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Over the past 4 years, solar power capacity has increased more than 300 percent in New York State.

A recent article from longislandexchange.com explains how New York’s solar expansion since 2011 has been twice as fast as the rest of the country’s. Governor Cuomo is doing his part stating – “The Empire State is rapidly becoming a leader in clean energy technology, and that means greener and more sustainable communities for all New Yorkers.”

Cuomo’s recent addition to helping the renewable energy movement was to develop the NY-Sun Initiative which involves 1 billion dollars for solar power expansion. This initiative is part of a greater renewable energy plan called Reforming the Energy Vision.

The 314 Megawatts and counting solar power capacity in New York supplies clean, green energy to 51,000 New Yorkers. The recent and rapid growth of solar in the state has been largely attributed to the NY-Sun Initiative, a decrease in the cost of solar, and the marketing of solar power installers directly to homeowners. Also worth noting is that approximately another 300 Megawatts of solar are under contract as of May 2015. Apparently, New York’s solar deployment is just beginning.

Community solar projects continue to expand across the country and New York is no exception to this trend. Community Solar NY and K-Solar are providing yet additional ways for schools, businesses, and homeowners to go solar.

Perhaps the biggest part of this story, which was not mentioned in the article, is the fact that solar power is now cheaper than conventional energy without subsidies. The cost for a solar panel system over its life is no more than 8 cents per kilowatt hour. The average rate for conventional electricity in New York is more than twice this amount. The word is getting out that you can save thousands with solar over the long term.

Of course, this great solar power opportunity is possible not just because of current affordable prices, but also the fact that it is allowed to compete. This is made possible through net metering where a homeowner or business is compensated by a utility for excess solar power generated and supplied to the grid. In this way, the full value of a solar panel system is realized.

Undoubtedly, solar will continue to expand in the State of New York at impressive rates. As more residents become aware of the massive long term savings possible, solar power adoption rates will soar even more.

It’s not surprising that utilities commonly state how residential solar power can hurt our nation’s electric grids.

As of half way through 2015, our major electric utilities are still trying to find ways to combat distributed solar power generation. It’s not a shock, of course. Solar represents a significant threat to the bottom line of these power companies. One of the many ways in which these corporations attempt to protect their current business models is to claim that residential solar power has negative consequences in relation to grid stability.

The truth is that the effects of rooftop solar on the grid is actually very positive. Let’s consider some of these solar power benefits –

#1: Reduces Overall Costs – Distributed solar power brings down utility costs by reducing the amount of energy that power companies must purchase from fossil fuel power plants.

#2: Reduces Transmission Losses – Since residential solar power generates and supplies energy where it is needed, it helps utilities avoid energy lost from long transmission and distribution distances associated with far away fossil fuel power plants.

#3: Reduces Overall Demand – This helps utilities save money because less future investments are needed for more power plants and new transmission lines.

High solar adoption locales like Hawaii do have to be careful about a surplus of electricity from solar panels being delivered to the grid. However, as economically viable storage solutions start to arrive in the near future, this will not be an issue.

The most common tactic that utilities have used to fight solar is to demand extra fees from solar adopters to help maintain the grid. This, of course, is simply a way for the power companies to try to recoup some of the money that they lose when a homeowner goes solar.

It should be plenty clear by now that residential solar power is not going anywhere. It simply makes too much environmental, financial, and grid stability sense. Many would argue that it was high time that the energy monopoly in this country was broken up, or in this case, disrupted by a technology that has finally hit its prime.

We’ll most likely see major power companies starting to offer rooftop solar power solutions in the near future. They will stand to lose a considerable amount of their customer base if they do not.

Distributed solar power will continue to change the way our electric grids are used. Traditionally, they have been absolutely vital for supplying on-demand energy for a high percentage of Americans. Eventually, as solar plus batter storage becomes commonplace, the grid will begin to act more like a battery itself – used only in emergency type situations.

In a new report from Bloomberg New Energy Finance, it is predicted that approximately $3.7 trillion will be spent on global solar power investments through 2040.

This BNEF prediction describes a major shift from away from fossil fuels over the next 25 years. The $3.7 trillion investment in solar will provide about 35 percent of new electric capacity over this time period. Almost two-thirds of this amount will be for local, distributed solar power generation.

However, the report also predicts that fossil fuels, especially coal, will still provide about 45 percent of our energy needs. This will contribute to a continued rise in global CO2 emissions through to 2029.

