Study shows solar delivers powerful ROI
Though solar advocates have said that solar power offers significant economic and environmental benefits, a recent study shows solar delivers powerful ROI as well. According to the Maine Public Utilities Commission, solar installations across the state are actually delivering a value of $0.33 per kilowatt hour, and that’s without considering the impact the solar industry has on the job market.
“They looked at every kilowatt hour of solar that we would get from somebody putting solar panels on their home or their business and feeding that into the Maine grid,” says Dylan Voorhees, clean energy director of the Natural Resources Council of Maine , according to Maine Public Broadcasting. “And they tried to really count up and monetize all of the different values and benefits of that, and any costs that would be associated with doing that on the electric grid.”
Factors assessed in the study included:
Reduced electricity prices, due to displacing more expensive power sources
Less air and climate pollution
Reduced costs for our electric “grid” system
Reduced need to build more power plants to meet peak demand
More stable prices and greater energy security from a diversified energy supply.
“The study confirms that solar power provides enormous value to Maine people and energy users,” Voorhees noted in a press release. “Solar provides critical energy diversity as well as environmental benefits. However, for Mainers to reap more of those benefits, we need more effective state solar policies.”
The study did not include reduced costs of the distribution grid either. Despite this data providing a tangible benefit to communities, its full value has been disputed and is difficult to measure.
Overall, solar is a critical investment for any state and its citizens. If you’re looking to explore their own solar options that need more information about installing solar panels for your home contact SolarMax Technology Inc.
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