As a renewable energy source, solar power is far better for the environment than many traditional energy sources. They protect animal habitats and ecosystems, and they don’t release pollutants like coal plants, and other types of power plants do. With many people attempting to minimize their carbon footprint, solar power has become quite popular in recent years. But how does it impact the economy? Solar energy can actually be just as beneficial to the country’s economy as it can be for the environment. Keep reading to find out how.
Lower Utility Bills
Of course, you already know that having solar panels will reduce your monthly power bills. (That’s likely one of the main reasons you’re considering it.) But how does a smaller bill for you benefit the economy? It comes down to your increased spending money.
One of the best ways to grow an economy is to put more money into it. That’s why, when the economy struggled amid the COVID-19 pandemic, the government provided stimulus funds to almost every American. Not only did it provide relief for those struggling to make ends meet, but it gave all Americans more funds to spend and give the economy the boost it needed.
When your monthly expenses are consistently lower, you’re more likely to treat yourself to that night out or that outfit you’ve been eyeing. And that’s good for the economy.
Creating Jobs
Some people may claim that the solar power industry will eliminate jobs by eliminating the need for more outdated power sources. While this is true in its most basic sense, this perspective neglects the jobs that solar power creates. As reliance on coal and other nonrenewable energy sources decreases, the number of jobs in those industries will decline. But the number of jobs within the solar power industry will increase just as quickly.
In fact, because solar power relies on independent manufacturers and distributors, it can create more jobs than it eliminates. Between 2016 and 2026, the number of solar installer jobs is projected to increase by 105.3%, making it the fastest-growing occupation in the country. And the solar industry employs ten times the number of people per megawatt-hour compared to the overall energy grid today. This means that the country will need more workers to create the same amount of energy, and more jobs are always good for the economy.
Solar energy is a win-win solution for the environment and the economy alike. And it’s a win for you, too. You’ll get more power for less money after your upfront investment into the panels, grid-tie inverter, and other essential equipment for your system. There’s no reason to wait any longer to switch to solar.
