The Financial Benefits of Going Solar

Solar panel adoption continues to rise across the US. Within a single year, residential solar power installations increased by 34%. More people are recognizing the financial benefits of going solar, including provisions like the 30% solar tax credit.

On the fence about switching to solar? Read on to discover how solar panels can save you money.

After reading this guide, you can make an informed decision with your wallet in mind.

Lower Bills

About 20% of Americans couldn’t pay their energy bill in full at least once last year. Energy prices increased by 33.3%. Switching to solar energy could help reduce your monthly expenses. 

Factors that contribute to higher electric bills include:

    • Increasing and extreme temperatures
    • Cranking up the AC or heat
    • Rising energy costs
    • Repairs to grid infrastructure

You can’t always avoid these expenses. 

Check your electricity bill and compare your charges year-over-year. If your electricity bill is increasing each year, consider solar panels. 

Going solar will reduce your overall electricity consumption. How much you can save each month will vary based on your solar energy system’s size. How many direct hours of sunlight, as well as the angle and size of your roof are also factors. 

Switching to home solar panels and utilizing battery storage will help you control rising electricity rates. You can make a long-term, low-risk investment to start saving.

That’s money you could save for your retirement or a rainy day instead.

If you’re on a fixed monthly income, you’ll no longer have to worry about your bills. Your stress levels will drop, which can save you money on medical issues as well.

The cost of solar panels is lower than ever. Take advantage now to start saving money. 

Electricity Credits

You could receive electricity credits through Net Energy Metering depending on where you live. With this method, you can sell the electricity you generate through your solar panels back to the grid.

However, it’s important to note that Net Energy Metering policies vary based on where you’re located. Talk to your local solar panel company to determine which options are available in your area. 

Tax Incentives

The federal government offers a tax incentive if you have residential solar systems. In fact, state and local governments offer incentives, too! You could get up to 30% of the full cost of your system back on your annual taxes. 

To maximize your solar incentives, make sure to speak with an experienced solar system installation company. Speaking with an experienced installer can help you review your options. They’ll help you recognize every incentive available to you.

Some companies even offer customized systems to ensure you maximize your monthly power bill savings. They can also help you maximize tax savings based on where you’re located.

Their help will ensure you do the paperwork properly, allowing you to benefit from solar incentives as soon as possible. 

Want to start experiencing these financial benefits firsthand? Discover top tier solar panel installation here to get started. 

Increased Home Value

You can still benefit from switching to solar energy if you plan on selling your home in the next year. Adding a solar panel system to your home can make your home more attractive to buyers when you put it on the market. You could get a competitive edge in your neighborhood that other homes lack.

In fact, homes with solar panels already installed tend to sell faster. You can increase the sales price of your home by as much as $17,000!

Mitigate Blackout Losses

Blackouts are both inconvenient and expensive. For example, the food in your refrigerator could go back if you experience an extended blackout. You could lose hundreds of dollars worth of groceries as a result.

Your pets might suffer if your air conditioning isn’t running during a blackout, increasing the likelihood of expensive vet bills.

Some life-saving medical devices require around-the-clock electricity. If there’s a blackout, the consequences could become life-altering.

Consider switching to solar energy to keep your essential electronics running, even during a blackout. You can use a backup home battery for electricity access around the clock. Having access to electricity during these events can help you avoid monetary losses. 

Environmental Sustainability

Solar panel savings extend beyond your home; they can also benefit the environment.

Solar energy is both clean and limitless. You won’t have to “pay” for sunlight.

Each watt you generate through your solar panels can reduce our dependence on power plants, which pollute the planet.

Otherwise, accelerating climate change could cost the entire world millions in the future. Environmental disasters like floods, droughts, wildfires, and hurricanes will become more likely. These events can cause property damage, leading to monetary losses. 

Food and water will become more expensive, too.

While adding a solar panel system to your home won’t immediately solve the problem, it can offer benefits long-term. You can start contributing to environmental sustainability now to make a change for the better later. 

As more people switch to solar energy, we’ll all rely less on fossil fuels for energy. 

Meanwhile, you’ll put less stress on the power grid if you start relying on solar panels to generate electricity. Minimizing stress on the power grid can also minimize grid-related issues. Operating costs for utility companies will drop as a result.

In other words, customers will have to pay less for utility bills as maintenance costs decrease. 

Experience the Benefits of Going Solar Today

Want to put a little more money in your pocket this year? Consider these amazing financial benefits of going solar. You can start generating your own electricity to save money and the environment as soon as you make the switch.

Talk to your local installer about solar panel savings today.

Searching for more tips, tricks, and guides? You’re on the right blog.

Explore our latest articles today for more advice. 

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