The United States’ dependency on fossil fuels has been a topic of concern in the past few decades. Our use of fossil fuels has contributed to climate change and political tension. It’s time to take renewable energy seriously.
You may have seen more solar panels popping up on homes and businesses lately. You love the idea of having solar panels, but isn’t it cost-prohibitive?
There are options for solar finance that are accessible to both businesses and homeowners alike. Read on to learn about different technologies and how you can afford them.
Trends in Technology
Not so long ago, people were reluctant to use solar technology because of its limitations. If the sun wasn’t shining, solar panels couldn’t generate power. There was also a problem with storing the energy until it was needed.
Recent solar trends include unique solutions that seek to solve these problems.
Researchers have continued to work on battery technology. Currently, lithium-ion batteries are the most commonly used battery for storing energy in solar energy systems. Companies are seeking to improve lithium-ion battery efficiency and reduce their costs.
Another battery in development is the iron-air battery. This particular battery works through a process of converting rust back into iron. It is low cost and lasts for a long time.
Form Energy, the company developing the battery, believes the iron-air battery can pair with lithium-ion batteries to help power a reliable solar energy grid.
A solar panel on a building can never operate at full capacity 100% of the time. Cloud cover and nighttime hours mean that there will be downtime regardless of how much sun a particular place gets.
One solution to this problem is the use of solar satellites. A solar panel is attached to a satellite in space. Without the Earth’s atmosphere or the restrictions of day and night, the panel could continuously collect and process the energy from the sun.
Solar Finance Options
If you want to use clean energy, you may find that the expense of installing technology is outside of your budget. Fortunately, there are options for renewable energy financing that are available to homeowners and businesses.
One common method of financing solar panel installation is through loans. Your bank may have loans specifically earmarked for renewable energy. Other third-party lenders specialize in solar energy financing.
In the US, there are tax credits available to people who install solar energy systems on residential properties. This credit is set to expire in 2021, so now is the time to get your solar panels.
Experts agree that funding is critical to getting the country on a clean energy grid and reducing our dependence on fossil fuels. Additional financing options maybe become available in the future as we push toward a greener future.
Install a Solar System Today
There is no doubt about it, the future is dependent on switching to clean energy. Investing in a solar energy system in your home or business is a smart choice. Contact your local solar panel installation experts today and learn about your solar finance options.
Check out our tech section for more articles about life-changing technologies.
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