California Switching To Solar Energy
With soaring housing market, rising fuel costs and hikes in credit card rates and water prices, Californians are facing serious financial strain. To relieve the financial burden, many people in California are now turning to solar energy to cut down their energy bills. Besides, cutting down the electrical expenses, solar energy's Eco friendly attribute is also attracting many people. The rise in the demand of solar panels in California to incur the household energy requirements, proves the growing popularity of solar energy in the state. Solar energy is a hot topic in California. It is the most easily available renewable energy in the state, as California receives plenty of Sunlight throughout the year. Many analysts say that the the amount of solar energy received by the state in an hour is sufficient for furnishing its energy needs for the entire year. So, to clean up the major cities of the state from pollution of conventional fuels, and cut down their energy bills, solar panel engineers are being hired by several people in Las Angeles and San Diego to install solar panels on their houses. The rise in demand of solar panel has been boosted by the reduction in its prices of around 15% over the last three years, compared to more than 100% increase in the oil and gas prices.
But, despite the reduction in solar panel prices and advantages solar energy has over its conventional peers, one of the major issues that the home and business owners willing to install solar energy systems, is its high initial cost. The US government is fully aware that the growth in solar energy' popularity is very critical for reducing the country's energy dependence on the gulf countries. So, to encourage the people willing to switch to solar power, the US government is now offering loans, tax credits and incentives to solar panel buyers. Many banks have also started to offer financial assistance to the potential buyers in form of home improvement loans and mortgages for solar panels. Also, as per government schemes, the assertion of solar panels to a house adds to its net worth without increasing the property tax due on it. Other than these traditional steps taken by the Government and financial institution to promote the use of solar energy, even the Solar panel manufacturers are offering leases and power purchase agreement to their potential customers. The available solar lease financing plans in California allows a manufacturer to design, install and maintain a solar plant on a leased property, and the owner of the property pays the company in form of monthly bills. Power purchase agreements are also similar to the lease except that the property owner buys power produced from the installed solar energy plant on his property with no intention of owning the solar plant. With the soaring popularity of solar energy and the kind of financial support solar panel buyers are receiving from the Government, banks and solar panel manufacturers, the hopes of people switching to clean and environment friendly solar energy looks very bright.
With soaring housing market, rising fuel costs and hikes in credit card rates and water prices, Californians are facing serious financial st...