In today’s rapidly-changing world, energy and environmental issues have increasingly taken center stage. Reliance on fossil fuels becomes less practical each year, as oil reserves dwindle and tensions increase throughout the Middle East. Fortunately, alternative energy sources do exist and solar energy is quickly becoming one of the most popular options.
The biggest reason most homeowners are drawn to solar energy is because of the money they can save on their electric bills. Even a small installation can save you money from day 1. Unlike other clean energy technologies, you can choose how many panels you would like installed in your home. Each kilowatt you receive through your solar system brings you increased savings on your bill. Thus, it is possible to install enough panels to power everything in your home, reducing your monthly bill to $0.
Even if your local utility company raises its rates, the power you’re getting from the sun is still free, saving you more money each year. In Hawaii, the average homeowner with solar panels saves $64,000 during the first 20 years. Additionally, the cost of installing these systems has gone down considerably in recent years, bringing it within reach of a growing number of households.
Another potential advantage of solar technology is that depending on where you live, you might be able to generate passive income with your panels. Many states offer renewable energy incentives to encourage homeowners to go solar. Qualifying recipients are actually paid for the energy their panels produce, either through cash or credits. Your residential solar provider can tell you if there are any such incentives available in your area and what it would take for you to qualify.
Higher Property Values
Some homeowners may be understandably reluctant to purchase an expensive installation if they think they might be moving in the near future. Fortunately, homes with solar energy systems are known to have significantly higher property values than comparable homes that don’t have them.
For example, a $500,000 home with an average installation can increase in value by $20,000 or more. That’s actually more than the average cost of installation, meaning the installation would not only pay for itself, but also add more to the home’s value than most other types of remodeling projects. If you’re considering home improvement projects to raise the value of your property, incorporating solar technology would be a clear winner.
Another concern for environmentally-conscious homeowners is their carbon footprint. As time goes on, developed countries are making greater efforts to move away from fossil fuels, in favor of clean, renewable energy. Generating solar energy requires no expensive locating, excavating or transportation costs. Nothing has to be burned to produce the required energy, so there are no greenhouse gases to pollute the air or surrounding natural environment. Areas with larger numbers of solar-powered homes tend to have cleaner air, water and soil. As a result, the overall health of the people living in these areas is likely to be better than average.
Finally, it’s worth mentioning how much simpler solar technology is, in terms of construction and operation. There are no moving parts to replace, due to wear and tear. Even dust accumulation on your solar panels has little to no effect on their performance, in most cases. Most solar systems are likely to last at least 25 years, which allows you to save money for other expensive repairs your home might need along the way.
As the world’s population grows, experts continue seeking out better ways to bring cleaner forms of energy into people’s homes. Solar technology offers some of the most attractive advantages in the industry, especially with regard to a homeowner’s bottom line. These advantages are likely to get better as solar-powered homes become more common and installation costs continue to come down.