Jan 19, 2015

Solar Is Cheaper Than Grid Electricity In 42 Of 50 Largest US Cities

Now a new report called Going Solar in America, prepared by the North Carolina Clean Energy Technology Center with the support of the U.S. Department of Energy's SunShot Initiative, shows how the plummeting costs of going solar could already make it the more economical choice for energy consumers in 42 of the U.S.'s 50 largest cities. It found that in those cities, a fully financed solar system would cost average residential consumers less than they would pay for electricity from their current local utility. "Most Americans are unaware of the true financial value of solar today," said study authors Jim Kennerly and Autumn Proudlove. "Seen by many as a technological luxury, solar energy is not seriously considered as an option by most homeowners in the U.S. However, our analysis shows that, in 46 of America's 50 largest cities, a fully-financed, typically-sized solar PV system is a better investment than the stock market, and in 42 of these cities, the same system already costs less than energy from a residential customer's local utility." The study found that 9.1 million single-family homeowners in the 50 cities live in a place where buying a solar system outright would cost less than their current utility bill over the life of the system, and 21 million would pay less if low-cost financing were available. Please continue reading from: Solar Is Cheaper Than Grid Electricity In 42 Of 50 Largest US Cities