The Future of Solar Power is Bright

Adapting Oil and Gas Companies

Many recent studies and reports have pointed to the continued rise in popularity in the future of solar power. A report called Energy Goes Green interviewed 100 CFOs of oil and gas companies and found that 38% of these CFOs believe that solar power will be the leading alternative energy source by 2023. The report demonstrated that these CFOs recognize solar energy as an important opportunity for their business. Solar is not only cheaper than traditional oil or gas, but it is also easier to generate solar energy once the infrastructure is built. Additionally, because of increased demand and better technology, the cost of installing solar power systems has decreased. For these reasons, many of these energy companies plan on implementing solar power as a part of their business.

However, these companies aren’t planning to switch to 100% renewables anytime soon. They face many roadblocks. For example building new infrastructure is expensive. Also, there are currently high tariffs on imported materials used to build solar panels. But, these CFOs do recognize that consumer demand and new technology will continue to lower the cost of solar energy, and they are willing to adapt to renewable energy sources as long as they stay in demand and the prices stay low. This is a big step, considering that these companies are currently 100% focused on fossil fuels.

Energy Consumption Mix

More evidence of the future of energy prices is outlined by a study reported in the Joule Journal. This study found that increasing the US energy bundle to 90% renewables by 2050 would be cheaper than keeping energy consumption as it is. Currently, the average cost of electricity in the US is 13 cents per kilowatt hour. This rate is even higher in Massachusetts and Rhode Island (21 cents and 18.6 cents respectively). The new energy bundle that is 90% renewable would cost about 3.6 cents per kilowatt hour.

Current Energy Demand

Currently, the demand for renewable energy is continuing to grow as fossil fuel consumption falls in the United States. According to the latest EIA report, this April renewable energy provided 25.7% of the total electricity produced in the US. As of this April, fossil fuels contributed a smaller percentage of total electricity than renewable energy, contributing only 22% compared to 25.7% from renewables.

So, the future is bright for solar! Evidence shows that renewable energy consumption is rising, and prices are falling as compared to fossil-fueled powered energy. Even large oil and gas companies recognize this trend as a business opportunity. So, now is a great time to make the investment in solar panels to continue the energy transition!

 

Peer Pressure for Solar Panels

What is the largest indicator that a given house will have solar panels?  It is not what you may think! According a study done by the Potsdam Institute for Climate Impact Research, geographical distance from a house with solar panels is the largest indicator of if a given house will have solar panels. This means […]

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Benefits of Solar Power on the Environment

We all know that solar power is clean and environmentally friendly. But how exactly do your solar panels help the earth? Here are six ways that solar energy benefits the environment:

1. Solar panels do not emit any carbon dioxide while producing energy

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Rhode Island Renews Funding for Solar Farms on Brownfields

Good News For Rhode Island Solar! 

This week has brought some good news for Rhode Island solar: The Rhode Island Commerce’s Renewable Energy Fund has renewed its funding incentives for solar projects on brownfields. Brownfields are contaminated or polluted sites. They are often old industrial parks or commercial areas. This incentive funds solar developers and encourages them to build solar farms on brownfields. The state allocated another $1 million to the initiative because it saw so much success in 2019 and 2020.

It can take a lot of time and resources to decontaminate a brownfield and make it safe enough to be redeveloped. So, turning brownfields into solar farms is a safe and effective use of this contaminated land. Additionally, since Rhode Island is such a small state, using brownfields are a perfect way to install more solar power without cutting down trees or damaging any other environments. This initiative will help Rhode Island reach its goal of reaching net zero by 2050!

 

How Does Warm Weather Affect Solar Panels?

As the weather heats up, here are some things to keep in mind about your solar panels.

Many customers worry about their panels losing efficiency in the heat. While it is true that heat affects solar panels, they don’t tend to lose efficiency until it gets above 77 °F. Solar panels have a temperature coefficient, which tells you how much efficiency decreases due to a one degree increase in temperature from the optimum temperature (77 °F). These coefficients tend to be small. For example, the coefficient of SunPower solar panels, which we often use at SGE, is -0.29%. This means that at 80 degrees, the efficiency of the solar panel only decreases by a little under 1%.

