Solar energy is becoming increasingly widespread as the world works to move away from fossil fuels. Solar is the cleanest and most abundant renewable energy source available, with more energy from the Sun hitting the Earth in just one hour than is used by everyone in the world for an entire year. Over the last decade, the solar market has grown at a rate of 33% each year, with more than 130 GW of solar panels having been installed in the US, enough to power 23 million households. Some of the main reasons industries, businesses, and homeowners are switching to solar include diversifying their energy sources, improving their efficiency, and saving money. It is important to understand the fundamentals of solar so you can feel empowered to join the renewable energy movement.
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Disaster resilience is becoming increasingly important in the face of climate change. Thankfully, solar can help increase disaster resilience for both individual businesses and the grid as a whole, providing a solution in the event of a disaster.
When installing a solar array, it is important to keep in mind that, while solar panels are relatively low-maintenance and can be successfully installed anywhere on the planet, there are several conditions that must be met in order to ensure their continued efficiency. To maximize efficiency and return on investment, your panels should be cleaned on a regular basis, exposed to direct sunlight, kept cool, and oriented in the correct direction for your energy needs. Additionally, many arrays will benefit from the installation of an energy storage system. Fortunately, SolBid can help you maximize efficiency and eliminate the headache associated with system maintenance and monitoring.
The passing of the Inflation Reduction Act (IRA) is a monumental step in the right direction for the future of renewable energy, and will be essential in encouraging more people to go solar. One of the most important ways it will be able to accomplish this is through the newly available renewable energy Investment Tax Credits (ITCs). ITCs are federal tax incentives that allow both individuals and businesses to deduct a percentage of the cost of installing their solar energy systems from their taxes. The base ITC defined in the IRA is 30%, but certain facilities may be eligible for adder credits that can not only raise but double this number! Keep reading for a breakdown of these credits, and find out which ones are applicable to you and your business.