There are many benefits, both globally and within local communities, of solar energy.
Many communities rely on fossil fuels, and importing these, for the provision of electricity, fuel and heating. These types of fuel adds up to a significant amount of money that the local economy will lose, because resources are not able to be produced locally.
Solar energy can be developed locally. The money spent on fossil fuels stays in the local community instead, through the creation of new jobs and this helps economic growth.
Because renewable energy involves very labour intensive technologies, jobs within this sector come from the pipeline of producing solar power. This includes the design, manufacture, marketing, installation and servicing of solar panels. Jobs also can arise from other businesses that supply the renewable energy companies with their equipment, transport and services such as accounting.
The wages from such jobs bring extra income into the local economy. Solar power companies tend to contribute more tax revenue in the local economy than other more traditional energy sources.
As the demand for solar energy increases, so will the demand for materials to be manufactured and new technologies to be developed. Such tasks involve skilled employees, leading to significant job growth.
Because the sun’s energy can be enjoyed everywhere in the world, it belongs to no one. The sun cannot be taxed, it doesn’t have a price that fluctuates. Negotiations are not necessary with the sun. This means that by embracing renewable energy, we are moving firmly towards energy independence.
Bills are an unwanted expense for us all, and our electricity bill can be quite substantial. This is because it includes the cost for heating your home and your water, as well as cooling it. The price of your bill will depend on the energy efficiency of your home.
Solar power can significantly reduce your bill, because you will not be tied to the rate of rising electricity tariffs, thus freeing up your money and boosting the economy.
How much are solar panels?
Solar panels cost between £3K and £6K depending on your roof space and home requirements. The first year return on your renewable energy is likely to be between £300 and £877 and the profit made by you over 20 years can be between £4,250 and £17K, depending on the size of your installation.