Additionally, solar panels actually keep roofs cooler. They absorb heat from the air and can make a roof up to 5 degrees cooler. The maximum temperature that many solar panels can withstand is 185°F, so there is no need to worry about them even on an extremely hot day.

At SGE, when we install solar panels, we leave some space between the panels and the roof. This allows for some airflow and keeps the panels cooler to decrease inefficiency. 

So, as long as you don’t touch solar panels on a hot day (they are very hot to the touch), there is no need to worry about your panels as summer approaches. In fact, you might even find your house and roof to be a bit cooler because of them!

Why you should make the investment in solar today

Massachusetts and Rhode Island currently hosts a variety of solar incentives for homeowners to reduce the cost of buying and installing your own solar panels. These include:

  • Net metering: which gives energy credits back to homeowners when their solar systems are producing more energy than they use in a given day. For example, solar panels often produce the most electricity in the afternoon when energy consumption is low, so net metering allows utility companies to use this energy while it is being produced, then give customers an energy credit back at the going rate that they can use while their panels are not producing. It’s essentially using the grid as a battery. 
  • SMART Solar Incentive (Massachusetts): The SMART program pays customers back a fixed rate per kilowatt hour.
  • Growth Solar Incentive (Rhode Island): The Growth (REG) Program pays customers a fixed rate at 29.6 per kWh for 15 years!
  • 26% Tax Credit: The ITC Federal tax credit was extended (two-years). The ITC for solar customers was originally scheduled to drop from 26% in 2020 to 22% in 2021 and then phase out all together after 2022. But with the recent extension, you can get a full 26% rebate back on the total cost of the system! Make sure to start the process before time runs out and schedule gets full.

Here’s other reasons to go solar for your home:

  • Drastically reduce or even eliminate your electric bills
  • Earn a great return on your investment
  • Protect against rising energy costs
  • Increase your property value
  • Boost U.S. energy independence
  • Create jobs and help your local economy
  • Protect the environment

Federal Tax Credit for 2020 and 2021

Did you know the Federal Investment Tax Credit is Phasing out! This is the most significant financial benefit for going solar. As a turn-key installer, Second Generation Energy will manage the process of getting your solar system installed so you can take full advantage of the 26% Federal Tax Credit WHILE YOU CAN.

Schedule your no cost consultation to see how much you can save by emailing sales@sgegroup.com or calling 508-377-4037.

The federal solar tax credit, also known as the investment tax credit (ITC), allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes. The ITC applies to both residential and commercial systems, and there is no cap on it’s value.

Here’s other reasons to go solar for your home:

  • Drastically reduce or even eliminate your electric bills
  • Earn a great return on your investment
  • Protect against rising energy costs
  • Increase your property value
  • Boost U.S. energy independence
  • Create jobs and help your local economy
  • Protect the environment

Snow and Your Solar Panels

We are looking forward to some good old fashioned snow BUT…we wanted to post a quick reminder about snow and your solar system.

  • Snow can pile up and then slide forcefully off of your modules
  • Refrain from parking under panels that are likely to dump snow
  • Don’t play under panels that have snow which can slide

We advise against getting up on your roof to remove snow off your panels. The panels gather enough sun to eventually melt the snow, which will slide off the glass surface. Using a rake or shovel up on the roof could harm the panels. Please remember the panel warranty doesn’t cover damage caused by the homeowner. Plus, getting on a snowy roof would risk you getting hurt, which nobody wants!

Snow Guards

SnowGuards snow management systems are important for any low-friction, sloped roof. Snow and ice can avalanche off a low-friction, sloped roof and pose a hazard to people and property below.

Our SnowGuards products hold the snow and ice in position on the roof, allowing it to melt and shed gradually, instead of all at once.

Contact us today for a quote!

Why you should add solar to your rooftop today!

More people are deciding to go solar every year. Going solar will reduce or eliminate your electric bill, earn a good return for your investment, increase your property value, protect against rising energy costs, and protect the environment by cutting your consumption of non-renewable energy.

Sometimes people hold back from going solar if they are considering moving out of their home because they will not see the return savings in energy and already paid more money upfront for their system. Over the longer amount of time you own your home, the money you save on your energy bill should equate to 2-3 times the cost of your solar investment, so giving your systems a number of years to catch up is needed to benefit financially from rooftop solar.

