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Home / Solar Power / Why Are Americans Switching to Renewable Energy? Because It’s Actually Cheaper

“Gone are the days when solar panels were an exotic plaything of Earth-loving rich people,” Tom Randall writes for Bloomberg Business. “Solar is becoming mainstream.”

Currently, the federal government allows a 30 percent investment tax credit for solar, but it is set to expire at the end of 2016, at which point it will decline to 10 percent. A report from Deutsche Bank says that even without additional subsidies, solar is already cost competitive in 14 states. If the credit is renewed and costs for solar continue to fall as predicted, then we could see solar electricity as cheap as average electricity bill prices in 47 states within the next two years, according to Deutsche Bank’s report. If the credit is not renewed, we could still see 36 states at grid parity.

 

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By John Fitzgerald Weaver

John Fitzgerald Weaver is a solar developer; known digitally as the 'Commercial Solar Guy.' As a project developer and installer, he’s sold and managed 50+ solar projects, valued over $25 million, ranging in size from 5kW to 1500kW. He’s been involved in many aspects of the solar supply chain –- as a company founder, developer, project manager, manufacturer, permit runner, salesman, contractor and financier. In his free time he tries to get away and clear his mind by climbing mountains, or more regularly by enjoying an IPA or scotch, and really loves the strange connection between politics, energy, finance, and environment in the energy world.

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