While cheaper fuel beckons for the US and Europe, weak oil-producing nations face hardship from the vast transfer of wealth.
Long Islandâs high electric costs have made it an attractive market for solar. About 40 percent of all systems installed in New York are on Long Island, according to the stateâs Energy Research and Development Authority.esearchers found that buyers were willing to pay a premium of $15,000 for a home with the average-size solar photovoltaic system (3.6 kilowatts, or 3,600 watts), compared with a similar home without one. Put another way, that translates to about four additional dollars per watt of solar power.
Solar power is a clean, renewable energy source, yet it makes up less than 1 percent of the power used in the United States [source: USA Today]. Part of the reason more people aren't using solar energy to power their homes is the cost. Solar panels can cost $30,000 or more to install, an investment that can take 10 to 15 years to recoup [sources: Live Science, CNET News, Walsh].