for the masses

In order to encourage the adoption of renewable energy sources, governments have levied tax credits for solar and wind energy, which until recently, were far more expensive than their fossil fuel counterparts. Thankfully, due to increased production, government subsidies and growing environmental concerns, the costs of solar and wind production have decreased. In fact, some markets generate renewable energy cheaper than fossil fuels. Currently, wind energy is mostly used for commercial means, such as wind farms, but solar energy has both commercial and residential applications

Fossil fuels are almost gone...what will we do next?

Most estimates suggest that fossil fuels will be depleted within the next 50-60 years. While sources of coal, natural gas, and crude oil continue to be depleted, consumption of fossil fuels has not. The U.S. Energy Information Administration reports that fossil fuel production and consumption rose to 70 quadrillion and 80 quadrillion British thermal units (BTUs) in 2014 from 62 quadrillion and 77 quadrillion respective BTUs in 2012. This represents a three percent increase in fossil fuel consumption over a two-year span. Considering all energy sources, fossil fuels trump renewable energy and nuclear power. In 2014, fossil fuels accounted for over 80% of the energy used while renewable energy consumed a mere ten percent.  Not only are fossil fuels nonrenewable, they are also a cause of several extremely harmful environmental effects.  Burning fossil fuels is the leading producer of anthropogenic CO2, which has contributed enormously to climate change. Some of these effects include global warming, rapidly melting ice in the Arctic, rising sea levels, and reduced crop yields. While the U.S. recklessly spends over $1 trillion annually on fossil fuels, the deleterious effects from burning them continue to add to our economic costs. In 2009, it was estimated that the costs of burning fossil fuels in the U.S. were $120 billion a year in health costs mainly due to air pollution. Research suggests air pollution in Europe is responsible for economic costs of $1.6 trillion a year in diseases and premature deaths.  Analyzing the combined expenditures on fossil fuels, health care costs, and environmental degradation, it is estimated the true cost of fossil fuels is $5.3 trillion a year globally. 

There has never been a better time to install a solar energy system!

Solar power is here to stay, and the sooner you explore how much you can save, the sooner you can enjoy the benefits of residential solar power. Go to HahaSmart.com and try our price checker tool. It tells you how much solar power you need, and how much you can save.

Please visit our solar blog to find out more about the benefits of going solar.