A new study released Tuesday by the NC Clean Energy Technology Center shows that investing in a 5 kilowatt solar system can yield a better return than investing in a stock market index fund in 46 of America’s 50 largest cities.
For the author’s of the report, one of their primary goals was to show that “solar is now not just an option for the rich, but a real opportunity for anyone looking to take greater control over their monthly utility bills and make a long-term, relatively low-risk investment.”
“This study proves once again that solar makes great financial sense for a large number of Americans,” said Rhone Resch, president and CEO of the Solar Energy Industries Association (SEIA). “Every 3 minutes of every single day, the U.S. solar industry is flipping the switch on another completed solar project, benefitting homeowners and businesses nationwide.”
In fact, according to recent numbers provided by GTM Research, a new solar PV system is installed in the US every two-and-a-half minutes.
Major policies such as the Solar Investment Tax Credit (ITC), Net Energy Metering (NEM), and the Renewable Portfolio Standards (RPS) play a large part in the success of the solar industry. According to the SEIA, the US solar industry is employing over 143,000 people, and is pumping more than $15 billion into the US economy — always an important figure.
“By any measurement, these policies are paying huge dividends for both the economy and our environment,” Resch added.