Whether your motivations are economic or environmental, the advantages of switching to solar power are many. In fact, there are more than 2 million solar installations in the U.S., and it’s forecasted that by 2023, there will be 4 million.
Switching to solar power is a wise choice for your home or business. While there are many reasons to go with solar power, there are few reasons not to. Here are the top five reasons to go solar.
Eliminate or reduce your electric bills
Your home electric costs are a big expense every month. With solar power, you can generate your electricity free; even if your system doesn’t produce 100% of your electrical needs, solar will dramatically reduce your electric bill.
The average cost of installing a solar system is anywhere from $10,000 to $35,000. While that’s quite a bit of money, your solar panels can save anywhere from $45 to $190 every month during the first year.
That’s an average of $540 to $2,280 for just the first year, which means your solar system can pay for itself in five years. The estimated savings of the average home solar system save at least $25,000 over the course of the systems’ 25-year life span.
Solar Power increases the value of your home
Homes with solar power command higher sales prices and sell much faster than houses without solar.
In fact, A Department of Energy study found that home buyers will spend an average of $15,000 more for a house with solar power.
Likewise, a survey conducted in 2017 by Zillow determined that homes with solar sold for 4% more on average. The bottom line is, solar-powered homes are in high demand, and will bring top dollar.
Tax Incentives and rebates
Tax incentives most often apply to grid-tied solar systems, but, a few apply to off-grid systems as well.
Some state programs will reimburse monthly for your solar installation, based on the amount of electricity your system sends to the grid. Others pay a one-time reimbursement as a tax credit or rebate.
The incentives for installing solar differ from state to state. Generally, to receive an incentive, you need to hire a licensed solar installer, and connect the system to the power grid. The State Incentives for Renewable Energy website can help you find out what your state has to offer.
A home generator can fail, especially as gas and diesel fuel runs out during a disaster.
But solar power increases your ability to keep your home running, providing protection for you and your family when disaster strikes. While the rest of your neighborhood is in the dark, your home will still have the lights on. All of your essential appliances will be up and running.
In fact, solar power allows you to cut the ties from your local utility provider, making your home safer and more reliable when disaster strikes. As long as the sun is shining, you will have electricity to keep your home both comfortable and safe.
Solar power helps the environment
Solar power is an excellent way to reduce your home’s carbon footprint. Buildings, both homes, and businesses, make up 38% of the carbon emissions in the U.S. Going with solar power on your home can help reduce that number significantly. Unlike burning fossil fuels, solar power relies on an energy source that will never run out and won’t do harm to the environment. In fact, every year, a typical home solar system eliminates more than three tons of carbon emissions. That’s the same as planting more than 110 trees!
The bottom line is, while installing a home solar system is a rather significant cost upfront, there will be many years of savings in the future. There is no reason not to switch your home to solar energy; in fact, you may receive a state reimbursement or a tax credit to help defray those costs.