Over 3% of US homes – a staggering 2.7M+ homes have solar, and more join, as an ever-growing number of families choose solar energy for daily usage.
We are sure you have heard all about how solar is good for the environment. But, were you aware of its financial benefits as a homeowner? This article enumerates how financially viable adopting solar energy for your home is.
Learn below how using solar energy is like owning your own electricity source rather than renting it. Benefits of choosing solar energy for the home:
1. Value Addition to your home
Installing a solar panel is like upgrading your house. Recently in a study, it was observed that buyers are ready to pay a premium of up to $15,000 for a home that has even an average solar panel.
2. Huge Savings on Electricity bills
Suppose you are paying $200 per month for your electricity bill. Now, that electricity is replaced with solar energy and eliminates the cost spent on electricity every month. You are saving $24,000 in about 10 years in such a case. If the electricity cost keeps going higher (which usually is the case), you will be saving even more.
3. Additional compensation for excess solar
There is something called “Net Metering” that applies to homes with solar panels. If there is more solar energy production than the usage, you can opt for selling back the unused energy to the utility company and get compensated at full retail rates.
4. Tax Credit
Homeowners choosing to use solar energy and making their homes energy-efficient get the benefit of claiming the Federal Solar Tax Credit. This tax credit is creditable to the Federal Income Taxes for 26% of the solar system’s cost.
5. Safeguards against energy costs
We know that solar energy is renewable; it is inexhaustible. It is constant and unlike all other energy resources, it is available freely. When you choose solar over all other energy resources, you make your house future-ready.
6. New Home Buyers prefer Solar-equipped houses
It has been evidently seen in the US that homes with solar panels are sold faster than those that do not have solar panels. As mentioned earlier, it is like an upgrade for your house and many new home buyers are leaning towards environmentally friendly homes.
If you have a solar-equipped house and you are trying to sell, you can let the buyers know that an energy-efficient home is not only environmentally-friendly but also financially beneficial.
With all the observations done in the past few years, we can say that choosing Solar energy for the house is like choosing a better future. You not only save the planet, but you are also saving your own money by going solar.
By installing solar and creating energy, customers will reduce utility bills and repay their investment over time. Tracking their energy savings in comparison to their utility bill before solar is where they will see an immediate return in their investment. The solar process can be confusing but it doesn’t have to be. Visit www.engage.solar to learn more about how to get started.