Solar power is available more than ever for American households. With energy bills increasing every year, seasonal fluctuations, and the health of planet, adding solar power to your home is definitely worth looking into. In many cases, it can almost wipe out your electric bill with a lower solar bill to replace it.
1. Save Thousands
According to One Block Off the Grid, adding solar panels to your home can bring in monthly savings of well above $100 in many states. Extend this to 20 years, a typical solar panel warranty, and this translates to $36,000.
2. Little To No Upfront Costs
Solar purchase power agreements (PPAs) and solar leasing has made it possible for homeowners to go solar for little or no money down.
Many homeowners choose to finance their solar panels with one of the “pay-as-you-go” financing options. Your solar provider owns the solar system and takes care of installation, maintenance, monitoring and repairs.
As of June 2013, 75% of all American homes have access to pay-as-you-go solar.
3. Increase Your Home Value
Solar panels will increase a home`s attractiveness on the market, similarly to homes with low property taxes and homes with good Home Energy Ratings (a measurement of a energy efficiency). Check your state for specific home value estimates.
A study conducted by National Renewable Energy Laboratory (NREL) concluded that homes with solar panels sell 20% faster and for 17% more money.
U.S. Department of Energy’s (DOE) Lawrence Berkeley National Laboratory found that the sales price of the average home increased $17,000 with solar panels.
As of 2009, the $2,000 cap on the Federal Solar Tax Credit is lifted. You will get 30% of total system costs back (equipment and installation). This means you would save $10,000 on a solar system worth $30,000. Combine this with state and local rebates, Solar Renewable Energy Credits, and total costs can be cut in half.
Check your state for local incentives.
5. Secure Investment
The utility companies are notorious for their fluctuating and unreliable electricity prices. There is clearly an upward trend.
With solar panels, you know your price, and your fixed payment for at least the next 20 years (fixed energy costs).
6. Guaranteed Performance
Solar panel manufacturers include a 20- to 25-year warranty (also known as a performance guarantee) with their solar panels. The industry standard guarantees 80% performance after 25 years.
7. Save the Environment
The U.S. places second in the world in annual carbon dioxide emissions at 17.9%, right behind China. You can go a long way in lowering your carbon footprint by replacing utility power with clean electricity from solar panels. Do Your Part.
8. Solar is Easy
Getting a solar company to come out and give a free estimate has never been easier.