As the national discussion focuses on renewable and clean energy, many people have questions about how the change in how we fuel our homes will affect their bottom lines. What energy source, in the end, will save me more money? The answer is not a simple checkbox – there are several things to consider when making the determination considering whether gas or solar power will be more affordable for you.
Gas and Solar Power in Today’s Energy Market
Access to solar power has jumped by leaps and bounds in the last decade. The idea that you have to have gigantic solar panels on your home to take advantage of solar energy is now obsolete. Localities are investing in solar plant technology to provide access to solar power to homes in a universal manner. The caveat, however, is that the technology requires a large capital investment upfront, which in the beginning can be passed on to consumers in the form of their rates.
Because the technology for gas power is already in place, those costs would not be a factor. Although the technology costs could be prohibitive because the US government has a strong interest in cleaner energy, there are many government grants available to expand the potential of solar energy to be a viable energy alternative. The government grants available are not only for commercial expansion but also to convert homes to use solar energy as well. If you want in convert your home to solar energy, investigating grant opportunities to finance it could be helpful.
Gas and Solar Power in the Future
As more solar energy plants are developed, the opportunity costs to build these plants will go down, and the upfront costs will not be as much of a factor as they are currently. Once that happens, it is predicted that solar energy will cost less than gas, and the savings will be enough to make a significant dent in your power bill.
Also, the prices of gas are determined by market rate and the ability to obtain natural gas to produce power. With a renewable energy source, such as solar technology, that dependence is virtually eliminated. When it comes towards making an evaluation on whether solar technology is for you, it simply comes to deciding whether the current opportunity cost is worth the long-term reward. Our nation’s demand for a renewable energy source is moving at lightning speed. The decision to invest is merely a “now or later” approach.
Looking for advice on how to conserve energy in your home to lower your utility costs? Look no further than Energy Home Pros. Our professionals can evaluate your home for ways to improve your energy efficiency in many ways. Contact us today to schedule an appointment and we can put our expertise to work for you. Take this opportunity to make your home more energy efficient today!