The Ultimate Guide For Investing In A Renewable Energy Electric System
The cost of installing a 100% clean and sustainable renewable power system has fallen drastically over the last 10 years.
Significant government-funded financial incentives coupled with tremendous strides in manufacturing technology have caused the price of renewable energy to drop to record lows especially for homeowners. The surprising thing is that there hasn`t been significant growth in the demand of renewables. Yes the media keeps on saying that more and more consumers are turning to solar and to wind energy, but the stark reality about the consumption lag is quite evident in real market figures. For instance, the U.S. Energy Information Administration reported that around 10% of all U.S. energy needs came from renewables. And don`t forget that this small fraction includes the total consumption of all those seemingly popular clean energy sources, namely solar, wind, biomass, hydroelectric, and geothermal. Consider this impressive team of all these heavyweight renewables earning such a partly fan base while a sole player like petroleum scores a whopping 37% or the 29% earned by natural gas. Such poor performance despite the high affordability of alternative energy plus the countless shortterm and long-term financial benefits that are associated with the industry. Even professional energy investors like America 2030 agree that something is off in this industry. And it might be lack of proper information and knowledge on the side of consumers. Some of them might not be aware just how simple it is to switch sides, forget pollution, and live a clean responsible life. Follow these four basic steps and you will be in renewables paradise in no time.
This is just the planning phase where you will need to make an accurate estimate of your household`s or business`s electricity consumption levels. This is a matter of calculation and you it is advisable that you hire a professional energy auditor or expert like America2030 to help you do the math. The number of appliances, their wattage, hours of usage and such other specific details will all be factored into your calculations. Energy efficiency tactics and measures of reducing power consumption will help you create a more realistic and improved estimate. These financial figures will help you determine the size of the system you will need. You will even be able to figure out the cost of a befitting system, which will also help you settle on the most favorable sources of renewable energy financing for your project.
The next vital consideration is about all the required legal, community, and regulatory fulfillments and compliances. Starting at the national and federal government level continuing to the state regulatory boards down to the local community agreements and ordinances, you will be faced with all kinds of compliance demands. Conduct a thorough research regarding local building codes & and easements, any technological specifications and/or controls. On the financial side, you need to find out if there are any financial rebates in your locality and how much they will save you.
After sorting all these conformity issues, now it`s time for the biggest step in the project. You have to choose the kind of alternative energy you want. And there are quite a bunch of options. The decision will be based on several important factors like the availability and cost of the system. You must also consider the source of the money, whether you have enough savings or if you can secure a nice loan deal from a recommendable financial company like America 2030. There are other arrangements like power purchase agreements (PPAs), leases, and communal ownership for some technologies like solar. The logistical and infrastructural requirements plus the installation and maintenance needs are all crucial considerations. Not to forget full adherence with the compliance codes and regulations mentioned above. And remember that you must always consider the adequacy or efficiency of any renewable technological choice with relation to your power needs as per the energy audit you conducted earlier. This will inform your decision as to whether you need a small or utility system, whether it should be solar or wind, or even a hybrid electric system, which combines two or more of these renewables. On the same agenda of choosing the right clean energy for your home or business, you have to define the nature of setup. Will it be a standalone system or will you connect to the grid. It`s advisable to go with the latter because then you will have backup power in case of shortages. Plus some states have introduced fantastic programs where you can sell back excess alternative energy to the grid.