Green energy within reach for many consumersPosted on Wednesday, May 09, 2012 at 4:31:31 PM
Homeowners, even those who live in states without energy deregulation, are likely able to afford solar power, according to a recent article from Travis Hoium on behalf of financial company The Motley Fool.
"Solar power is no longer something only wealthy, eco-conscious homeowners can afford," wrote Hoium. "It's now within reach for most electricity users in the U.S., and it may make financial sense for you to switch."
The costs of solar power have continued to drop, with both solar installations and the power created from the panels sometimes costing even less than other panels. Some solar panels are selling for as little as $1 per panel, and installation costs are just as reasonable.
According to the Solar Power Authority, solar panel-produced electricity costs an average of 10 cents per kilowatt-hour. However, electricity-sucking devices like hot tubs can produce occasional spikes in these estimates. These costs also vary dramatically depending on an individual's state of residence. According to The Motley Fool, solar projects in California are selling for as low as $0.089 per kilowatt-hour.