> Is there a better solution?

BTW Joshua, I should have mentioned the fixed output switch mode
regulators like the LM2575-D

http://www.onsemi.com/pub_link/Collateral/LM2575-D.PDF

Being SMPS, they convert VA rather than discard energy as heat, as
linear regulators like the 7805 do

They are very simple to set up and use and worth investigating

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