Home Solar Delivers Lower Power Bills, Better Investment Return
Solar is a better investment than the Standard & Poor’s 500 in 46 out of 50 U.S. cities, states a Natural Resources Defense Council post on The Energy Collective.
A report by the NC Clean Energy Technology Center shows that “buying an average-sized, five-kilowatt solar power system for a single-family home and financing it at 5% over 25 years is the smart financial move for people looking to cut their electric bills and get profitable and stable returns on their investments,” NRDC writes.
Like this story? Subscribe to The Energy Mix and never miss an edition of our free e-digest.
“If the environmental, public health, and job creation benefits weren’t enough, we can now add financial gain as another reason that solar makes ‘cents.’”
Solar is already cheaper than grid electricity in 42 out of 50 major U.S. cities, NC Clean Energy found. State and local policies for grid interconnection are gradually becoming more favourable. And more states now permit “solar gardens,” community installations that allow tenants, or homeowners with poor solar gain, to buy in.
“Shared solar enables tenants and others—low-income people as well as middle-class households—to jointly own or subscribe to, sometimes on a month-to-month basis, solar power systems that tap into the clean and profitable power of the sun,” Bull explains.