Why Utility Companies Want You to Pay More for Solar Power


| 6/12/2015 9:11:00 AM


 

Solar energy has been an attractive alternative energy source for decades, but it wasn’t until recently that widespread adoption has increased. The cost of panels, installation and system maintenance have fallen, making the prospect of solar affordable and appealing to both homeowners and businesses.

To encourage solar power consumption, the federal government has implemented tax incentives. The ITC (Solar Investment Tax Credit) provides a 30-percent tax credit for solar systems on residential and commercial properties. Competition among solar companies has also helped to lower costs and simplify the solar installation and rebate process.

Part of the government’s interest in solar isn’t just about helping the environment; it’s about helping the economy. The solar industry has contributed a substantial number of new jobs. In the last four years, job creation has grown by 86 percent, a period during which many industries were stagnant or shrinking.

Unfortunately, not everyone has been so welcoming to the new kid on the block. As residential and commercial solar installation surges, utility companies who have grown accustomed to large market share are pushing back.



Utility Push-Back

As more consumers make the switch to solar, utility companies around the country are looking for ways to curb the trend. Though solar power still makes up less than 1 percent of the energy produced in the United States, many utility companies can sense a shift in the energy market and are fighting to maintain market share.

Nick
6/20/2015 1:16:29 PM

Good article on the current state of the residential solar power industry. Homeowners should also be aware of the fact that there are now plenty of financing options to allow for ownership of a solar panel system. Savings are many thousands more through ownership rather than leasing. Learn more about affordable solar power - http://solar-power-now.com




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