From environmental to financial – there are many benefits why homeowners are installing solar panels, and with summer already here, there isn’t a reason for you to shy away from a renewable source of energy that can save you thousands of dollars year-over-year! Whether you go solar for economic or environmental reasons, or perhaps both, here is a list of benefits to take into consideration.
1. Financial savings: how residential solar panels save you money
Most homeowners who install solar panels on their homes do so primarily for financial benefits. The cost of electricity can make up a large portion of your monthly expenses. With a solar panel system, you can draw immense amounts of energy that will fulfill all your electricity needs for the entire 25-year+ lifespan of your solar system. As you generate more of your own electricity, you end up using less electricity from your utility supplier, which directly translates into more savings.
Avoid rising energy costs. It’s a known fact that electricity prices continue to increase throughout the country year after year. By investing in a residential solar system now, you can lock in the price you pay for electricity today, which will protect against future rate increases tomorrow.
Increase your property value. This is an easy one: In addition to saving money on your electric bill, solar panels will also improve the value of your home. And when you consider that solar allows you to reduce or eliminate electricity bills, it’s easy to understand why!
2. Did someone say tax benefits?
If the savings weren’t doing the trick for you, maybe the tax credits will. Several states offer rebates and tax credits once you install solar services, thanks to Solar Renewable Energy Credits (SREC). The Solar Investment Tax Credit (ITC) is a dollar-for-dollar reduction in federal income tax for anyone who purchases (not leases) a solar panel system for their home or business. The current amount credited is equal to 26% of the purchase price of the solar system and will remain at 26% till the end of 2022.
3. Low maintenance wins:
The best part about having solar panels is that there is little to no maintenance associated with solar. Solar panels don’t contain any moving parts, which helps as there would be no wear and tear and lesser chances of you having to replace anything. Although, in the event that something does go wrong, your solar panel system components have very long warranties that would cover replacement and repair costs.
What to Do Now!
If you dread getting your electric bill every month, then now is the time to Go Solar! With incentives like tax credits and lower electricity costs, you have nothing to lose and a lot to gain!
Contact SUNSOLAR SOLUTIONS to learn more about going solar and how you can benefit from all the great incentives.