Although some form of solar power has been available for decades, the technology has only recently gained mainstream acceptance and attracted the interest of big-time utility companies. On a per-kilowatt basis, solar power remains expensive relative to conventional sources of energy like coal and natural gas. Nevertheless, its overall cost continues to shrink at a rapid rate. As solar power becomes an increasingly important component of the country’s “energy mix,” it’s worth taking a look at five major benefits of solar power.
1. Changing Relationships with Public Utilities
Homeowners and business owners who install solar panels on their property enjoy more equitable relationships with their local utilities. Whereas conventional arrangements between utilities and their customers require the latter to be wholly dependent on the former, solar power users gain a measure of independence from their utilities. Even if their solar panels don’t produce all of the power that they need on a daily basis, they’ll need to buy less conventional power. If they produce more power than they require, their utilities may actually pay them for it at a fluctuating wholesale rate. For cash-strapped homeowners, this can turn into a significant source of revenue.