It’s all about to tip.

That’s according to a slew of scientists who predict that greenhouse gas (GHG) emissions from the power sector, the biggest source of the planet’s emissions, are expected to fall for the first time in 2023.

To be clear, this is a GOOD tipping point. We’re inundated with evidence of bad tipping points like glacier melt, global temperatures, and deforestation of the Amazon. 

Not to mention other tipping points that are merely just regrettable, like the craze for LuLaRoe Leggings.  

This will be the first year where clean energy begins to replace fossil fuels. And that’s good news.

What’s a tipping point?

The Oxford Dictionary defines “tipping point” as the point at which a series of small changes or incidents becomes significant enough to cause a larger, more important change.

Malcolm Gladwell wrote the book on tipping points. He defined it as “the moment of critical mass, the threshold, the boiling point” when trends in business, marketing, and human behavior catch fire and spread like gangbusters.

Another way of looking at it is the point at which a new solution (like solar panels) crosses a threshold of affordability, attractiveness, or accessibility, skipping along on its path to mass adoption.

When solar tipped

History shows that a tipping point for a disruptive technology can come even before it hits five percent of market share.

Solar is already way past that, and quarterly global solar installations have grown 50% each year for the past three years.  

But it took some time to get there.

Solar panel technology has been around for about 60 years, but it’s only in the last decade or so that they’ve really taken off in widespread adoption.

A number of factors contributed to this tipping point. Affordability, for one.

The cost of solar power dropped by more than 80 percent over the past decade thanks to the combined forces of technology innovation, learning-by-doing, and scaling.

In 2010, a megawatt hour of electricity fueled by solar panels cost about $378 to generate. By 2019, that cost had tumbled down to just $68 – cheaper than nuclear and coal. 

Then there are external factors like the drop in costs of solar’s required components or private- and government-funded research. The 2022 Inflation Reduction Act, with its raft of subsidies and incentives for home energy projects, is another major catalyst.

The fossilization of Big Oil

Once that tipping point is reached, the momentum is with the new technology. But tipping points don’t come easy. They’re reached after a lot of resistance, including all those early high costs and low efficiencies.

But resistance comes from the old school, too. And nobody hates the clean energy competition as much as Big Oil.

They’ve worked to block renewable energy projects across the country, through lobbying groups for one. They’ve also hired their own scientists to mislead the public about climate change.  

They do it in hiding too, by backing so-called local opposition groups that look grassroots until you track down their funding.

Hardly a fair fight

They have a lot to be scared of. Fossil fuels, restricted by region, supply, geopolitics, and contractual forces, don’t stand a chance against the unlimited, renewable energy of solar.

In fact, solar energy is now cheaper than coal and gas. The share of renewable energy that achieved lower costs than the most competitive fossil fuels doubled in 2020.

Once renewable energy is cheaper than oil and gas, the race can pretty much be called.

And with our solar-ready homes, we’re backing the winner.

Cheers,

Mike

Mike McAllister is head of story for Momo Homes.

But is it really worth it?

That’s the million-dollar (or rather, 30,000-dollar) question about solar power for homeowners. If you’ve already got the basics down about how solar works, this is likely to be your next dilemma.

So let’s take a look at the bonuses and bummers of home solar energy systems. I’m the type of guy who likes to hear the bad news first, so let’s kick it off with the cons.

With sincere thanks (and apologies) to various songwriting legends for the inspiration.

Solar Energy Cons

Money changes everything

The average cost to install a solar energy system in the U.S. is $20,650 after the 30% federal tax credit, according to EnergySage. Depending on the size of your home and energy usage your costs could range from about $10,000 to $30,000.

In general (and more on this in the pros section), the installation’s upfront costs will be covered by your savings in energy bills, with years of further savings likely during the system’s lifespan. If you don’t have $20k lying around (how many of us do?), a solar loan could help.

Ain’t no sunshine when she’s gone

Solar panels can produce power on cloudy days, but less efficiently, and they can’t produce energy at night. But solar batteries can store excess energy to help mitigate this issue. And even under constant-clouds the best solar panels will still remain cost- and energy-efficient enough to be worth the installation.

If your home is connected to the grid, the excess energy your solar panels produce is sent back to the grid for the utility and others to use. This net metering means you can use electricity from your solar system during the day and electricity from the grid at night or when your system won’t cover your needs. The difference is deducted from your monthly bill, so you only pay for what you end up pulling from the grid.

Should I stay or should I go?

Unfortunately (and with a bit of sad irony) the manufacturing of solar panels creates a considerable amount of greenhouse gas. But the Office of Energy Efficiency & Renewable Energy reports that solar panels pay for themselves in terms of emissions within one to four years of use.

Solar Energy Pros

Here comes the sun

Solar energy is renewable, sustainable, and abundant. Energy.gov reports that every kilowatt-hour (kWh) of solar generated will substantially reduce greenhouse gas emissions as well as water consumption and withdrawal. 

Getting better every day

Solar power technology continues to evolve in efficiency, and solar’s increasing popularity has helped lower the initial upfront costs of residential systems, helped along by state incentives and a federal tax credit.  

Pennies from heaven

The money you save each month depends on factors like your system’s size and your home’s energy consumption. But the average single-family home can save about $1,500 a year in electricity bills.

I’ve got to break free

Over 70% of the nation’s electricity grid is more than 25 years old. This creaky system is vulnerable to increasingly scary climate change events. You might remember the 2021 winter storms that knocked out power to 4.5 million homes in parts of Texas, some for several days. 

A solar-fueled home can function entirely off-grid, especially when backed by a solar battery system to maintain power during non-daylight hours or local outages.

We’re in the money

The National Renewable Energy Laboratory reports that your home value increases by $20 for every $1 saved on energy bills. So, if your solar system saves you $1,500 per year, the value of your home increases by $30,000. 

Also, according to a study by the government’s Berkeley Lab, homebuyers are willing to fork over about $15,000 more for a home with existing solar panels.

Soak up the sun

Forbes reports that with an average upfront cost of around $12,000 (after rebates and incentives) for a home solar system, it’ll take the homeowner about eight years to break even. 

Since solar panels have a life expectancy of around 25-30 years of peak efficiency, that leaves 17-22 years of nothing but savings. That’s another $25,500 to $30,000 in savings for the life of your system.

Break it to me gently

Bottom line? We’d say the pros of solar energy outweigh the cons. It may take several years, but investing in a solar system can eventually result in major savings on electricity for you, and less stress on our planet.

Cheers,

Mike

Mike McAllister is head of story for Momo Homes.