- The most accessible energy source on earth is solar electricity.
The total annual energy consumption of everyone on the globe is equivalent to the amounat of potential solar energy that falls on the surface of the Earth in a single hour. The globe can generate as much energy as is used by coal, oil, and natural gas combined in just 20 days (about three weeks) of sunlight.
- The most rapidly growing energy source is solar electricity.
Early in 2019, there were more than 2 million solar system installations in the US. Having taken 40 years to accomplish, the industry’s one-millionth installation was achieved just three years prior to this milestone. The solar sector is anticipated to reach 4 million installations in 2023, making it the energy source with the fastest rate of expansion worldwide.
- Solar energy is the most affordable energy source available.
Since 2008, the price of solar panels has decreased by 80%. The price of developing and installing new solar power generating fell to $1.65 per watt in December 2016, narrowly edging out its renewable counterpart, wind ($1.66/Watt) and its rivals that use fossil fuels.
- Solar power has existed since 1839.
Alexandre Edmond Becquerel discovered the photovoltaic effect, or the capacity to generate an electric current from solar radiation, in 1839. The first solar panel cell was later created by Russell Ohl in 1941, and Bell Laboratories released the first commercial panel in 1954.
- Solar panels now have higher efficiency than ever.
The National Renewable Energy Laboratory estimates that between 15% and 20% of solar panels sold in 2020 will have efficiency (NREL). The initial silicon solar panels had an efficiency of only 6%.
- The most effective solar panels are made of monocrystalline silicon.
Monocrystalline solar panels are made from a single silicon crystal. They have an efficiency that is around 5% higher than polycrystalline panels. Usually, additional costs accompany this higher efficiency. However, MOXIE can sell monocrystalline panels for about the same price as polycrystalline ones, thanks to bulk purchase discounts.
- Solar power systems may generate electricity without direct sunshine.
Even if the sun is not shining directly on the panels or if it is cloudy outside, the solar panel cells are still able to catch and use the colours reflected in the sky to generate electricity. However, the placement of your solar panels is important, and before installation, you should consider any potential shade from nearby trees and structures.
- Solar energy can supply all a home’s needs.
Many solar panel systems on the market today are created to match your daily energy needs, including those of air conditioners and other large appliances. For grid-tied systems, net metering ensures you always have access to the energy you require. Additionally, you can upgrade your system with an energy storage battery to have a solar energy supply for your own private backup needs.
- In less than ten years, most homeowners reach the break-even point.
The break-even point often called the “solar payoff phase,” is significant. With your energy savings, you can offset the cost of your solar energy system. Your exact break-even point depends on many things, but given that most solar panels have a 25-year warranty, it is a secure investment.
- Solar panels do not have to be purchased outright.
You can still take advantage of this wise investment even if you are unable to pay the whole cost of installing a solar panel system alone. To offer low-interest solar panel financing for any budget, MOXIE collaborates with leading banks and lenders.