Most homeowners that decide to go solar do so for one of two reasons: to cut down electricity bills or to improve the environment. After all, changing to solar energy is one of the many ways you can hit the two birds with one stone. Truth be told though, there is a myriad of other reasons why going solar keeps growing in popularity. If you’re wondering about all the benefits that these homeowners get to enjoy as a result of getting energy from the sun, here’s a list of the common reasons.
Receive Solar Investment Tax Credit (ITC)
Despite the steady progress, solar energy still only represents 2.5% of the total energy production in the US. To accelerate the progress, even more, the Solar Energy Industrial Association (SEIA) started the Solar Investment Tax Credit (ITC) initiative. This initiative aims to expand clean energy in the US by providing homeowners with incentives for going solar. In 2019, homeowners who went solar had full access to the 30% federal solar tax credit. The percentage dropped down to 26% from 2020 to 2022, and it will drop down to 22% in 2023, and to 10% in 2024. As you can see, the sooner you change to solar energy, the better the ITC you’ll get.
Save on Electricity Bills
Electricity costs are among the most expensive bills you have to endure as a utility owner. Meanwhile, you can drastically reduce your electricity bills, even completely eliminate them, by installing a solar panel system. The energy you get from the solar panels will not only be completely free of charge, but it’s also going to last you for more than 25 years. Even partially going solar will save you a lot of money down the road.
Get a Greater ROI
Going solar will greatly benefit your finances in more than one way. Not only will it help you cut down on electricity bills, but the return on investment you get will also be remarkable. Although they can be quite an upfront investment, you’ll soon pay off their cost in a few years. Moreover, most homeowners get a 20+% ROI from their solar panels. The fact that they provide you with a much more affordable alternative to electricity, in a time where electricity prices keep going higher each year, increases their value even more.
Solar Panels are Both, Reliable and Safe
Thanks to the research and development invested in creating more sustainable clean energy sources, residential solar energy has significantly improved since it had been introduced back in 2000. As a result, the current solar energy technology is practically safe for almost all households and properties. Once you get solar panel experts to install your new solar system will give you quality-assured services. These experts install the systems according to the standards set by the SEIA, resulting in a safe and reliable clean energy source. Better yet, you’ll get a comprehensive warranty to guarantee full coverage in the unlikely event that something does go wrong with your system.
Increase Your Home Value
There’s a lot of evidence pointing toward the increased home resale value of properties equipped with solar systems. Appraisers value these properties at higher sale prices. Likewise, potential home buyers find these properties more appealing and valuable, and they’re quick to make the additional investment in return for the benefits of solar energy. This places these solar-equipped properties in high demand, making them sell faster in comparison to other listed properties.
Protect the Environment
Protecting the environment is one of the main reasons why homeowners are going solar. That’s because using solar energy instead of relying on electricity can greatly reduce a homeowner’s greenhouse gas emissions – or carbon footprint. Carbon footprint is the amount of damage our daily actions, like using electricity and vehicles, leave on the environment. According to statistics, 38% of carbon emissions in the US are made by residential and commercial buildings. Meanwhile, installing one residential solar panel system will, on average, eliminate 3 to 4 tons of carbon emissions. If you’re wondering, that’s the equivalent of planting over 100 trees each year.
Now that we’re in 2021, we know better than ever that sustainability is the future. Even mega-retailers are upgrading to solar systems, which can only give you an idea of how the future will keep shifting toward clean energy and sustainability. As solar energy keeps booming over the next few years, joining the game early will give you better benefits. These benefits are not only limited to cutting down costs, but they’ll also ensure a better life quality for you and your surroundings.