Going solar is becoming more and more popular. People’s wish to reduce their carbon footprint is not the only reason why so many people are installing solar power systems. It is also the savings that consumers can make on their electricity bills that is driving the change. So, if you are still sitting on the fence about joining the solar power revolution, read on. Here are ten compelling reasons to go solar this year.
1. Solar Power is Clean Power
Home energy usage is responsible for 20% of CO2 emissions in the United States. The CO2 that you are responsible for is contributing to global warming and climate change. Solar power is 100% renewable and 100% clean. So, by installing solar panels on your home, you will be playing your part in reducing emissions and protecting the environment.
2. Solar Systems Are an Investment
Home solar systems are an investment that will pay back a premium for years to come. The average consumer will recover the cost of solar panels through energy savings in seven to eight years.
After that, you will be benefiting from free electricity for the remainder of the solar power system’s life. The average return on investment (ROI) of solar systems is 20%, which is a far higher return than you would receive on most other types of investments.
3. Solar Power Increases the Value of Your Home
Solar power is now a feature for which many home buyers are prepared to pay a premium. Studies of the property market have discovered that homes with solar power systems attract higher prices and sell faster. So, when you go solar, you will earn a return on your investment every year, and the value of your home will rise, too. What’s more, as solar power’s popularity continues to increase, so too will the additional value that solar systems add to property prices.
4. Future-Proof Against Rising Energy Costs
Energy prices have risen by an average of three percent every year for the last ten years. Invest in a solar energy system, and you will never again have to face the prospect of spiraling energy costs. The certainty of fixed energy costs will help you manage your home budget and protect you against any future global energy crises.
5. Solar Power is Low Maintenance
Home solar power systems require little or no maintenance, and most solar panels are covered by at least a 20-year continuous operation manufacturer’s warranty. The only thing you might have to do to keep your solar panels operating at peak capacity is to keep them clean. Even so, cleaning solar panels only requires rinsing them down with water once or twice a year.
6. Receive a Solar Tax Credit
If you install solar panels before the end of 2021, you can deduct 22 percent of the system’s cost from your taxes. If you do not have sufficient tax liability to use up the entire credit, you can roll the credit onto the next year.
The solar tax credit reduces the cost of solar systems for the taxpayer. This tax benefit provides yet another reason to invest in solar energy sooner rather than later.
7. Benefit from Net Metering
If your energy consumption goes down, any excess energy your solar power system produces can flow back into the grid. You will receive a credit from your utility supplier for any power you supply to the grid through a net metering procedure. So, when you go on vacation and no one is home, your solar power system will help pay for your holiday.
8. Boost National Energy Independence
Fossil fuel reserves can be depleted, but the sun will never stop shining. So, the best way to ensure national energy security is to move more homes and businesses over to renewable energy sources, like solar, wind, and nuclear power. If more people install solar panels, the country will be one step closer to never needing to import energy of any kind from another country.
9. Solar Power Boosts the Local Economy
The growing solar power industry provides local jobs and helps to boost the local economy. The home solar energy market is expected to grow at a compound annual growth rate (CAGR) of 17.32% over the next five years. That will provide jobs in the community for solar panel installers and designers and opportunities for local solar power businesses to flourish. This growth industry will give a much-needed boost to local economies.
10. Solar Power Saves You Money
The bottom line, of course, is that going solar will save you money. There are lots of ways to finance your home solar energy system, including leasing and solar loans, as well as purchasing your system outright. Once your solar system is installed, you will start saving money on your monthly energy bills.
To sum up, solar energy is the clean and efficient energy source of the future. Investing in a home solar energy system now will save you money and is likely to increase your property’s value. And with attractive finance options and a tax credit, you could start saving money on your energy bills for only a minimal upfront cost.