Why Solar?
Solar is the fastest growing energy source in the world, and for good reason. It offers a limitless supply of clean, safe, renewable energy for heat and power. Considering the fact that the Earth receives more energy from the sun in just one hour than the world uses in a whole year it is easy to understand why solar energy sources are a major focus of development all over the world.
The advantages of solar and other renewable power sources are clear: greater independence from imported fossil fuels, a cleaner environment, diversity of power sources, relief from the volatility of energy prices, more jobs and greater domestic economic development. All over the world, solar energy systems have reduced the need to build more carbon intensive fossil-fueled power plants. As the cost of solar technologies has decreased, solar is moving into the mainstream and growing worldwide at 40-50% annually.
There are currently three primary solar technologies:
Solar (photovoltaic) energy allows electricity to be produced in the place where it is consumed, a practice known as distributed generation. Sunlight hours often coincide with peak power demand, so solar panels produce electricity when it is most needed. Reducing peak load through large-scale solar generation improves air quality and reduces the need for new polluting power plants.
Solar thermal systems provide hot water for residential or commercial use.
Concentrating Solar Power (CSP) is a solar thermal technology that can provide electricity at utility scale power plants.
“There are tax credits and accelerated depreciation available for commercial solar electric systems that will literally offset almost half of the installed system cost in the first year. For entities with any kind of tax liability, this is a great opportunity to eliminate or reduce taxes and also earn a nice return on investment. Commercial solar electric systems typically pay for themselves in a five to six year period and earn an average yearly return between 9% to 11% depending on the type of system installed.” - Trevor Casey - Director of Sales - Green Earth Solar