Solar Power Industry Surpassing Coal

The amount of solar power jobs in America is now roughly equal to the amount of coal jobs, according to Brad Plumer of Vox. Tim McDonnell from the Climate Desk argues that the number of solar powered jobs may actually be far past the number of coal jobs because the total number of coal jobs should only include coal miners.

The increase in solar power usage is likely a result of the push toward a cleaner energy. Using solar power helps alleviate green house gas emissions. Installing solar panels on your own home will actually save you money a lot quicker than most people realize. Not only has the price of solar power decreased over the past decade, but projections show it will continue this trend.

Some regions, such as California, even offer incentives if you install solar power on your home. From Convergence Energy, the cost to install a solar panel system for a home of 3,000 sq ft would equal roughly $60,000! While that sounds like a lot, the long term savings, along with immediate benefits could actually make you money.

Here is an excerpt from Convergence Energy’s pricing page:

“The federal government, for example, now offers a 30% tax credit for many solar systems. Some states and cities also have incentives in the range of 25% of system cost. As a rough guide, you can assume that a residence will need to initially spend about $20,000 per 1000 sq. ft. of space to generate enough electricity to offset typical usage.

That means that a 3000 sq. ft. home would require a system costing approximately $60,000. But with incentives, a $60,000 system could end up costing only $27,000 in some locations. The good news is that even for two people the equity value and savings will result in a net positive income for the length of the loan and that equity value has been proven to last over 30 to 40 years. Then the system will generate $300-$600 in non-taxable income each year.”

Be sure to check out the full article from Vox regarding solar and coal power.