The Top 4 Benefits Of Solar Panels
Solar panels provide an excellent way to generate clean and free energy, which goes a long way in offsetting huge energy costs, among many other benefits. Going the solar way also helps build energy independence while supporting local businesses too. Find out more about the benefits of solar from the Josco energy hub.
1. Save On Energy Bills
Solar energy, unlike fossil fuels, is 100% renewable. You can thus be sure your solar panels will generate electricity as soon as the sun is up. Although these panels are greatly dependent on sunlight, most solar panels can generate energy even on a cloudy day for as long as some light is passing through. Thus, you can have your solar generation system connected to the grid, whereby any excess energy produced can be traded with the utility company. This is particularly useful for individuals living in sunny states receiving more than 3 hours of sunshine every day. The best thing about going solar is that the extra energy generated and traded with the utility can be used at night or when your energy demand increases past the installed solar system’s capacity.
With your home generating its electricity, your energy bills will be significantly lower, and sometimes close to none. However, this depends on how much ‘extra’ energy your solar panels can generate within that period. Nevertheless, simply having a solar system installed will see you save lots of money per month.
2. Irresistible Tax Credits And Rebates
This is one of the most significant benefits yet of investing in a solar system. Investing in solar equipment will see you enjoy a tax credit of up to 30% of its total cost. In other words, a $25,000 solar system will see you save approximately $7,500 in tax credit. Solar Renewable Energy Credits (SRECs) and state and local rebates will help reduce the costs even further. These SRECs are generated annually, meaning you can redeem them with utility companies for even more impressive returns on investment.
With the Renewable Portfolio Standard Expansion Act 2016 signed by Muriel Bowser, the D.C Mayor, consumers will be able to enjoy 50% in a renewable portfolio and 5% solar requirements by 2032. The bill is aimed at helping low-income earners and homeowners to invest in solar systems for their homes. This has seen D. C’s solar industry see a growth of more than 170% in the past year alone.
Solar systems have a payback of around 3.5 years, with solar panels themselves having a useful life of 25 years and 10 years’ worth of warranty. You thus get to enjoy more than 20 years’ worth of free electricity from the solar panels, among additional perks that come with the same. This makes solar energy an economically profitable and socially responsible investment.
Most solar panel suppliers and installers provide free installation for the panels and even charge a reduced rate for any grid energy you might use. This means the company will be ‘leasing’ your roof space and giving you a discount on energy consumed as well. This is an irresistible offer for most homeowners, especially those not in a position to fund the entire installation process. The installer, however, benefits by collecting SRECs from these panels. Wherever you are, there’s a good chance you’ll get tax credits for going solar – take advantage of this opportunity today.
3. Realize Saving From Day One
Consumers start realizing savings from the moment the solar system is installed in their homes. This is because the solar panels generate energy, thus eliminating unforeseen expenses, including transportation and residential energy. According to research, the average person spends $3,052 on energy alone. Simply having solar panels installed on your home can see you save much of this money every year.
Homes with solar panels installed have a higher resale value as compared to those that don’t. Simply having the system installed in place can see your home’s resale value increase by around $5,911 per installed kilowatt. The average home, however, has a 3.1-kilowatt system installed, giving your home a clean $18,000 resale value boost.
Solar panels protect the roof and everything under them from harsh elements, including snow, rain, and debris. This not only means your roof will last longer but also improves its energy efficiency in the hot summer months as well. The solar panels absorb all the heat from the sun, leaving your home cooler than it would be with a bare roof.
4. It Is Safe and Eco-Friendly
Solar panels harvest clean energy from the sun. Investing in a solar system should thus reduce your carbon footprint even further, hence good for the environment and the planet in general. This is unlike electricity produced from fossil fuel that emits harmful gasses into the atmosphere and some of the main culprits for climate change and global warming. Fossil fuels are also a non-renewable source of energy, a reason for their volatility especially cost-wise.
Solar energy, alongside other renewable sources of energy, isn’t harmful to the environment nor its inhabitants. Reduced dependence on fossil fuels could thus help bring healthcare costs down and even reduce premature mortality rates. This is because there would be no more water and air pollution, which have affected human health for years.
Fossil fuels require vast water resources to produce, one of the reasons for mass water pollution. However, solar energy is the direct opposite; very little to no water is required to generate the energy. It thus doesn’t cause water pollution, nor does it stain the limited supply and source of clean water.
Unlike natural gas, coal, and nuclear power, solar power continues to work even when there’s a heatwave or drought. Nuclear power, for example, needs to be kept cool at all times, with lots of water used to keep the systems cool for safe energy production. There’s thus very little to no risk of generating electricity using solar panels in hot weather conditions.
Solar power has created thousands of jobs in the clean energy sector. The government has even created room for innovativeness, especially for companies producing solar panels and clean energy or looking to venture into renewables. This can be seen through the budget cuts to DOE and EPA as it encourages consumers to switch to clean energy.
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