Energy cost comparison

News reports of climate change are everywhere, and the dire consequences of man's folly are becoming evident in our daily lives. Despite the tremendous momentum of solar power, fossil fuels continue to be the world’s number one source of energy. This comes at a big price and the world is finally realizing the scope of the damage. Fortunately, due to many earth-conscious people, renewable energy is experiencing unprecedented growth. In several countries, renewable energy is the leader of all sources of energy. Despite being a non-renewable source, there is still the high demand for fossil fuels due to their relative affordability and convenience. From heating homes to fueling vehicles, fossil fuels play an important role in energy production and the global economy. But short-sighted and greedy companies continue to lobby for expanded oil drilling in extremely sensitive areas. Now that solar energy is becoming more affordable, the world needs to get on the "solar train" or be left at the station.

Incentives making solar a competitive energy choice for the masses

In order to motivate the adoption of renewable energy sources, governments have levied tax credits for solar and wind energy, which until recently, were far more expensive than fossil fuels. Thankfully, due to increased production, government subsidies and growing environmental concerns, the costs of solar and wind production have been steadily declining. In fact, some localities 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 in the present day world.

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

Most estimates suggest that fossil fuels will be completely gone 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 63 quadrillions and 76 quadrillions respective BTUs in 2012. This represents a three percent increase in fossil fuel consumption over those two years. Considering all energy sources, fossil fuels trump renewable energy and nuclear power in current usage. In 2014, fossil fuels accounted for over 80% of the energy used while renewable energy used a mere ten percent.  Not only are fossil fuels nonrenewable, they are also a cause of extremely harmful environmental effects that harm all living organisms.  Burning fossil fuels is the leading producer of anthropogenic CO2, which has contributed greatly to climate change. Some of these effects include global warming, rapidly melting ice in the Arctic, rising sea levels and reduced crop production. While the U.S. recklessly spends over $1 trillion annually on fossil fuels, the terrible 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 mostly 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 real 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.

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

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