Solar panels may be costly to implement but it offers a clean, renewable source of power. The technology harnesses the sun’s energy and makes it useable for a home. The many benefits of residential solar power are lauded because it offers an inexhaustible fuel source that is pollution- and noise-free. But wait, there are more advantages to using solar panels. Below are the additional benefits of switching to solar.
Save on Numerous Costs
A solar energy system provides an opportunity for anyone who is looking to reduce monthly utility bills and make a long-term, low-risk investment. This is obviously one of the biggest benefits you can get from going solar.
You will have considerable savings because your system will pay for itself in 5-7 years, and you’ll be enjoying close to free electricity for the rest of the 25+ year life of your solar electricity system.
With solar panels on your roof to generate electricity for you, it can add up to thousands of dollars in savings each year. You will also be saved from fluctuating and unpredictable increases in energy costs from the grid.
The exact savings you will see with a solar energy system depends on the following:
- Electricity consumption
- Solar energy system size
- Whether you purchase or lease your system
- Direct hours of daily sunlight
- Size and angle of the roof
- Local electricity rates
Apart from the utility bills that you will be eliminated from paying, you will also get 30% of total system costs back from equipment and installation as a federal income tax credit when you file your taxes. This means you will save $7,500 on a solar system worth $25,000.
Combine this with state and local rebates and Solar Renewable Energy Credits (SRECs), and your total costs can be cut in half. No matter where you live, you will most likely have some amazing tax credits for going solar making a solar option economically profitable.
Increases the Value of Your Property
As homebuyers are becoming more educated on the value of solar energy, the demand for properties equipped with solar panel systems continues to grow. Appraisers are also increasingly taking solar installations into consideration as they value homes at the time of the sale.
Studies show that homes equipped with solar energy systems have higher property values and sell more quickly than non-solar homes because they are considered as upgrades. Homebuyers are willing to pay premium for a solar home, hence, you can sell your home with an increased value of $15,000.
Solar Resource is Everywhere
Did you know that just one hour of the noontime summer sun is equal to the annual U.S. electricity demand? That’s how enormous the solar resource is in the United States such that most states have a good-to-excellent solar resource, including places with a relatively low solar resource like Alaska. So wherever you are in the U.S., you can experience cost savings by generating your own power.
Help the Environment and Humanity
One of the long term greatest benefits of residential solar power is how it derives clean, pure energy from the sun combating greenhouse gas emissions and reducing our collective dependence on fossil fuel.
In addition to the reduction of greenhouse gas emissions, every kilowatt-hour (kWh) of solar-generated power from the sun substantially reduces dangerous pollutants like sulfur oxides and particulate matter, aside from the reduction in water consumption and withdrawal. This is because fossil fuel production requires significant water resources, while solar power requires little to no water to produce electricity.
Numbers prove that a typical residential solar panel system will eliminate three to four tons of carbon emissions each year—that is equivalent to planting over 100 trees annually.
For humanity, solar power creates jobs in clean energy and demonstrates your commitment to sustainability as companies continue to embrace the changing landscape of energy production. Businesses are accepting that “green” credentials are a powerful driver of a consumer’s purchasing decision.
Residential Solar Power: Undoubtedly a Good Option
Solar power is undoubtedly a good option wherever you are in the U.S. because even if you are located in places where the intensity of the sun is less than in other areas, it is still sufficient to produce significant amounts of electricity to power your entire home. Save money, save the environment, and save the future generation with residential solar power.