Recently the White House announced that there will be wide array of executive actions that will boost renewable energy and energy efficient programs and even encourage investments in these ventures. The Hill reports that more than $1 billion will be awarded in new loan guarantees.
A couple certain benefits of these plans are a great push towards renewable energy solutions, along with lowering the price of residential solar panels and other clean-energy solutions, according to Yahoo News. These actions by the Obama Administration are made to effectively aid states in meeting the specified carbon emission goals that are required by the Clean Power Plan, along with other energy goals to decrease the country's reliance on fossil fuels.
The White House stated that these actions will expand opportunities to install residential solar for those who need it the most, while building on existing state leadership and driving forward to discover lower-cost energy solutions for the future. The International Business Times reported that since 2010, the price of residential solar systems has decreased by half. Further projections by the Solar Industries Energy Association indicate that the residential solar market grew by 76 percent just in the first quarter of 2015 due to these falling prices.
"The cost of renewable energy is plummeting and becoming more cost-competitive every year," Gabe Elsner, the executive director at the Energy and Policy Institute. "Even if we ignore the negative impacts of fossil fuels, clean energy will be able to compete head-to-head with fossil fuels in the market, and when we factor in energy efficiency, the Clean Power Plan will save families money on their bills."
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