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Solar Economics

In the U.S. conventional electricity costs about 10 cents per kilowatt-hour compared to 20-30 cents for solar electricity.  However the cost of conventional electricity is expected to rise dramatically in the next 20 years to as high as 50 cents per kilowatt-hour in some areas.  Retail electricity has increased more than 30 percent since 1999.  The cost of solar electricity will continue to decrease with advancements in efficiency and increased productivity as manufacturing increases.  In the interim government incentives offset a large percentage of the initial investment to make installing a solar energy system more economical. 


Solar energy also helps reduce the hidden costs associated with fossil fuels.  Nearly 60 percent of the oil consumed in the U.S. is imported from foreign countries.  Solar energy is a clean and renewable resource.  Burning fossil fuels pollutes the air, soil, and water.  Oil spills are a constant threat to wildlife habitat and greenhouse gasses are changing Earth's climate. 

08/30/2010