Solar Power Facts
With exploding energy prices, solar power has never made more sense. Here are some solar power facts that may open your eyes to its value.
Solar Power Facts
The more you look at the facts surrounding solar power, the more surprised you are. While solar power is a much better power source for the environment, it now makes incredibly sense from an economic perspective. Enough hyperbole, let’s get to the facts.
- William Adams first discovered solar power cells in 1876.
- In 1952, David Chaplin and other employees at Bell Labs discovered silicon made solar cells much more efficient.
- In the late 1950s, NASA started using solar cells as a power source in space.
- In 1983, 21 total megawatts of solar power producing cells were installed worldwide.
- By 2004, 927 megawatts of solar power producing cells were installed worldwide.
- Convert to solar power and you can claim a tax credit of up to $2,000 on federal taxes.
- Unlike tax deductions, tax credits come off the tax you actually owe. If you prepare your tax returns and find you owe $10,000, the $2,000 would be deducted from the $10,000. A huge tax savings credit you should investigate.
- In 35 states, you are allowed to run the power produced by your solar power system back into the utilities grid. Known as net metering, this allows you to sell your solar power to the utility, more or less eliminating your electrical bill and saving you thousands of dollars over the years.
- With the “Million Solar Roofs Initiative”, the U.S. Department of Energy hopes to have one million solar power homes and buildings in the United States by 2010.
- Solar power demand is growing at 25 percent a year, while utility energy demand is flat.
- The Earth receives more energy from the sun than is used in the entire world in one year.
- Solar power panels are 15 percent efficient at converting sunlight to energy. Plants on your lawn are 3 percent efficient.
- Germany is the fastest growing solar market, followed by Japan.
- The U.S. is the third.
- Schools and colleges throughout the country are currently converting to solar power as a way to reduce power costs.
- Homeowners qualifying for Fannie Mae, FHA and VHA mortgages can get benefits from lenders for going solar under the Energy Improvement Mortgage or Energy Efficient Mortgage Programs.
- Once installed, solar panel systems require no maintenance and should last 30 to 40 years.
- Solar panel systems come with 20 to 30 year warranties.
All and all, these solar power facts lead to one conclusion. More people should do it to save our planet and reduce our need for fossil fuels.