5 Financial and Green Benefits of Having Solar Panels on Your Home
Friday, December 08, 2017
Sunlight is everywhere
and free for everyone. This pretty much sums up why solar is the energy of the
future. Unlike fossil or nuclear fuels, sunlight lasts forever which means the world
can take as much of it as possible without an end. This is clean energy with a
non-existent footprint on the earth’s natural resources. Sunlight does not need
to be extracted, processed or transported. So what are the advantages of using
solar panels?
Eliminating energy bills
While it is true that
solar installation costs are a bit high, the return on investment is
realized over time. It is easy to
calculate the point at which your solar panel will break even. Simply take the
cost of energy bills per year and calculate how many years it will take to get
to the amount of cost of your solar panel. After your solar panel breaks even,
you can count the rest of its lifetime as pure savings.
High reliability
You can be sure that your
solar panel will give off electricity every day of the year come rain or sunshine. This is unlike relying on the power grid which can be affected by
factors such as vandalism, terrorism, harsh weather or lack of fuel.As long as the solar
panel is properly fixed, there is little maintenance needed, and energy can be
expected without fail.
Tax credits and earnings
Local and federal
authorities encourage installation of solar energy systems through tax credits.
The US federal investment tax credit allows people who install solar energy systems to
deduct 30% of the costs of these systems from their annual federal tax
liabilities. People with excess
production of solar energy can channel this excess to the power grid for
earnings. This can help to further offset the costs of the solar energy system.
Increased home value
Installing solar increases a home's value. The US National Renewable Energy Laboratory has
shown that homes with solar panels will sell in a shorter period. It sells in 20% less time than homes without solar panels. They also add value by as much as $17,000 or more per home. The Berkeley lab’s
research showed that home buyers across the states were generally willing to
pay higher by an average of $4 per PV watt installed.
Ecofriendly energy
Solar energy places no demand on the planet's natural resources. There is no further footprint on the planet apart from the materials used to
make the solar equipment. Adopting solar energy use on a large scale would help
conserve the environment resources in water and vegetation. Solar energy is also a
zero-emissions system meaning its use would help combat global warming over
time.
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