Why Solar Panels Are an Essential Investment for Every Homeowner

Are you tired of high energy bills? Perhaps you also want to contribute more positively to the planet. Whatever your reason, solar power is the solution for you. More Americans each year are exploring using alternative energy sources rather than contributing to the exploitation of fossil fuels.

According to the Solar Energy Industries Association, the US has surpassed over 2 million solar installations, and that number is projected to double by 2023. The reason behind this is simple: solar energy is sustainable, renewable, and plentiful. It is also cost-efficient.

Today, GGT explains the advantages of residential solar power and offers you some tips to help you leverage it for everyday life.

Benefits of Solar Power

A Man Installing Solar Panel
Kindel Media

Switching to solar power not only benefits you economically but does wonders for the environment too. Following are some of the main benefits of harnessing the power of the sun.

Tax Incentives

In addition to contributing to the environment, you’ll be making significant savings with tax credits and rebates. You will get 30 percent of your total costs back through a federal income tax credit, in addition to state and local rebates such as Solar Renewable Energy Credits (SRECs). You may also qualify for the FHA’s Energy Efficient Mortgage program. This scheme enables families to save money on utility bills by helping them finance energy efficiency improvements within their mortgage. Thus, even the simple act of incorporating eco-friendly home modifications can help finance your mortgage, as well as save toward your down payment.

Tax Documents on the Table
Nataliya Vaitkevich

Increased Value

Homes with solar panels are appraised higher than homes without and can sell 20 percent faster! You will also be free from worrying about electricity rates going up, which is an increasing trend all over the U.S. In addition, you can rest easy knowing that even when the power grid fails, you will still have power coming in. No more outages or power blackouts!

Sustainable Contribution

Using solar energy reduces your carbon footprint and contribution to harmful emissions. It also veers away from depleting exploited energy sources, instead, focusing on the most renewable and abundant energy source in our environment. To put it into perspective, installing residential solar power is equivalent to planting 100 trees a year!

Cost of Solar Power

Aerial View of Houses with Solar Panels Along the Road
Kindel Media

Solar power can be capital intensive, but the good news is that the cost is entirely upfront, with little to no maintenance expenses later. You will need an inverter, metering equipment, cables, and batteries to install your solar panel. Everything included, you can expect to shell out between $5,000 and $12,000 after federal tax incentives. Considering that solar panels are warrantied for 25 years and last even longer than that, homeowners make significant energy savings by utilizing residential panels. According to Ecotality, most homeowners see savings of up to $1,100 a year.

Installing and Maintaining Solar Panels

The most common location for the installation of solar panels is the roof. While standing metal roofs are ideal for easy and cheap installation, any roof with adequate access to sunlight will do. Installation technicians will set up scaffolding to mount and wire the panels, after which the inverter will be connected to the consumer unit to generate electricity.

Side view of focused young man in uniform and hardhat checking setup of solar panels

Gustavo Fring

Solar panels require very little maintenance. Just make sure you have a great warranty plan and that your panels are clean to absorb sunlight efficiently, and you’re good to go! You can expect to utilize the power from your panels for most day-to-day functions. However, most homes with solar panels do fall back on the power grid occasionally when access to the sun becomes limited.

A solar panel system is a superb long-term investment — both for your finances and for the environment. It is the ideal solution for those wishing to go “green,” as well as take advantage of tax benefits and advanced sustainability technologies. The power of the sun is unparalleled, so harnessing it to your benefit is the ultimate step towards a better future.

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