4 Solar Panel Facts That Will Blow Your Mind
Sunrun Team· 3
Solar Panels Go Mainstream
Before solar technology went mainstream (that’s right, we were into solar before it was cool), there was a period of time where the notion of powering your house by sunlight was looked upon as wizardry.
However, thanks to the recent growth of the solar industry and resulting drop in prices, panels are fastly becoming the norm and not the exception. And while we’re certainly not complaining, this familiarity does mean solar has lost a little bit of its mystique.
But for anyone thinking they’ve heard all there is to hear about solar, we’re here to say, “nuh uh.” So strap in and buckle up because these four solar panel facts might just blow your mind.
Fact: The solar industry is growing so rapidly that it’s eclipsing growth in more traditional industries
In the last decade, solar has experienced an average annual growth rate of 68%.1 That’s more growth than the banking and healthcare industries, combined.2
If that hasn’t blown your mind, then try this on for size. As a result of all that growth, consumers have been enjoying tremendous cost savings when it comes to purchasing solar panels. In just the last seven years alone, the cost to install solar has dropped by more than 70%.2 Pretty impressive, no?
Fact: Speaking of eclipses, the elements that make up your solar panels were once part of a star themselves
Whoa man, that’s trippy. But the fact is, all heavy elements (everything heavier than hydrogen and helium) are a result of the fusion process that occurs at every star’s core. I guess you could say solar power is...out of this world. (This is a quality dad joke and we stand by it).
Fact: Adding solar panels to your home can increase your property value more than a complete kitchen remodel.
Aside from all the great environmental benefits of going solar, there’s also a very real monetary incentive to do so. Installing 5kW of solar panels can increase the value of your home by up to $29,555 or more, depending on solar panel production.3
Meanwhile, according to the folks over at HGTV, a $15,000 kitchen renovation is likely to return 92.9 percent of the cost at resale, for a total of $28,935.4
And this doesn’t even begin to account for the savings you’ll likely receive on your monthly electricity bill. With Sunrun take control of your electric bill—and receive tens of thousands in savings over the life time of your solar system.†
Fact: It’s entirely possible to go solar without paying a single dollar down.
With solar costs as low as they are now, coupled with the productivity of today’s modern high efficiency solar panels, many solar installers will help you go solar with little to no down payment required.
For example, at Sunrun, our BrightSave™ Monthly plan makes going solar as easy as it gets. You can get started for little to $0 down, and you simply pay a low monthly rate for the solar power your system produces. It’s no wonder it’s our most popular solar energy plan.
Find out how much you could save, today.
† Estimated savings based on a projected annual utility rate increase of 3.16% over the life of the system. Actual savings will vary. Savings depends on several factors, including product type, system production, geography, weather, shade, electricity usage, full utilization of the 30% solar Investment Tax Credit by the system owner, and utility rate structures and rate increases. Analysis based on customers who enrolled with Sunrun between October 15, 2014 and October 15, 2015.
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