As with any forward looking reports, many assumptions had to be made. The methodology of the report did not take into account the EPA’s Clean Power Plan or any new subsidies that may come into play. It is also not likely that the report considered the idea that solar power, combined with battery storage, could be cheaper than coal well before 2040.

There’s a case to be made for an even more optimistic stance on our sources of energy in the near future. The citizens of the world are beginning to demand more clean energy production. So while coal might still be slightly cheaper than solar plus battery storage in the near term, utilities and power corporations can be pressured to do the right thing. In fact, this idea is already happening as world leaders continue to have climate meetings. We do not have to accept the status quo and assume that coal must continue to be a major source of energy into the coming decades.

Our clean energy revolution is happening more quickly than many realize, including the number crunchers working for Bloomberg. We truly are living in a transformative time. Many industries are being disruptive at a rapid pace, energy being no exception.

Let’s hope that solar power continues to surpass expectations on our way to an eventually 100 percent clean energy society.

It was only fairly recently – February of 2015 – that the White House announced clean energy investments from the private sector of $2 billion dollars.

Now just a few months later, the Obama administration has claimed that large institutional investors as well as many others have pledged about $4 billion to spur the advancement of clean energy technologies. Some of the largest investors include Goldman Sachs, the Sierra Club Foundation, the Clean Energy Trust, and the CREO Syndicate.

Some of the investments from this initiative will go towards creating a Clean Energy Investment Center at the Department of Energy. This center will help make renewable energy information more accessible to the public and various organizations. Another portion of the funding will be used by the Small Business Administration to help businesses pursue clean energy programs.

The impacts of the $4 billion will be widespread. Goldman Sachs will be investing $500 million in companies that are developing clean energy technologies. Specifically, smart grid infrastructure and advanced battery technologies will be developed. On an even larger scale, the CREO Syndicate will have invested a total of $3.5 billion by 2020 in green companies of all kinds.

The funds will also go towards supporting clean energy startups. A notable organization, the Clean Energy Trust, is a Chicago-based startup accelerator. This organization is striving to eventually raise $100 million to spur the work of clean energy startups.

Energy Excelerator is another startup program benefiting from the new funding. This one is based out of Hawaii. They have so far supported 32 companies doing green work in the varied fields of agriculture, water, transportation, and energy.

All of this new funding should not come as a surprise. Anyone who reads between the lines here will realize that this private capital is showing up because business leaders are seeing the monetary value in green ventures. The money simply would not be as readily available if these investors were not presented with a potential for good return on investment in the short to medium term.

It could be viewed as rather unfortunate that we had to wait until the time that clean tech was cost effective before we started to tackle our environmental challenges. This is, however, the capitalistic world that we live in.

The future does in fact look bright from here. We are still in the very beginning stages of our clean energy revolution. An increasing amount of capital will be invested in solutions like wind and solar power as business leaders see the economic advantages of these old, yet newly tapped sources of energy.

While residential solar power is growing by leaps and bounds in many states across America, there are still quite a few myths that are slowing its adoption rates. The following 10 solar power myths are some of the most common misconceptions regarding the use of residential solar panels.

Myth #1: Solar doesn’t work in cloudy or cool climates.

Cloudier climates are just as viable as sunnier ones for the use of solar power. The fact is that there is a very small percentage, often only 1 percent, in energy not captured in cloudy climates as opposed to sunny ones. Solar cells actually work more efficiently when the temperature is not too hot.

Myth #2: Solar cell efficiency is still too low. People should wait until it improves.

This is definitely one of the biggest myths out there. While a 20 percent efficiency may not sound like much, it is in fact plenty good enough to allow a homeowner to go completely solar. If the efficiency of solar cells were to double or triple, it would not change things that much. This is because solar panels only account for 25-30 percent of the total cost of going solar. So if far fewer panels are needed, this would amount to a savings of $2,000 or so. A $20,000 install would then become closer to $18,000. Decent savings, but nothing too dramatic.

Myth #3: Solar is still too expensive.

This is another big, persisting myth. The fact is that solar power is now cheaper than grid energy in just about every state in America. A homeowner who gets connected with an affordable solar installer can expect to pay about 8 cents per kilowatt hour for solar energy over the life of a solar panel system. A very high percentage of Americans currently pay much more for their utility provided power. The payback period for solar is just a few short years in many states. The savings amount to many thousands of dollars compared to conventional energy.

Myth #4: Solar panels need ongoing maintenance.

