Solar panels can either drastically reduce or totally eliminate your electric
This top benefit of solar panels is pretty straightforward – when you install solar power for your home, you generate your own electricity, become less reliant on your electric utility and reduce your monthly electric bill. A solar panel system typically has a 25-35 year lifespan, which means that you can cut your electricity costs for decades to come by going solar. Use this instant estimate tool to get a customized estimate of your long-term electricity bill savings and review personalized projections for up-front cost and 20-year solar savings.
Solar improves the value of your home
Millions of U.S. homeowners are interested in solar panels but haven’t taken the time to figure out what it takes to install them. This consumer reality and the undeniable benefits of having solar panels on a home complements recent studies that found property values increase after solar is installed. Thus, the second “pro” of solar can help to level out one of the cons that we discussed earlier – even if you’re planning on moving in the near future, you’ll earn back your solar panel investment and then some when you sell your home. To learn more about the increased resale value of solar homes and find out just how much solar adds to the market value of your property, check out this article on solar and property values.
Solar can pay you money while you’re earning back your investment
Due to a number of awesome solar incentives in the U.S., solar panels can actually turn you a profit in addition to generating bill savings that pay off the cost of the system. Solar renewable energy credits (SRECs) and net metering are two key benefits of solar that allow you to earn bill credits (or even extra cash) as your system produces electricity. In these scenarios, you are being compensated for the electricity that your solar panels generate. If you live in a state where either of these incentives apply, you can expect both immediate and long-term returns from your solar investment.
Protection against rising energy inflation
Many homeowners face anxiety when it comes to their electricity bills because, in most scenarios, there is nothing you can do to control your utility electricity rate. While the cost of solar has decreased by more than 70 percent in the past decade, the cost of electricity has risen by about five percent, and that trend in rising electric cost is expected to continue. Going solar puts you in the driver’s seat when it comes to energy generation. Utilities are quickly adapting to the rising adoption of renewable energy and the U.S. government is quickly increasing its goals for greenhouse gas emissions reduction, which means there’s really never been a better time to be energy autonomous.