Solar Energy vs. Fossil Fuels: What You Need To Know
When it comes to powering your home or business, there are two main options to choose from: fossil fuels and solar energy. Each of these power sources boasts differing impacts on the economy, environment, and energy security. Hence, homeowners and business owners need to understand these key differences so they can make the best decision for their properties.
In this blog post, we’ll discuss the main differences between fossil fuels and solar energy, comparing their characteristics, economic implications, and the reasons why many are making the shift toward cleaner, renewable energy sources like solar power.
Fossil Fuels & the Economy
Fossil fuels are a kind of power source derived from the remnants of ancient plants and animals. Coal, oil, and natural gas are all types of fossil fuels that people have historically relied upon to power their homes and businesses. However, it’s become increasingly apparent that fossil fuels take a bigger toll in terms of economic cost and environmental impact.
Cost of Fossil Fuels
According to a 2021 study by the University of Michigan, the U.S. spent approximately $1.3 trillion on fossil fuels, with an annual energy cost of $3,967 per person. The cost of fossil fuels can be quite volatile, subject to extreme fluctuations influenced by geopolitical tensions and market forces. This can make it difficult for families and business owners to anticipate the monthly costs of powering their essential systems.
Transitioning From Fossil Fuels
Along with market volatility and unpredictable costs, many are choosing to transition away from fossil fuels due to their environmental impact. Burning fossil fuels releases carbon dioxide into the atmosphere, which can contribute to climate change and air pollution.
Not only that, but fossil fuels have a limited supply, and extracting them can lead to ecosystem disruption and habitat loss. That’s why many nations are taking a more proactive approach to combating these issues by adopting cleaner, renewable energy sources, such as solar power.
Solar Energy & the Future
Solar energy has become a popular alternative to fossil fuel usage for families and business owners across the U.S. and other countries. Using solar panels and solar battery storage systems, people can now harness the energy from the sun to power their homes and businesses.
Cost of Solar Energy
The cost of installing solar panels has steadily decreased over the past few years, making solar energy more accessible to families and businesses alike. On average, solar panel installation costs can range from $17,430 to $23,870, depending on the system size and installation location. However, several government-backed incentives and rebate programs exist to help reduce the upfront costs and make installation more feasible for families and businesses of all backgrounds.
One of the biggest advantages of installing solar panels is that once they are installed, they generate electricity for free, which helps offset or eliminate energy bills altogether. Over time, the savings you gain through achieving free energy will help you recover the cost of your installation investment, allowing you to have a strong return on investment within a few years.
Transitioning to Solar Energy
Along with the cost savings that solar energy provides, there are several other reasons to consider transitioning to solar power, including:
- Environmental Benefits: Solar power is clean and does not emit greenhouse gases during electricity production. This results in reduced air pollution, lower impact on climate change, and an overall improvement for the environment.
- Energy Security: Since solar energy can be domestically sourced and is not influenced by the same geopolitical tensions and market volatility, solar power offers a stronger sense of energy security with predictable monthly costs.
- Job Creation: As a newer industry that is still growing, solar energy presents unique employment opportunities and economic benefits to local communities.
Choose Solar Energy With Solera
Ready to participate in a more sustainable future and save on your energy costs by making the switch to solar power? Solera can help. Our team specializes in installing residential and commercial solar panel solutions to help families and businesses achieve greater savings and adopt cleaner, renewable energy for their properties.