The solar process can be confusing. Gathering the necessary information for your decision can be frustrating – and contradictory. We can’t attest to what others might tell you, but here are the facts – with independent sources to back them up.
Solar Basics
- More than 3.3 million homes in the US have solar installed. (As of March 2022)1
- The price of solar has fallen over 80% since 2010.2
- Only 20% of US households can qualify for solar.3
- 40% of total U.S. electricity could be supplied by solar on rooftops alone.4
- In the United States, southern facing solar panels perform best.12
- Powur Solar is one of the top 100 fastest growing companies in the US.19
Solar Savings
- There is no cost to you until you start generating your own power.20
- The typical American family spends $1,335 annually on electricity.7
- The costs for electricity in the US have, on average, risen 2.2% annually since 2008.8
- Customers of Dominion Energy Virginia can expect their bills to increase by an average of about 3% annually over the next 10 years.9
- Dominion Energy projects it will require an investment of $81 billion by 2045 to comply with the Virginia Clean Economy Act.10
- The Federal government offers a 22% tax credit on all solar related installation expenses in 2021.11
- Dominion Energy is required by law to buy your overproduction.18
- Carbon Credits (officially Solar Renewable Energy Certificates (SRECs)) can earn you hundreds or thousands of dollars a year.21
Your Solar System
- Each home that goes solar, reduces the burning of over 8,000 pounds of coal in a year, eliminating 12,500 pounds of carbon dioxide.5
- Homes with solar panels installed sell for approximately 4.1% more than homes without solar.6
- Solar panels have no moving parts and require virtually no maintenance.13
- Solar panels carry a standard 25-year warranty but can last up to 40 years.14
- A home with solar panels reduces its 30-year carbon footprint by 100 tons.15
- Installed solar panels shade your roof and reduce the temperature in your attic by 35%.16
- Solar panels generate energy even on cloudy days.17
- https://www.seia.org/news/united-states-surpasses-2-million-solar-installations
- https://solstice.us/solstice-blog/solar-energy-statistics/
- https://solstice.us/solstice-blog/why-americans-cant-access-rooftop-solar/
- https://www.nature.com/scitable/blog/eyes-on-environment/the_power_of_rooftop_solar/
- https://solstice.us/solstice-blog/solar-energy-statistics/
- https://www.zillow.com/research/solar-panels-house-sell-more-23798/
- https://www.axionpower.com/knowledge/solar-facts/
- https://www.eia.gov/
- https://www.cfact.org/2020/05/23/dominion-energy-proposes-40-rate-hike-in-virginia-to-pay-for-net-zero-carbon/
- https://www.dailypress.com/business/dp-nw-dominion-irp-20200502-cw745cokzvae3dutvjwtpdkzjm-story.html
- https://www.energy.gov/sites/prod/files/2020/01/f70/Guide%20to%20Federal%20Tax%20Credit%20for%20Residential%20Solar%20PV.pdf
- https://www.greenmatch.co.uk/solar-energy/solar-panels/solar-panel-facts
- https://www.greenmatch.co.uk/solar-energy/solar-panels/solar-panel-facts
- https://www.fool.com/investing/2017/11/26/10-facts-about-solar-energy-that-might-surprise-yo.aspx
- https://www.solarpowerauthority.com/50-facts-about-solar-power/
- https://phys.org/news/2011-07-solar-panels-cool.html
- https://us.sunpower.com/blog/2019/05/09/how-solar-panels-work-cloudy-days
- https://www.dominionenergy.com/virginia/renewable-energy-programs/net-metering
- https://www.prweb.com/releases/for_the_2nd_time_powur_pbc_appears_on_the_inc_5000_ranking_no_61_with_three_year_revenue_growth_of_5_890_percent/prweb18135718.htm
- https://www.sunrun.com/solar-plans-and-services
- https://www.srectrade.com/blog/srec-markets/virginia-srec-market-update