But, even if you do not own your home  for as long as needed to break even on energy costs, you can bill a premium on your home to cover the cost of your investment and allow the next owners to benefit from solar. Yes, going solar increases your home’s property value! That amount varies between properties, but a recent study by the Lawrence Berkeley National Laboratory (LBNL) found that solar panels increase household value by $14,329 on average in California. In 2015, the LBNL found that many home buyers are willing to pay premiums for PV-installed homes. Ben Hoen from LBNL found that there was a strong correlation between the size of the PV solar system installed and the selling price of homes in his research project, based in California. He found an increase in the valuation of the properties in his project by an average of $4.18/w. This equates to an average if $15,000 increase for the typical 3.6-kW-sized system in his project. These numbers are for the average non-PV home value of $456,378. He found similar relationships in the rest of the US.

Additionally, a new study by the Redfin, a national reality company, noted that in the Northeast home prices can increase even more, with a median sale price being $42,000 higher than the average sale price in Worcester, or even a boost of$ 179,000 in Boston. These are higher than the average solar system price in New England. The 10 cities with the most untapped solar potential include Providence, RI, Worcester, and Boston, MA, according to the PV Magazine, and in these cities, we see a substantial potential increase in home value with working solar systems in place.

So, luckily working to get solar installed on your home is probably still the right decision if you are having doubts about how long you will be owning your home or cannot predict your future housing scenario. Taking direction action on this issue  and reaching out to Second Generation Energy with questions can help you figure  out how many watts you would like installed, where on your property to install, and other details of the design that can change your property value for a long time. Additionally, referring solar energy to a friend and having them install solar will earn you an extra $500 dollars! Stop by to chat or call today.

Changing Energy Economy

More people are deciding to go solar every year. Going solar will reduce or eliminate your electric bill, earn a good return for your investment, increase your property value, protect against rising energy costs, and protect the environment by cutting your consumption of non-renewable energy.

As the demand for solar and other types of clean energy jobs increases all over the country, blue-collar jobs in the field are booming. Forbes magazine states that over time it will become less expensive to build new renewable energy than run existing coal plants without. The construction and operation of new renewable energy plants that replace coal is the newest progressive transition in the energy economy today. The U.S. Bureau of Labor Statistics forecasts that the two fastest growing in 2026 will be solar installer and wind technician.  The increase in green jobs is happening in both red and blue states. The American Wind  and Energy Association posted a map (https://thumbor.forbes.com/thumbor/960×0/https%3A%2F%2Fblogs-images.forbes.com%2Fenergyinnovation%2Ffiles%2F2019%2F04%2FCongressional-District-wind-industry-footprint-1200×932.jpg) of congressional districts with online wind projects and wind-related manufacturing facilities.

Coal jobs however are in a general decline from 86,000 in 2009 to 52,000 in 2018 (with small 2,000 increase due to President Trump’s efforts between 2017-2018). This changing market economy has led to dozens of coal plant closures in 2017, with a 4% drop in coal consumption in 2018 and 8.4% drop in consumption in 2019. Many areas int he US see a general decline in cost of renewable energy, though in some areas the cost of it might not yet be below coal. VCE Energy Innovation produced a map (https://blogs-images.forbes.com/energyinnovation/files/2019/04/Coal-MCOE.gif?) forecasting this disparity visually for wind and solar systems. It shows that these systems may be cheaper than coal energy more-so in the eastern half of the country and in south-western states, with some difference in the center of the nation as well. This may be due to more sunlight exposure and wind energy capacity in these areas. In places with still a higher forecasted cost of renewable energy than coal we know coal is a major industry, like near the Mexican Gulf and in the north-west. This map is not necessarily complete and still misses detail, but it could indicate further geographical disparities in production of wind and solar energy by 2025.

According to Brookings Institution research, clean energy jobs are commonly available to people without college degrees, like 45% of all workers in the clean energy production industry doing electrical work, installation, repair, and plant powering. The institute took Occupational Employment Statistics data in 2016 to show that the mean hourly wage in the clean energy jobs market in higher than the national average mean hourly income by about 8%-19%.

We are excited to anticipate more people going solar to reduce their carbon footprint and save money! Request quote or send a referral today to Second Generation Energy and get started on adding solar panels to your home or business. We will help you achieve your specific goals every step of the way and are happy to help.