Now that electric vehicles are starting to become popular, it’s clear that cars will eventually be powered by solar energy rather than gas or diesel. It’s still not clear when this will happen, but if you want to get in on the ground floor of an industry that may be booming in a few years, then you should definitely consider investing in solar energy now while the stock prices are still low and any profit margins wide open. This article will tell you why solar energy could be the next big thing and how you can tap into it without getting your fingers burned.
How does solar energy work?
In short, solar energy works by harvesting the sun’s rays and transforming them into usable electricity. The light hitting a solar panel is made up of photons—these particles of light contain energy that can be used to make electricity. These photons knock electrons loose from their atoms and leave them free to do something useful, like turn on your lights or charge your phone. When you install a rooftop solar system, you have to pay for installation and maintain it for about 20 years. A utility-scale solar array has a contract with a utility company (or sells power directly to customers) where they buy back excess power at an agreed-upon rate that covers production costs.
There’s a lot of work involved before deciding to go with solar, including installing panels and connecting them to a regulator. However, once that process is complete there are no ongoing costs associated with using solar energy.
After a certain period of time, you start saving money and end up using fewer utilities than when you started. Over time your bill will get smaller while your bank account gets bigger because all that extra power goes toward paying off an investment. Bottom line: It’s expensive upfront but profitable later. In fact, experts estimate that every two years solar power becomes cheaper than fossil fuels. If you choose to install solar panels, you might eventually see them completely pay for themselves through savings on electricity bills while also reducing pollution in your area.
Solar energy helps cut down on your energy costs
The cost of energy for electric vehicles is significantly higher than other types of automobiles. Luckily, solar energy can cut down on your electricity costs so you don’t have to break the bank just to fuel up your car! It’s true that it might take a while for your solar panels to pay off, but they will still eventually save you money on electricity. In Ireland, grants for solar panels up to €3000 are available, so take advantage of these programs if you plan on purchasing and installing the system. The grant is towards paying off the cost of buying or installing solar photovoltaic (PV) systems and battery energy storage systems. Also, be sure to check with your local utility company; some utilities offer special discounts and rebates for individuals who install their own home-based solar energy system. This can help you save a lot of money!
Additionally, by buying solar panels now, many people believe they will save money in five years or so because their systems will be producing more energy at cheaper prices. Installing an array of solar panels allows you to sell excess electricity back to your local power company; however, if all goes well, it should take only about 10 years for those who install solar systems on their homes and businesses to break even financially.
Solar panels have low maintenance
Compared to other forms of energy, solar panels are low maintenance. There’s no oil to buy or engine to maintain when you have solar panels installed on your property. To keep your solar energy system up and running, you just need to keep it clean and replace damaged panels from time to time. This means that a home with solar panels can be less expensive than a traditional home in both short-term and long-term costs. It’s possible for most homeowners with solar panels on their roofs to get back their investment over time because they pay lower utility bills compared to their neighbors. And as technology improves, solar power is becoming even more efficient.
Reduce your carbon footprint with solar energy
By converting to solar power, you can reduce your carbon footprint by as much as 75 per cent. According to SEAI, using renewable energy for heat, electricity and transport reduced emissions by 6.6 million tonnes CO2 (MtCO2) in 2020. This is more than the CO2 emissions of all private cars (1.4 million) on the road. With more electric vehicles on our roads and rising demand for other forms of renewable energy, traditional coal and oil sources are becoming insufficient—the time has come to look into clean alternatives like solar. If you have any questions about how to invest in solar panels, don’t hesitate to reach out! Call us today!
Fuel your electric cars with solar energy
As more and more countries commit to phasing out fossil fuels, solar energy is gaining momentum as a low-carbon way to fuel everything from cars to skyscrapers. The global demand for electricity is growing fast—by 2050 it’s projected to grow 80 per cent—and renewable energy, including wind and solar power, can help meet that need while cutting carbon emissions significantly. Ireland expects there will be 936,000 electric vehicles on Irish roads by 2030, and it has big implications for clean energy. According to a recent analysis from EirGrid, renewable generation accounted for 43% of Irish electricity consumption in 2020.