This myth has most likely prevented quite a few people from going solar. The fact of the matter is that there is virtually no maintenance involved with keeping a solar panel system in good working order. An occasional cleaning or snow removal might be needed. Homeowners that do not want to bother with this can easily hire someone to do this simple job. In general, they are cleaned naturally by rain and snow usually melts off before long.

Myth #5: Solar hurts curb appeal or will look ugly on a roof.

Since when does a homeowner get complimented by how pretty their roof looks? If anything, solar panels add some high tech charm to an otherwise boring looking top of a home. There’s is often an initial aversion to anything new. Solar has simply fallen victim to this idea. However, this mindset is changing about solar. As more homeowners install solar panels, it will become a familiar and accepted sight.

Myth #6: Solar panels will do damage to my roof.

Actually, a solar panel system can help protect the part of the roof that it covers. Solar panels are relatively light weight. Roofs can easily support the weight of the panels. They’re also not attached to the roof itself, but to a railing system. Panels can easily be removed if there is a part of the roof that needs fixing.

Myth #7: Excess energy is stored in batteries. Off grid is the only way to go solar.

A very high percentage of people taking advantage of solar power are still connected to the grid. This is primarily because solar is still much more affordable when grid tied. Instead of the extra expense of adding battery storage, homeowners can sell their extra solar energy back to the utility. This set up is what allows homeowners to achieve a much quicker return on investment.

Myth #8: Solar panels require a tracking system.

A high majority of homes have a roof that is suitable for solar by having at least one side facing south, east, or west. A tracking system that moves panels to follow the path of the sun does not capture a significant amount of energy in comparison to the extra cost that is involved. Most situations do not call for this added expense.

Myth #9: Solar still works when there is a blackout.

When the power goes out in a blackout, a solar panel system will automatically shut off. This is to protect workers who may be working on lines nearby to restore power. The inverter is the device that prevents solar energy from going back on to the grid. Generators are available for those who wish to have back up power.

Myth #10: Solar panels will increase property taxes.

Many states actually have laws that state that solar panel systems are exempt from increasing property taxes. A solar system can, therefore, add value to your home without you being penalized for it.

Well, there you have it. Those are some of the more common residential solar power myths that somehow still persist halfway through 2015.

The truth about solar will eventually shine through these myths as more and more people adopt solar power.

The solar power industry continues to expand rapidly in America.

The Solar Energy Industries Association in conjunction with Greentech Media Research have released their report for the first quarter of 2015. The report finds that the solar industry is off to another solid year of growth. In fact, 51 percent of all new electric capacity in the first quarter of this year was from solar.

A highlight of the report concerned the residential market. Residential solar grew by 76 percent compared to the first quarter of 2014. The amount installed was 437 megawatts, an 11 percent increase from the same time last year. This is especially impressive considering much of the installations happened in snow-packed states still recovering from a harsh winter.

Here are some of the other key findings from the report –

• A total of 1,306 MW of solar PV (photovoltaics) was added in the first quarter of this year. This is the 6th quarter in a row that more than 1 gigawatt of solar was added.
• Both residential and utility solar PV have added more capacity than natural gas.
• About 5 GW of solar PV has been installed by utilities.
• Nearly 25 percent of residential solar has been installed without state incentives.
• More than a third of the total community solar installations of 68 MW have come online since 2014.
• SolarReserve’s 110 MW concentrating solar power project is expected to be completed this year.
• The report has also forecast a total of almost 8 GW of solar PV arriving by the end of 2015, with the residential segment continuing to flourish.

An amazing 700,000 solar panel systems are now online in the U.S. The first quarter of 2015 added 66,440 systems to that number.

Again, the star of this report was residential solar. This segment of the market continues to impress. While coal and other fossil fuels can still compete on price at the utility scale, homeowners are seeing sharp differences in the price for solar and conventional energy from their utilities.

Considering the fact that the residential sector is responsible for one fifth of total U.S electricity consumption, the potential for solar power to still fill that need is truly enormous.

Residential solar now makes sense in more than just a handful of select states. Not only that, but tax credits and state rebates are not as vital as they once were, as the report finds.

The report really emphasizes that we are still at the beginning of our solar powered revolution. As quickly as solar installations are showing up in America, we’ll need quite a bit more before solar is a major energy player in this country.

Finally, for a proper ending for this report full of facts and figure –

Our clean energy future is as bright as the sun!

As a follow up to the most recent post on solar payback periods, we will now consider solar panel return on investment.

