In spite of the current hype about solar energy technology in the US in last few years, this technology has been around for many years. Its applications in aerospace science and the military have proven to be pretty worthwhile and useful. Also, due to the high cost of energy in Japan and some European countries, solar energy technology has been used in commercial and residential buildings for over a decade. In actual fact, their visionary governments have had a long-term commitment in subsidizing solar/wind technologies and providing suitable incentives to justify its cost.
There are many short-term and long-term benefits resulting from installing solar panels for homes and businesses. Solar energy is a great way to utilize the free energy Mother Nature offers and there are many positives results by utilizing solar energy, both for personal advantage and also for the good of humanity. Solar energy will also help lessen consumption of traditional fossil fuels and will have a positive effect on the environment.
Many benefits come hand and hand with a switch to solar energy. Most importantly taking into consideration the current exasperated prices paid for fossil fuels, the money saved on monthly energy bills is an instant benefit. On average the cost of utilities in the last 30 years have been increasing almost 7% per year and a projected increase of 10% yearly for coming years may not be too far off. By installing solar panels for residential homes and commercial businesses, consumers will cut their utility rates extremely and also truncate any further increase in prices for utilities, meaning more money can be saved. Because solar panels are extremely durable products that require minimal maintenance and are backed by 25-year manufacture warranty, the long-term fiscal benefits are equally impressive.