Solar power is enjoying a real renaissance, with millions of solar panel system installations across the US. Of course, solar isn’t just trendy. Going solar has many benefits, including reduced or near zero electric bills, tax incentives, energy independence, and more.
Reduced or Near-Zero Energy Bills
The benefit that interests most homeowners is that solar offers a way to help reduce or nearly eliminate their electric bills. With electricity prices steadily increasing over time, solar offers a way to help control your energy bill. With a big enough system and the right location, a solar panel system can actually reduce your monthly bill to near zero.
So, what if you don’t have the cash to purchase a solar system outright? Are there other alternatives for going solar? The answer is YES, and one of the top ways to go solar with $0 dollars out of pocket is with a Power Purchase Agreement or PPA. Going solar with a PPA means your solar installer becomes your new electric provider. You purchase the electricity your system generates from them at a fixed rate per kilowatt that is typically lower than what you are paying now. The result is that your monthly electricity bill will be lower than what you pay now.
Help the Environment
Traditional methods of creating electricity typically involve either burning fossil fuels or using nuclear technology. Neither is great for the environment. Burning fossil fuels contributes to climate change, and nuclear waste is difficult to manage. Going solar lets you help the environment by limiting your carbon footprint and helping prevent the creation of more nuclear waste.
Tax Incentives and Rebates
These days, even the federal government and state governments are on board with solar. You can get federal and state tax incentives when you buy a solar panel system. Beyond that, you can get rebates from your state government, local government, or even your local utility company.
Return On Investment
Most home improvements offer only a so-so return on investment. Even stock market investments are variable. With solar, your return on investment will typically run between 10 percent and 20 percent. That beats the ROI on almost every other investment option out there, making it one of the top benefits of going solar.
Solar panel systems are very hands-off and require little or no maintenance on your part. Generally, you can get away with nothing more than a garden hose and maybe a soft-bristled brush.
Promote Energy Independence
Energy independence is a hot topic in a lot of ways. The need to protect access to foreign oil sources often puts the U.S. in a difficult position. Using renewable power sources like solar energy can help free the country from the need to maintain and protect access to foreign fossil fuel sources.
Boost Property Value
One of the lesser-known benefits of going solar is that it can actually increase your property value. Granted, the increase will vary based on the location of your home. Overall, you’ll see a bigger property value boost in areas like Southern California, where it’s very sunny for most of the year. Yet, even in less sunny areas, you can still see a modest improvement.
Over the last decade, the solar industry has grown from a plucky, upstart industry to a serious job provider. The solar industry employs hundreds of thousands of people across the nation. These jobs range from businesses that make the actual solar panels to the companies that install them, not to mention jobs created in other industries that provide support for solar-specific businesses.
Find Out if Going Solar is Right For You
The benefits of going solar are numerous. They provide real benefits for homeowners, such as lower electric bills, improved property values, tax incentives, and a way to reduce their carbon footprint. It also lets you do a little bit to help in general ways, such as supporting the economy and promoting energy independence. If you’d like to learn more about going solar, schedule a call with Ivan the Solar Guy today.