What is the Cheapest Form of Electricity?

The Cheapest Form of Electricity Generation

Last week Popular Mechanics released an article stating that solar was officially the cheapest electricity in history. This followed a report issued by the Energy Information Administration (EIA) that said solar is now the cheapest form of electricity for utility companies to build.

While this is awesome news, we wanted to break it down and, in a snapshot, cover what’s behind this and how you, as a business owner, can benefit:

What’s Driving Solar Prices Down?

To start with, let’s take a look at a few factors that are helping to drive solar pricing down below that of fossil fuel for the first time in history:

1. The last decade has seen a lot of new policies that a) establish requirements for countries, U.S. states, and utilities to produce and use more renewable energy and b) many policies and incentives have greatly reduced the risk of investing in solar installations.
2. With a major increase in solar installations across the U.S. at both residential and small business level, as well as big-scale utility solar installations, there has been a big increase in access to financing for solar projects, making it far more accessible.
3. While solar technology itself has become more advanced and more versatile, the price for solar panel production has continued to drop. This means investors, or installers, are getting more efficient panels, for less cost, which in turn makes solar investments easier to finances and more affordable for the end-user.

According to Energy Sage News, one of the leading solar installers in America, the price for solar has continued to drop over the past decade, putting solar power within reach of any home or business owner who wants to save money on their electric bill.

source: energy sage news

So, What Benefits Does Cheap Solar Power Provide Me?

Now the big question, how does the constantly dropping price of solar power benefit you, the home or business owner? Or rather, how can you take advantage of solar power no matter what your situation is.

While solar has a lot of benefits, by survey the main reason American homeowners are switching to solar is to save money on their electric bill. Yes, solar installations definitely do that, however, not everyone is in a position to be able to install solar panels on their roof. For example, and some don’t want to.

Here are three ways that you can take advantage of solar power and its benefits:

1. SOLAR PANELS: If you own your home or your office building, the most obvious and direct way is to install solar panels. Solar panels provide fantastic energy savings and protect you from the yearly increases in energy prices, all while you produce your own renewable/green energy and help the environment. But if you don’t want to, or can’t install solar panels on your home or office there are two other very simple ways for you to take advantage of solar power:
2. COMMUNITY SOLAR: With more and more policies mandating an increase in renewable energy generation across most U.S. states, large privately-owned solar farms have started to offer community solar to home and business owners within their area. Solar power generated by solar farms is channeled through your local grid and right to your home or business. Earlier this year, Energy Professionals partners with Ampion Energy to launch a community solar program that not only offers all the benefits of solar without the investment or a solar installation but qualifying homes and businesses are also guaranteed a 10% reduction in energy costs. For more information click here.
3. RENEWABLE ENERGY CERTIFICATES: Renewable energy certificates are a great way for any size business that wants to ensure their energy is sourced from renewable energy production or for business and large companies who have renewable energy or sustainability goals. While still connected to the grid, you can ensure the power you use is 100% green energy by contract renewable energy certificates, gaining access to certified renewable energy, and with it comes a certificate to certify that you’re using a specified amount of green energy.

Energy Professionals is here to help any home or business who wants to save money on energy through solar power. Because today, for the first time in history, not only is green beneficial for the environment, it also benefits you by reducing your energy costs.