This post can be seen as part two of the previous post about solar panel payback time frames. Instead of looking at solar ROI (return on investment) from a payback period point of view, we’ll now consider various rates of return now possible with residential solar power.

A typical solar panel roi is now substantially better than ordinary investment products. Common, low risk investments are typically in the 2 to 5 percent range. On the other hand, a homeowner can expect a roi for solar panels that is quite a few times greater than traditional investments. Also, unlike some investments, solar returns are as guaranteed as the sun rising everyday.

So what kind of rates can the typical homeowner expect from a solar panel system? Let’s consider a few examples.

All examples involve a 5 kilowatt system that costs only $9,000 after tax incentives and rebates.

Example #1 (typically priced utility electricity) –

Cost of utility power – $0.15/kwh
Average monthly power usage – 900 kw
Yearly cost for electricity without solar – $1,690
Cost offset by solar (80 percent) – $1,296
Solar ROI is $1,296/$9,000 = 14.4%

Example #2 (high priced utility electricity) –

Cost of utility power – $0.25/kwh
Average monthly power usage – 900 kw
Yearly cost for electricity without solar – $2,700
Cost offset by solar (80 percent) – $2,160
Solar ROI is $1,296/$9,000 = 24%

Example #3 (low priced utility electricity) –

Cost of utility power – $0.10/kwh
Average monthly power usage – 900 kw
Yearly cost for electricity without solar – $1,080
Cost offset by solar (80 percent) – $864
Solar ROI is $864/$9,000 = 10%

Of course, impressive rates of return greater than 15 percent are only possible with access to very affordable solar panel installers. However, the average return on investment for someone going solar is still a considerable 10 to 15 percent.

Getting a great return on your money coupled with the idea of doing the right thing from an environmental point of view is a double win. This is the power that solar now holds for our society.

So whether you’re just looking for a great solar power return on investment, trying to reduce your carbon footprint, or both – solar power is increasingly the answer.

Many homeowners who begin to dig into the financial details of going solar want to know what a typical solar panel payback period is.

As the word is getting out about how affordable solar power is now, this is a justifiably common question to ask. Financially savvy consumers will want to know how long it will take to recoup the money that is spent on a larger than typical investment. Solar is no exception to this rule.

Unfortunately, there is no one answer. Even an often quoted range of 5 to 8 years does not cover every solar panel installation. As of this post, halfway through 2015, a solar payback period can range even more widely. The range can be as wide as 3 to 15 years.

So what can affect a solar power payback number? Quite a few things, actually. Here’s a list of the most common factors –

1. Total solar cost.
2. Price for utility electricity.
3. Available tax incentives and state rebates.
4. Amount of daily sun-light hours.

As you can see, these factors can affect the payback range largely depending on where in the country a solar customer lives.

Total solar panel system cost -$15,000
After taxes and rebates – $9,000

Price for utility electricity – $0.15/kwh
Monthly usage – 900kwh
Yearly cost for electricity – $1,620
Utility electricity offset by solar – $1,296 (80 percent offset)

Solar payback period is $9,000/$1,296 = 6.9 years.

A shorter payback period of 3 to 5 years is more common in parts of the country where utility electricity is higher like the North East and South West.

On the other hand, plenty of Americans pay 9 to 13 cents per kilowatt hour. Does solar make financial sense for them? Absolutely. It may take longer for a solar panel system to be paid off, but they will also benefit as well. In a situation where the payback period is 10 years, these homeowners will still benefit from more than 15 years of free electricity because solar power systems are warrantied for 25 years. There are systems still producing energy that are more than 30 years old.

It should be stressed that the specific payback range that you may seem is not the best number to focus on. This is because it takes the focus away from the true long term value that a solar panel system can offer. When you consider that a system will be producing energy for decades, the differences between a 5 year payback versus an 8 year payback begin to look somewhat trivial. The bottom line is that residential solar power is now a phenomenal investment opportunity for homeowners everywhere.

Whether your specific solar payback is on the shorter or longer side, you’re bound to save thousands over the long term.

Contrary to recent negative news stories about the lack of a solar industry in Florida, the south is actually taking hold of the possibilities that solar power now offers.

Although the cost of conventional electricity is relatively low in the southern states, utilities and homeowners alike are starting to see the value in solar power. The fact is that non-subsidized solar energy now costs less than traditional energy.

One recent story, covered by The Augusta Chronicle, details Georgia’s new solar power embrace. This story covers an organization called Solarize which enables lower solar prices through bulk purchases. This lower pricing was also decreased further by taking into account the 30 percent federal tax rebate.

