Wind and solar energy are some of the best renewable energy alternatives we have today. The technology has progressed to the point where most people can install wind turbines or solar panels on their own property. The perfect investment is all about great energy production at low cost.
We’ve summarized all the reasons for you to invest in both solar and wind power. Take a look at both energy alternatives before you make the final decision:
Reasons to consider solar energy:
Research conducted by IRENA talks about the falling costs of renewable energy: The cost of solar photovoltaic electricity has fallen by 73% since 2010, and the cost of generating wind energy compared to coal power has dropped by 23%.
A solar panel is the best energy alternative if you factor in environmental concerns. Acid rain, urban smog, and pollution of any kind are a forgotten story with the help of solar power. Some compelling facts:
- A 1.5 kilowatt PV system will keep more than 110,000 pounds of carbon dioxide out of the atmosphere for the next 25 years.
- Your solar panels may outlive you. You can rely on them for 30 plus years.
- The average solar system generates a 2-3x return on investment over a 25-year period.
- According to the Department of Energy, homes with solar panels are much more likely to sell, and for higher - the average added home value is about $15,000.
Additionally, many solar customers across the world benefit from buyback schemes. A typical solar energy buyback scheme allows customers to sell off their excess electricity to the utility. This helps them reduce their power bill.
Solar panels are also modular. You can expand them over time.
Reasons to consider wind power:
The price of wind power has dropped by 15% between 2009 and 2017, which makes it an interesting choice. Like solar energy, the wind is unlimited, free, and relatively easy to harness via turbines.
If given serious thought, large-scale wind energy projects, such as wind farms, have the power to help liberate the US from dependence on fossil fuels. Wind is extremely eco-friendly and when placed in the right area, can generate a ton of energy.
However, for residential homeowners, wind turbines may not be the right choice. According to most zoning restrictions, they must be 30 ft above the treeline and placed far from any property line. Turbines are also expensive and dependent on consistently windy climates.
What’s the perfect alternative for you?
As compared to wind, solar energy is much easier for homeowners to get. Wind power requires zoning permits and additional land that many homeowners don’t have.
What is the perfect energy alternative for you? For most residential homeowners, rooftop solar panels are often the way to go. If you have a lot of land and cash to spend, wind turbines may be worth the investment. Take a look at all the perspectives before taking the final decision.