5 Benefits of Installing Solar Panels
Implementing solar power systems can bring many benefits to homeowners. If you are considering installing solar panels in your home, here are a few key benefits.
1. Solar panels help the environment
Unlike fossil fuels, solar power does not depend on scarce non-renewable resources, which is why many people are drawn to solar panels to protect the planet.
" MORE. Solar energy and fossil fuels?
How solar panels improve air quality
Most electric companies burn fossil fuels to power homes. These oil and gas fuels generate carbon emissions and pollute the air with greenhouse gases. These by-products are mainly responsible for climate change, global warming and the imbalance of entire ecosystems.
Choose a more environmentally friendly option when installing a solar panel system. The main environmental impact of solar cell production is relatively small compared to fossil fuel production, and the long-term benefits of solar cells outweigh the harms of their production.
The use of solar energy helps protect people and the environment while reducing the risk of extreme weather events.
How solar panels save water
Unlike fossil fuel power plants, which often use steam turbines to generate electricity and cool vehicles, solar panels do not require water to generate electricity. Taking action to conserve water in the face of a worsening drought is a huge boon to the environment.
2. Solar panels will help you save money
The cost of installing your own solar system can be significant, but you must get back what you paid upfront. Your exact solar savings will depend on how much energy you use and produce, but over time, you will have a positive impact on your bank account. most homeowners report savings of over $1,000 a year.
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How Solar Panels Reduce Electricity Bills
Usually you won't have to pay for electricity generated by solar panels, which means your electricity bill should be significantly reduced if not eliminated.
Also, when your solar panels are connected to the grid, net metering programs can provide credit for any excess energy your system sends to the grid.
Utilities allow you to use these credits when you need more power from your solar panels during the evening or winter months. Most people don't have net annual payments. (Off-grid solar systems completely eliminate utility bills.)
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Solar panels are also reliable and durable, and most of them have been successfully operating for 25 years. They also require very little maintenance, so you shouldn't have significant maintenance costs. (Even if something breaks, most solar companies offer a 20-25 year warranty.)
These factors combine to create a situation where solar panels provide additional savings that provide a significant return on investment.
How solar panels give you tax breaks
The cost of solar panels may seem intimidating, but the government is offering a federal solar investment tax credit that helps lower the initial cost of purchasing a solar power system. By applying for this credit, you can claim back 30% of the total plan fee when you file your tax return.
Some areas offer additional incentives to encourage the use of solar energy so you can qualify for additional savings. For example, California residents can take advantage of discounts, tax credits, and other programs not available elsewhere.
3. Solar panels add value to your property
If you're looking to add value to your home, solar panels can help. According to the National Renewable Energy Laboratory (NREL), for every dollar of solar panels, the value of your home increases by $20. So if your solar panels save you $1,000 a year, your home's value will increase by $20,000.
Homebuyers are increasingly asking about the energy efficiency of a home before buying, and reports show that many people are willing to pay more for solar-powered properties. This can vary by region, so if this is an important factor for you, be sure to research the potential increase in property value before making a purchase.
" MORE. Do solar panels add value to a home?
4. Solar panels help your community
While many people install solar panels for personal gain, it's not just about you and your family. In fact, you often do something solid for your neighbors too.
How solar panels help your neighbors
If your solar energy system, like many others, is connected to the grid, you are also part of the community of people who depend on this traditional source of energy. However, people with solar panels can send excess energy from their panels to the grid with net metering, which gives solar panel owners credit for the unused energy produced by the solar power system.
Not only does this process lower your bills, but it helps keep the price down for everyone. The more solar-powered housing in a given area, the less strain there will be on the grid to produce enough power for everyone.
How Solar Panels Provide Local Incentives
When you invest in solar energy, you support everyone in the solar energy community, including local solar installers and companies that work hard to provide alternative and renewable energy sources. By investing in solar equipment, you are helping to fund this important work and ongoing research to make energy more sustainable. After all, the economic benefit of your purchase far outweighs your property.
5. Solar panels promote energy independence
Like any commodity, energy is subject to the law of supply and demand, which means that the more people demand energy, the higher the price. If you don't want to deal with the ups and downs of the energy market, solar panels can be a worthwhile investment.
As of press time, US energy prices remain in a strong upward trend.
People who prefer to be completely self-sufficient often install off-grid solar panels. These systems are most common in rural areas and are completely autonomous. This means that when there is no sunlight, they get energy from the battery and not from the grid.
However, most local governments require you to be connected to the grid so that excess power goes into the municipal system rather than being stored in your personal battery. While having a grid-tied solar system is not considered complete independence, you are not subject to as much price volatility because your panels are still meeting some of your energy needs.
Whether your property would be better off with an off-grid or off-grid system is one of several decisions you can make during the design phase of a solar system.
Bottom line
Solar panels can help you save money and protect the environment, benefit your community and help you live independently. If you're interested in switching to solar energy, check out our list of the best solar energy companies to get started.
While equipping your home with solar-powered equipment can be a daunting task, the benefits of solar power can make the process worthwhile.
" MORE. Advantages and disadvantages of solar energy
