If you’ve been toying with the prospect of installing solar panels on your home, then you’ve come to the right place. Residential solar power has become increasingly popular all over the country in the last decade or so. As prices drop, more and more people are able to afford solar panel installation and contribute to the betterment of the planet, while lowering their bills at the same time. Still, the cost of solar panels still scares many people off. In this post, we’re going to look at some of the benefits of solar panels so you can see how they outweigh the cost. Read on and you’ll realize that there’s a lot more to going solar than meets the eye.
Reduce Your Energy Bills
One of the most obvious benefits of making the move to solar power is that you can reduce and potentially eliminate your energy bills. Depending on how many solar panels you choose, with a company like Blue Raven installation, you could also end up generating more power than you actually need, which you can then sell back to the utility companies.
When you take this macro view of the effect of your solar panels, you’ll see that the upfront cost, which initially seems so daunting, actually isn’t that bad. There are other ways to save as well…
Half Your Installation
When you decide to purchase solar panels for your home, you’re immediately entitled to rebates and tax credits. The biggest one is the federal investment tax credit (ITC), which entitles you to a 26% tax credit for your solar panels (until the end of 2022 when the credit goes down to 22% until 2024 when it is scheduled to end). If you buy several panels, this amounts to many thousands of dollars that you’ll get back.
There are also state and municipal rebates that work in a very similar way to the ITC. All told, you can gain around half of the cost of your solar panel installation back through these credits. Combined with your energy savings, you’ll break even on your solar panels very quickly.
Sell Power Back
Once you start generating power with your solar panels, you’ll begin to earn solar renewable energy credits (SREC’s – you get one per 1,000 kWh of energy produced). Because the government mandates that utility companies have to generate a certain percentage of their energy through solar power, you can sell your SREC’s to them for compensation.
Helping Your Environment
Our planet is in dire need of people to make the jump and install solar panels. Lowering our own carbon footprint helps us to decrease our reliance on fossil fuel producers.
Solar energy is one of the fastest-growing industries in the world and the more people that go solar, the cheaper it will become. Get in on it now and take advantage of the many financial incentives.
Many Benefits of Solar Panels
Now that you’ve seen the many benefits of solar panels, you can purchase yours and have them installed ASAP. Between saving your bank account and the planet, they’re well worth the price of installation, so don’t wait any longer.
If you found this post helpful, come back again for more on the environment, health, and travel.