Solar power is proving to be an affordable and fast-growing clean energy source. There are more than 3 million solar energy installations across the United States, with one million built in the last two years.
Congress implemented a solar panel tax credit in 2005, which led to a 32% annual increase in US residential properties with solar installations. In 2014, solar was used to generate power for 633,000 homes. There are now around 2.7 million solar panel systems in homes throughout the country, and the numbers continue to grow.
In the simplest terms: photovoltaic panels (PVs) absorb sunlight as direct current (DC) electricity. An inverter then converts it to AC electricity which is then distributed into the home’s electrical system, powering appliances, light fixtures, and other furnishings.
Integrating a solar system into a residential or commercial building leads to energy surpluses and many other benefits.
If you’re updated on the news about solar energy, you likely already know about the steadily rising interest in such systems for home electricity. Homeowners greatly appreciate the lower carbon footprint and electricity bills that result from solar power. And despite the cost of installation and maintenance, these systems bring significant returns on investment through higher property value and solar tax credits.
These are the most compelling reasons to consider solar power for your home:
Arguably one of the most significant benefits of going solar is its sustainability. Going solar reduces greenhouse gas emissions, effectively contributing to a cleaner and greener environment.
These systems harness energy directly from the sun. This infinite resource can help the population break away from dependence on coal, natural gases, and fossil fuels that heavily contribute to pollution and climate change.
On a related note, solar and other sources of clean, renewable energy also improve public health by reducing the effects of air and water pollution on humans.
Is the cost of solar power for home use worth the initial investment? Many aspiring homeowners are willing to pay a premium for a solar-powered home. The transition can be likened to renovating your bathroom, updating your light fixtures, or adding a kitchen island—an upgrade that will considerably boost your property’s value.
Upgrading to solar can raise your property value by 4.1%. This is roughly $9,274 more for houses in the country’s median price range.
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Additionally, maintenance is not a significant concern for solar-powered households. A panel generally only requires annual inspection and simple cleaning services to remain in good condition for decades.
Going solar isn’t just an environmentally friendly option that modernizes your property. It lowers utility bills and leads to significant returns.
These are the most significant factors that determine your cost savings:
The cost of solar installation is continuously dropping. It is undoubtedly an excellent investment for any household.
Solar power can also help you earn money by selling excess power to the grid. And if you consider the tax credits and rebates you can get from going solar, you will find the switch well worth it.
You can get a 30% federal income tax credit for the total cost of installation and equipment. The average price for a panel system is around $25,000, which means you can save $7,500. With state and local rebates, you can further reduce your initial expenses.
Before switching to solar energy, you must understand the social and economic factors in your community that will affect your savings and earnings from solar. You can use these resources to calculate costs and savings or consult an expert to determine how much you can benefit financially if you install a panel system in your home.
It’s worth noting that the cost of installation has decreased over the years as it has become more common and technology continues to advance. However, the sticker price can still be very high.
You can only get the maximum benefit from these systems if you live in an area with ample sun exposure throughout the year. So before you decide to switch to solar, make sure you understand all the socio-economic factors involved.
Solar is an ideal option for homeowners seeking to go green. But its benefits go beyond the environment. Homeowners can earn money by selling excess power to the grid through solar credit.
Before going through a solar panel installation, there are many things to consider, like the energy cost and the potential decrease in utility bills. It would help if you also thought about the future and how many years it will take for the system to begin paying for itself. This could be within five years if you live somewhere sunny or up to 20 years elsewhere.
The benefits of going solar are undeniable. It’s only a matter of installing the most efficient and productive system for your home.
Now that you know how your household can benefit from solar, it’s time to make the leap and transition to this sustainable energy source. You can start learning about the best solar panel for your property and partner with a solar expert near you.
Schedule a consultation with AMECO Solar & Roofing to start your solar project today!