Common reasons for Why People Go Solar:
Fossil fuel / diesel fuel oil in particular, currently produces all of the Cayman Islands' electricity as its primary energy source. Formed from organic material over the course of millions of years, fossil fuels have fueled global economic development over the past century. Yet fossil fuels are finite resources and they can also irreparably harm the environment. According to the US Environmental Protection Agency, the burning of fossil fuels are responsible for 79+ percent of US greenhouse gas emissions. These gases insulate the planet, and could lead to potentially catastrophic changes in the earth’s climate.
Oil poses major environmental problems, and Cayman’s heavy reliance on it for electricity makes it difficult to reduce consumption. Besides the environmental degradation caused by oil spills and extraction, combustion of oil releases fine particulates which can lead to serious respiratory problems, and is a major source of greenhouse gas emissions. Indeed, petroleum is responsible for 90+ percent of greenhouse gas emissions in the Cayman Islands.
Cayman is listed as the 25th worst polluting country in the world on a per capita basis. Moving to a solar solution for the generation of electricity would save the country over $150 million dollars per year - keeping those hard earned dollars in our own country and eliminating one of the worst health hazards these islands have ever known.
Electric energy prices have steadily increased over the past 20 years at a rate near 4% per year. If we use this example at 4% annual increases:
Solar will help reduce those costs by as much as 90% in most cases. The warranty period for solar production is typically 25 years.
Has your retirement or pension fund taken a hit lately? In addition to increased home value, Residential Solar can produce small, but certain long-term returns.
This is a huge return on your investment considering that you will not only be saving money but you will be protecting our environment, creating local jobs and keeping the money, typically sent to foriegn countries for fossil fuels, in our own economy.