While solar panels used to be a niche product or energy option for eco-conscious households, they have quickly become more mainstream over the past few years. This is due to the great strides made in solar panel technology. In fact, you might be eligible for free solar – this content sheds more light on the subject.
All the same, why is solar a viable investment option? Let’s lay bare the details to help you understand why the future looks bright for solar power.
Increasing Your Home’s Value
The National Renewable Energy Laboratory reports that the value of your home increases 20-fold for every dollar solar helps you save on your utility bill. Simply put, the more money you save, the higher your home value increases. This means solar is also a viable investment in your home.
Zillow, a widely used real estate platform, reports homes with solar energy sell for 4.1% more than those without. Plus, if your home has a solar system, it could sell up to 20% faster than a home without one. Thus, if you’re considering putting your house on the market, solar energy can increase its value while enhancing its attractiveness to would-be buyers. Now, who wouldn’t want to jump at such an opportunity?
Cost-effective and Long-term Energy Solution
It’s an open secret that solar is one of the most cost-effective energy solutions available. This makes it a significant investment in terms of savings on your utility bills. Solar panels require no fuel or ongoing maintenance, eliminating additional costs while improving your savings potential over time.
They say numbers don’t lie, so let’s do some math. The average monthly household utility bill is roughly $125. If you install a robust solar system, you can reduce your electricity bill by up to 90%. That could translate into a whopping annual savings of about $1,500. Well, most solar systems have a 25- to 30-year service life. Let’s assume the installation cost is $13,000. Over 30 years, you can save between $24,500 and $32,000 – all factors constant.
What’s more, you can further reduce installation costs by taking advantage of various solar rebate programs. For instance, the New Jersey sales tax exemption lowers the upfront cost by 6.625%.
Similarly, the state’s generous net metering program pays you back for the excess energy your solar system generates. With such savings, it’s easy to see why investing in solar is a smart move. All factors considered, you can quickly recoup your solar investment within a decade.
More home buyers are seeing the need to be environmentally responsive – even as they look forward to saving some cash by investing in solar. And let’s face it, the traditional processes of generating electricity leaves much to be desired. Take the burning of coal, for instance – it emits harmful pollutants such as sulfur dioxide, nitrogen oxide, and carbon dioxide.
Solar energy reduces the use of fossil fuels while eliminating all the negative impacts on air quality. Besides, it’s a clean, renewable energy source with zero emissions. This means going solar significantly reduces your carbon footprint and helps preserve natural resources for future generations.
By embracing solar power, you’re helping to preserve the environment. And while at it, you can take advantage of various environmental incentives such as credits on utility bills or cashback programs.
Versatility and Scalability
The sun is always shining somewhere. And that’s a good thing because solar is a very versatile energy source. It can help power homes, businesses, and even spacecraft.
Even if you often get drenched in rain and snow, you can still enjoy the benefits of solar power. Solar panels can soak up the sun’s rays even on cloudy days. Sure, they may not be as efficient, but they still work. And while solar panels are perfect for homes with ample roof space, you can explore other options, such as ground-mounted systems and solar carports.
As if that isn’t enough, solar energy is also scalable. Whether you want to install a small system for your home or a large one for your business, solar lets you do it efficiently. With the help of an experienced solar installer, you can customize your system to fit your power needs and budget.
Solar is also a great option if you want to go off the grid. With it, you can generate power and be self-sufficient. Similarly, communities living in rural areas without electricity can rely on solar panels to get the power they need. And the best part is, they’re guaranteed energy.
In sum, solar energy is an excellent investment offering numerous advantages. And as a long-term energy solution, it’s the way to go, as we’ve established. So, if you were on the fence, I hope this post helps you warm up to the idea of investing in this renewable energy source.