- Post author:admin
- Post published:August 1, 2023
- Post category:Can-Am Roofing & Solar Of Central Florida LLC Blog
Key Takeaways:
- Solar energy is the most reliable, renewable, and efficient source.
- The solar industry is experiencing rapid growth, expected to continue in 2023.
- The following solar energy trends will shape the industry in the upcoming years, including increasing government incentives for solar panel installation, rising solar communities, availability of various solar financing options, and solar plus storage systems.
- The rise of solar technology in newer applications is another trend that will drive the industry forward.
- If you plan to go solar, partner with a reliable solar panel installation company to get the job done right.
Solar energy has been in the spotlight for a while now and for a good reason. The industry has added billions of dollars to the U.S. economy, created jobs, and improved our environment. It has also grown 200 times over the last decade, with more and more people turning to solar energy for their power needs.
The focus on reducing emissions and combating climate change drives the solar energy industry. As technology advances, more homeowners consider solar panels a viable option for powering their homes and saving money.
Related: Can Solar Panels Power an Entire House?
If you’re wondering what the solar industry will look like in 2023, it’s expected to continue its rapid growth.
Here are the top five solar energy trends that are expected to shape the solar industry in 2023:
1. Increase in Government subsidies and Incentives in the U.S.
The U.S. government is offering more and more incentives and subsidies for solar installations, making it easier for homeowners to go solar. These government incentives are expected to continue and expand in the coming years as the need for renewable energy grows.
Eligible homeowners can get up to 30% tax credits for solar installations. Florida homeowners can also get an exemption from paying property taxes on the added value of their homes due to solar installation. Moreover, there’s also a 6% solar system state tax exemption in Florida to help further lower the costs.
Homeowners can also access net metering incentives, which allow them to receive bill credits for any extra power their solar system produces.
These incentives help make solar energy a much more attractive and cost-effective option for homeowners in Florida and the United States.
2. Availability of Various Solar Financing Options
As solar energy grows in popularity, so does the number of solar financing options available to homeowners. Many solar companies now offer leasing or loan programs that can help reduce the upfront cost of installing a solar system.
Solar loan programs that allow homeowners to borrow money for their solar installations with low or no money down offer several advantages, such as low-interest rates and flexible repayment plans.
Leasing options have also become increasingly popular in recent years. This can help homeowners save money over the long term while still allowing them to take advantage of the benefits of solar energy.
3. The Growth of Solar Community Programs
The solar communities allow homeowners to join together and get a lower rate when purchasing solar energy. These programs can drastically reduce the cost of installing residential solar systems.
The cost savings are especially beneficial to low-income households, enabling them to benefit from the advantages of solar energy while avoiding high upfront costs.
Moreover, solar communities can support their members by providing technical assistance installing a residential system.
As a homeowner in Florida, you can join a community solar and receive a credit on your electricity bill for the energy generated by your portion of the solar array.
You can use the credits received to offset your energy costs, saving money in the long run.
4. The Rise of Solar Technology in Newer Applications
While the primary solar energy applications are residential and commercial, the technology is becoming increasingly popular in newer applications.
One example is electric vehicles (EVs). In addition to using the sun’s power for propulsion, some models are equipped with built-in photovoltaic panels that allow you to charge the vehicle’s battery while parked in sunny areas. It means you can drive your car completely free of fossil fuel emissions while using the sun’s energy to power your vehicle.
Another application is solar-powered air conditioning and water purification systems. You can use solar thermal energy to heat air or water, and photovoltaic panels and convert solar energy into electricity for powering air conditioners or purifying water.
Solar technology also offers a variety of other applications, such as powering telecommunications towers and providing lighting in remote areas. Solar technology can also be used in agriculture, powering pumps, and storage systems for rainwater harvesting.
5. The Rise of Solar Plus Storage Systems
Solar plus storage systems combine solar technology and battery storage that can be used to store energy generated by the sun during the day for powering electronics or appliances at night. These systems are becoming increasingly popular due to their efficiency and cost-effectiveness, making households less reliant on grid electricity.
Solar plus storage systems can be used to power entire homes, providing an alternative source of energy that is both reliable and renewable. They can also supplement electricity consumption and help households reduce energy bills.
Additionally, solar plus storage systems can be integrated with other renewable energy sources, such as wind and hydropower, to create a more diversified energy supply. This can help ensure that households can access reliable energy even when the sun is not shining or other energy sources are unavailable.
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