Benefits of Installing Solar Panel for your Home
Recent changes in the incentive tax credits for solar panels have more homeowners in places like San Francisco, CA, considering solar panel systems. A substantial discount as a tax credit reduces the time it takes to “break-even” on a solar panel system.
Between the options to lease solar panels and loans with affordable interest rates on these panels, many homeowners have viable paths toward owning solar panels. So what is the big to-do that is prompting investment in residential solar? Here are some of the benefits you could receive.
Reduction in Energy Bills
At its heart, electric, solar panels are a chance to offset some of your electricity usage (perhaps even all of it!) by generating your power. Electricity bills that used to be very high may be much more reasonable due to the amount your energy company credits you for electricity flowing into the power grid from your panels.
While solar panels often last 25 or more years, many will “pay for themselves” in reduced energy expenditures between 10 and 16 years. The payback time can be even lower with incentives and favorable policies with the energy provider. All electricity you generate after that is essentially free energy, a return on your initial investment. If you’re looking for the best options, consider reaching out to a California solar provider or a company local to you for seamless solar panel installation.
A Hedge Against Changing Electricity Costs
10 to 16 years can feel like a long time to be waiting for payback, but the truth is that electricity is not very expensive in the United States. If there were a challenge that made electrical power more expensive, your solar panels would still generate energy for you, offsetting this more expensive power. Many people see their electricity costs as more stable because they have solar panels.
The Potential for Backup During Outages
Opt to install a battery backup during commercial solar installation. You can power your home from the batteries during a power grid outage, and you can recharge that battery backup whenever the solar panels receive sunshine. Some areas and solar panel systems can also pay attention to when rates for electricity go up due to high demand and selectively opt to store energy, sell it back on the grid, or use it on the house, depending on what will be best for the homeowners.
Appeal to Future Home Buyers
While a solar panel system with a loan or a lease may be a mixed blessing for a homebuyer, an owned-outright solar panel system can increase the value of a home. Not every buyer values the system the same way, but nearly everyone recognizes that a home with solar panels is slightly more energy independent, and their bills will be lower.
Investing in a Future That You Feel Strongly About
For many people, even the payback period is secondary to the values of sustainability – many people see current resource consumption in the United States to be unnecessarily high, and solar panels are one way to reduce dependence on fossil fuel burning. If this value is essential to you, combining it with the potential for a return on your solar panel investment can make it a beautiful path forward.