Utilities in Georgia are starting to work with the new distributed energy landscape that solar power is spurring. The Georgia Public Service Commission has mandated that Georgia Power encourage the spread of solar. Also, the Solar Power Free-Market Financing Act was just passed allowing for third party companies to finance and sell the power generated by solar panel systems back to property owners.

Another recent southern solar power story comes out of South Carolina. Utilities in the state are beginning to offer incentives for people who go solar.

SCE&G is planning on offering an incentive that will pay its customers over a 10 year period if they choose to install solar. These customers will get to sell back their excess solar energy for a rate slightly higher than what the utility charges its customers.

Duke Energy is also providing a considerable incentive to its customers. Instead of a long term program, it is offering a one time incentive worth thousands of dollars.

While the proposals still need final approval, it is easy to see that the tide is starting to turn in favor of solar power.

The bottom line for both of these stories is that solar power is becoming mainstream all across America, not just in higher electricity priced and more liberal leaning parts of the country. Saving money is something we can all agree on.

Solar power now represents economic opportunity for all. This is a concept that truly embodies what America is all about.

Solar power is starting to finally be seen as our obvious energy source. The numerous benefits of solar power is ensuring its rapidly growing adoption rates.

The cumulative advantages of solar power are truly amazing. First of all, there really is no other source of energy quite like it. It is the only significant source of energy that can produce electricity directly from sunlight. Most other major sources of power are created by using steam to turn a turbine which creates electricity. This now seems archaic. The advantage of solar photovoltaics lies in its simplicity – no moving parts required and no CO2 emissions created during use.

Solar’s first difference, how it produces energy, helps set the stage for describing the two primary categories in which it benefits us the most – Environmentally and Economically.

Solar power’s potential as an environmentally friendly source of energy has long been known. However, it has only recently been economically viable to be adopted on a mass scale. Now that solar is cost competitive, its ability to “shine” from an environmental perspective is now beginning to be fully realized.

The environmental benefits of solar energy are quite numerous. Here are the main ones –

• Solar does not pollute the air, unlike fossil fuels.
• Solar does not create radioactive waste, unlike nuclear power.
• Solar is renewable. We will always have solar energy.
• Solar is virtually maintenance free as there are no moving parts involved. Less parts equals less carbon footprint.
• Solar cells can last many decades – further reducing its carbon footprint.

Here is what the average sized – 5,000 watt solar panel system can do over a 25 year timeframe –

• Prevent 250,000 pounds of CO2 from entering our atmosphere.
• Offset the equivalent emissions of a car driving 150,000 miles.
• Have the same CO2 reducing effect of 21,700 square feet of trees.

Over a 30 year time frame –

• 3,000 trees planted
• 20 cars taken off the road for a year
• 0.6 railcars of coal not burned
• 40 tons of waste recycled instead of landfilled
• 1.6 tanker trucks of gasoline not burned

These characteristics of solar power make it the obvious choice from an environmental perspective. What about its other benefits? Let’s take a look at the economic advantages of solar power.

Solar power is now not only economically viable, but actually cheaper than fossil fuel energy in many cases. Solar now has the ability to allow everyone from homeowners to large power companies to save money over the long term.

Here are some micro-economic or residential scale benefits –

• Average savings of at least $10,000 over a 20 year period.
• Hedge against future electricity rate increases through an investment in a solar panel system.
• Along with the near future availability of affordable battery back up storage, the ability to prevent power loss due to a black out.

Here are some macro-economic or nationwide solar benefits –

• The overall strengthening of the American economy through homeowner owned solar power.
• Solar allows for a more resilient grid by offsetting peak demand.
• Solar power is extremely versatile. It can be installed at all scales.
• Solar is spurring the much needed upgrade of our nation’s power grid.
• Solar is helping reduce our reliance on imported fossil fuels.
• As a distributed power source, solar is leveling the energy playing field – power monopolies are beginning to corrode.

After considering the benefits of solar panels so far, the full value of this source of energy can not be denied. Solar energy advantages more than make up for any current drawbacks, the only major one being current lack of adequate energy storage options. This is only temporary as it appears to be only a matter of time before the storage issue is solved.

Increasingly, homeowners are seeing the many benefits of going solar. Whether done solely for financial reasons, environmental, or both – the fact remains that solar power is now the one to choose. Read the environmental benefits of solar page for more information.