Drop in Cost of Solar Energy Continues

A continued trend toward cheaper solar power has finally put it within striking distance of being competitive with fossil fuels. If recent trends continue, the price of solar power will continue to fall, while the price of more conventional fuels increases.

Of course, one of the big deterrents of installing a solar system is the upfront cost. One has to be in a position to absorb that cost while waiting for the long term payback of reduced costs from no longer paying the local power company for electricity.

If you lack the money to pay for an installation, there are companies that extend financing, as well as others that will lease a system to you in return for an agreement to purchase electricity from the company at a rate that is the same or lower than you are currently paying.

Additionally, the U.S. Dept. of Energy website lists federal and state rebates for solar installations, which include tax credits and accelerated depreciation.

Needless to say, by installing a solar energy system for your home or business, you are also making a significant contribution to the environment and helping slow the trend of climate change.