Solar energy: is it economical?

The answer to this isn’t a simple yes or no. The costs associated with installing a solar energy source, whether at home, for a business, or large plant, can be pricy, but the long term savings are substantial.

While the sun’s rays are a constant and renewable source of energy, the price of solar panels, modules and photovoltaic systems can range from a couple thousand dollars, to hundreds of thousands of dollars depending on the output levels a home, business or power plant requires. 

However, governments around the world have created various subsidies and tax incentives to encourage people to invest in solar sources to lower emissions. And, as new technologies emerge, the cost of installation and initial investment will likely allow solar to become more affordable.

While installation and initial investment may be somewhat high, in the long run solar energy is economical because its source is renewable, constant and a long term cost-effective option. 

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When a country lacks land mass, innovation and technology are being used to harness the incredible power of the sun.

Energy Matters

In the world's conversation about energy, one point is beyond debate: Energy makes a vital contribution to people's quality of life, to society and to human progress. This is true today, and it will remain true in the future. That's why Energy Matters was created. We believe it's important to equip people with unbiased information so they may form opinions, join the conversation and feel confidence in the work and accomplishments of the energy sector. Energy Matters is an initiative that provides transparent information and perspective on energy. Here, we'll cover a range of topics: the scale of global energy; the ways energy is sourced and produced; current energy technology; forthcoming innovations; the world's future energy needs; and the sustainable sources of energy that will fill them. Because energy matters to everyone, we hope you'll rely on Energy Matters as an ongoing source of balanced information.