The Financial Benefits of Going Solar

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If your home or property is ready for a solar installation, you may wonder how solar energy could benefit your bank account.

You may have heard your friends talk about their energy bills dropping since they switched to solar. But their stories are hard to believe if you have never seen them for yourself.

Don’t worry. We can explain solar’s financial benefits in one easy-to-understand article.

Let’s dive right in!

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Lower Energy Costs and Lower BillsĀ 

Solar energy systems need minimal maintenance; there is minimal solar panel cleaning. As a result, the cost of ownership can be much lower than traditional electricity sources such as natural gas, coal, and nuclear power. The price of solar energy has also decreased over the years, making it more affordable than ever before.

Installing a solar panel system can save electricity bills by capturing the sun’s replenishable energy. With these financial advantages, going solar can be an attractive option for anyone looking to save money and invest in a clean energy source.

Tax Incentives

Incentives can include tax credits, accelerated depreciation, and property tax exemptions. For example, the Federal Investment Tax Credit (ITC) allows home and business owners to deduct 26% of the cost of a solar energy system from their taxes in the year it is installed.

Many states have more incentives to make solar more affordable. For example, some states offer property tax exemptions on the value added to your home from a solar system. These tax incentives can maximize savings and make going solar much more affordable.

Increases Home Value

Solar power provides an extra appeal to potential homebuyers and attracts higher offers. Also, the installed panels can result in a mere 2-4 percent increase in home value. It makes it especially attractive to long-term homeowners.

Solar upgrades can sometimes cause a temporary decrease in home evaluations due to the high capital cost associated with panels. But, the long-term gains are often worth the up-front expenses.

Reduce Losses During BlackoutsĀ 

You can generate electricity with a solar panel system, so grid power outages do not limit you. It also ensures you don’t lose power or your work during a blackout. With the increasing occurrence of blackouts, many businesses are turning to solar panels to remain operational.

Solar panel systems take in solar radiation. Then, turn it into energy needed for operations. As a result, businesses can continue to produce in a blackout even if the grid does not.

Contributes to Greater Environmental Sustainability

Besides saving money, going green contributes to greater environmental sustainability. Solar energy does not produce harmful emissions and uses fewer natural resources than traditional energy sources. As a result, it reduces our carbon footprint and protects the environment from harm.

Solar energy is a clean and renewable energy source that will help reduce global warming and pollutants in the air. It can also be stored for future use and does not need to be purchased from an energy provider. By investing in solar power, individuals can save money, protect the environment and contribute to greater environmental sustainability.

Go Solar: Reap the Financial Benefits

Going solar is an excellent choice for any homeowner looking to reduce their energy costs. It also contributes to the environment and increases the value of their house.

Making the switch eliminates electricity bills, lowers carbon emissions, and provides long-term financial benefits. Take the next step today and contact your local solar specialist to learn more about going solar.