Solar energy adoption is on the rise, and public policy has been a key factor in spurring growth in the solar energy sector. In order to keep developing smart public policy, many “value-of-solar” studies have been conducted in an attempt to quantify the monetary value of the benefits (and costs) derived from adding solar to the electric grid. Many studies are sponsored by utilities to support changes in rate structure and often do not account for societal benefits. Consequently, “the narrow scope of those studies leads to undervaluing solar energy and, in turn, justifies policies and electricity rate structures that make it harder to embrace this renewable resource” (Searson, 2019). In fact, the full range of benefits from solar go far beyond the electric grid, and it is crucial that these types of studies account for the full value of solar energy, including societal benefits to the environment and public health, to best serve the public interest (Environment America).

The replacement of the roof system can be one of the largest expenditures for a building owner during the life cycle of the building. In fact, given the significant costs associated with roof replacement, many companies delay or shy away from roof solar projects because of this. However, if it’s determined that your roof should be replaced prior to going solar, it’s a smart move to consider moving forward with both projects, as solar can actually reduce the budget impact from roof replacement.

Image sourced from: extremetech.com

Your home windows or electric car windows, or simply your smartphone, could easily turn into power generators thanks to transparent solar cells. At Ubiquitous Energy, MIT startup co-founded by researchers Barr, Lunt, Bulović, and Bart, they are continuing development work to optimize their transparent PVs. These new solar cells selectively absorb only infrared and ultraviolet light, which are invisible to the eye, while “visible light passes through the cells unimpeded, so our eyes don’t know they’re there” (Stauffer).

Since 2006, the market for solar has been driven by government subsidies, most significantly by the solar Investment Tax Credit (ITC). The ITC is a 30% tax credit for solar systems on residential and commercial properties – the credit can be applied to personal income taxes. Since the ITC's enactment, the solar industry has grown by over 10,000%, hundreds of thousands of jobs have been created, and billions of dollars have been invested in the U.S. economy in the process. In 2015, the ITC was extended for a few additional years under the basis that it provides critical stability for businesses and investors.

Image sourced from: News.abs-cbn.com 

Savvy companies across the US are increasingly moving towards solar energy because it’s cost effective and good for the environment. While investing in solar is a smart investment for any commercial building, it could be the single best investment that a shopping mall owner will ever make, especially with the latest consumer trends favoring online shopping. It is known that, as more and more shoppers go digital, sales at physical stores are declining and many big retail chains have been closing their department stores. As shopping mall landlords are scrambling to figure out ways to keep business flowing, now is the time to switch solar, and here is why.

Solar technology, also known as photovoltaic (PV) technology, was first developed in 1839 during the Industrial Revolution when French physicist Alexandre Edmond Becquerellar discovered the ability of a solar cell to convert sunlight into electricity. Then, in 1883, Charles Fritts, an American inventor, created the world’s first rooftop solar array in New York.