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How Does Solar Benefit the Economy?

5 Ways That Solar Energy Benefits The Economy

February 23, 2021

Okay, we know that solar energy brings numerous benefits for residential and commercial property owners, such as net metering, energy control, energy storage, and many more. Also, there’s the ever-present benefit of protecting our environment via clean, renewable, and sustainable energy production and usage.

In today’s solar-powered blog, let’s take a quick look at how solar energy benefits our local, state, and national economies. As one of Massachusetts’s best solar power installation companies, we’ve seen first-hand the amazing economic benefits of solar power and thoroughly enjoy passing on those benefits to our local community. 

How Does Solar Affect The Economy?_graphic

How Does Solar Energy Benefit The Economy?

1. Massachusetts Net Metering Regulations

Net metering is one of the most beneficial arguments for installing solar panels onto your residential or commercial property. Essentially, net metering allows unused electricity to transfer back to the utility companies and into the grid in exchange for monthly bill credits. In Massachusetts, these credits never expire and rollover month-by-month.

With less money spent on utility bills month-after-month, solar panel owners are able to put that money into their savings and eventually back into the local economy, rather than wasted on excess energy usage. For a full breakdown on net metering, be sure to check out our latest net metering article, which goes into more detail about how net metering works and how it benefits your wallet.

2. Continuously Expanding Job Opportunities

The solar industry is continuously expanding and the solar market is creating more and more jobs in pursuit of sustainable energy each and every day. According to Forbes, “Clean energy employment grew 3.6% in 2018, adding 110,000 net new jobs (4.2% of all jobs added nationally in 2018), and employers expect 6% job growth in 2019.”

While 2020’s COVID-19 pandemic has impacted the job market in renewable energy, we fully expect to see those jobs return and for the solar industry to make a strong comeback this year, and beyond.

3. Reduce Dependence On Foreign Energy

Solar Reduces Dependence on Foreign Resources_graphic

It’s no secret that Americans love technical energy. From cars to electronics and smart gadgets and appliances. Our culture loves seeking out the latest technologically advanced energy-using products that add convenience into our everyday lives and provide endless opportunities for entertainment and productivity.

By switching to solar, many homeowners feel that they are slashing our country’s dependence on foreign fossil fuels. This decrease in the use of foreign imported oil as an energy source keeps money in the United States, strengthening our economy and creating jobs. Oh, and it also helps our friends in Silicon Valley create those amazing pieces of technology that everyone loves!

4. Less Strain On Local Utility Companies

Despite resistance from some utility companies across the country, solar energy combined with net metering actually helps reduce the strain on power grids during peak hours. This even applies to urgent circumstances, such as rolling blackouts and other natural disasters, such as 2020’s heatwave in California, where utility companies utilized energy batteries and net-metered electricity to regain control of the grid.

Net metered and stored energy helps curve the demand on utility companies, reducing their chances of becoming overwhelmed or overloaded when energy demand is at its highest.

5. Investments In The Local Massachusetts Community

Our personal favorite. Many solar companies are locally owned and operated by enthusiasts and professionals within the Massachusetts community, such as SunPower by BlueSel. By supporting the renewable energy industry, that money funnels back into the community and neighborhoods near you, paving the way towards an economically successful and sustainable future.