April 23, 2013

The Truth About Solar Energy

Updated: Nov 2024

Financial and Social Benefits

Solar energy is rapidly becoming the preferred choice for households, businesses, and institutions seeking financial savings and environmental sustainability. Contrary to misconceptions, solar is now more affordable and reliable than ever. With costs dropping over 30% in the past two years and accessible financing options, solar power offers immediate and long-term financial advantages.

Financial Advantages

Solar energy has achieved grid parity in many U.S. regions, saving homeowners and businesses significantly. Sensible financing options, such as loans and leases, eliminate high upfront costs. Comparatively, fossil fuels still receive significantly higher government subsidies, distorting costs.

Residential solar systems further benefit everyone by reducing utility infrastructure expenses and stabilizing energy prices. Unlike fossil fuels, solar energy avoids hidden externality costs such as health impacts and environmental damages, saving billions annually in healthcare and disaster recovery expenses.

Job Creation and Economic Growth

The solar industry creates jobs at a rate unmatched by fossil fuels. For every $1 million invested, solar creates 14 jobs, compared to five for natural gas and seven for coal. By 2012, over 119,000 Americans were employed in solar, with annual growth rates significantly outpacing the general economy.

Solar’s Bright Future

Solar is the most abundant and sustainable energy source. The sun delivers enough energy daily to power the U.S. for a decade. With overwhelming public support—92% of Americans favor expanding solar development—its growth is inevitable.

Despite attempts by fossil fuel companies to undermine solar’s credibility, it remains a sound financial and environmental choice fora brighter future.

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