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The Rising Affordability of Solar Power [INFOGRAPHIC]

THE RISING AFFORDABILITY |OF SOLAR POWER Solar power is booming in the U.S. Solar prices are on the decline, and while photovoltaic (PV) units are still expensive, prices should continue to drop. Here's a brief breakdown on solar prices in the U.S. SOLAR POWER ON THE RISE IN THE U.S. 485% 30% 2013 16% 2013 2010 2011 In the U.S. from 2010 to 2013, the total amount of PV solar installations grew by 485%. Solar power rose from 16% of electricity capacity installed to 30% in 2013. In Arizona, California and Nevada, solar supplies 2% of total electrical needs. Solar power increased 30% from 2013-2014. 73% 2006 645,000 businesses and residences throughout the country installed solar power in 2014. Solar installation costs have dropped by 73% since 2006. 50% Rooftop solar photovoltaic (PV) panels cost 50% of what they did three years ago. WHY THE DROP IN PRICE? 2013 Global solar panel production increased from 24,000 MW in 2010 to 40,000 MW in 2013. 2010 Cheaper production costs and new, easier to manufacture solar panel units manufactured in China have helped lower costs dramatically. Federal Solar Investment Tax Credit offers a return of 30% of the purchase price on solar, helping to dramatically cut costs. In some states PV owners can receive credit on utility bills for excess electricity that they generate. A number of states offer tax incentives or breaks for solar owners, including property tax exemptions. MAKING SOLAR CHEAPER Tax incentives, more affordable solar technologies, and cuts in soft costs will help to make solar cheaper and more readily available. The White House is working to make solar more affordable for the masses. In August 2015, President Obama proposed a number of "executive actions and private sector commitments," including: 1 Making $1 billion in loan guarantee authority available with new guidelines for distributed energy projects that will use new tech. Residential Property Assessed Clean Energy (PACE) financing for solar projects for single-family homes, along with new community programs to help homeowners understand how they can make homes more energy efficient. The White House also announced that $24 million would be available for 11 solar projects in seven different states. These projects will help to develop new solar technologies. NEW TECH: With advances in technology, future units will be 40 % cheaper and 50 % more efficient than standard units today. BROUGHT TO YOU BY SOLARTECH Sources: http://www.ucsusa.org/sites/default/files/attach/2014/08/Solar-Power-on-the-Rise.pdf http://www.brookings.edu/blogs/techtank/posts/2015/07/28-affordable-solar-power http://theweek.com/speedreads/456003/why-solar-power-expensive-america http://www.ncpa.org/sub/dpd/index.php?Article_ID=24450 http://www.npr.org/sections/thetwo-way/2015/07/07/420837583/obama-administration-aims-to-make-solar-power-more-affordable https://www1.eere.energy.gov/solar/pdfs/solar_timeline.pdf https://www.washingtonpost.com/national/health-science/wind-solar-power-soar-in-spite-of-bargain-prices-for-fossil-fuels/2015/12/30/754758b8-af19-11e5- 9abo-884dlcc4b33e_story.html http://news.nationalgeographic.com/news/energy/2010/11/101105-cost-of-solar-energy/ http://www.scientificamerican.com/article/solar-power-sees-unprecedented-boom-in-u-s/ http://www.reuters.com/article/us-global-renewables-solar-idUSKBNOLO20720150127 http://energy.gov/eere/solarpoweringamerica/solar-energy-united-states

The Rising Affordability of Solar Power [INFOGRAPHIC]

shared by solartechonline on Mar 20
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Solar power is booming in the U.S. Solar prices are on the decline, and while photovoltaic (PV) units are still expensive, prices should continue to drop. Here’s a brief breakdown on solar prices in the U.S.

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