Solar energy was invented in 1893 but only got popular by the 1980s. During this time, solar power was available worldwide, and tax credits and federal acts were set in place to encourage more people to invest in solar energy. But should you take the same route?
Many are hesitant to install solar panels in their properties because of the upfront cost. On average, you need to pay $18,500 for a 6kW solar panel to power a 1,500-square feet home. The amount might seem expensive, but the benefits you can get from this investment will surely outweigh the costs in the long run.
Here are five reasons why you should invest in solar panel roofing for your house ASAP.
1. Reduce or Eliminate Energy Bills
Paying energy bills every month is a given responsibility among homeowners. However, some struggle financially, given that energy bills also increase due to uncontrollable factors, such as extreme climate and rising electricity rates set by the world market.
One of the biggest reasons why you should invest in solar panels for your home is because they can help reduce or eliminate energy bills. This technology generates free power from the sun, which means that you can enjoy all of your appliances at home without relying on the national grid.
Aside from electricity, solar panels also generate heat. This will help cover at least 50% of your hot water heating requirement at home. This can significantly reduce your energy bills as heating water at home takes up about 25% to 30% of your total energy bills.
2. Earn Rebates and Tax Credits
Do you plan on becoming an accredited investor but don’t know how or where to start? Are you looking for ways to earn money on the side? Investing in solar panels for your home can help you with these as it qualifies you to earn rebates and tax credits.
Many federal, state, and local governments worldwide offer incentives to encourage more people to maximize solar energy in their properties. Some of these incentives include:
- Cash rebates: Many states, municipalities, and utility companies offer rebates after installing a solar panel. These rebates reduce your system costs by up to 20%;
- Performance-based incentives: As the name suggests, this incentive grants you a per kilowatt-hour credit for the electricity that your solar panel produces;
- State tax credits: Some states provide tax credits once you install a solar panel in your home. The amount varies per state, so make sure to check with the federal government.
3. Increase the Value of Your Home
The housing market is competitive, which is why you’ll likely have a hard time finding a buyer if you decide to put your house on sale in the future. Often, you need to shell out more money for marketing to ensure that your property stands out.
A solar panel system can significantly affect the value of your home because the energy savings it provides translates to more valuable property. According to the National Renewable Energy Laboratory, for every dollar you save through solar energy, the value of your home increases by $20. This will increase your return on investment and make it easier for you to sell your home.
4. Better for the Environment
The energy you get from the national grid is harmful to the environment. The process of converting fossil fuels into energy releases air pollution and uses large amounts of water resources. Electricity production also generates greenhouse gases.
Solar energy is better for the environment as nothing about it pollutes or damages Mother Nature. Solar panels produce clean energy without emitting greenhouse gases into the environment. This technology doesn’t need any other natural resource other than the sun to produce energy, making it more eco-friendly than energy produced by utility companies.
5. Create Jobs and Economic Growth
Homeowners should be concerned about employment and economic growth. More job opportunities in your state or country mean a better economy. This results in a higher purchasing power and better disposable income for the families.
When you invest in a solar panel for your house, do you know that you’re creating more jobs? The national economy can be helped when more and more people invest in solar panels because it creates job opportunities for skilled workers and encourages entrepreneurs to open solar companies. This enables the economy to grow, which can eventually improve the quality of your life.
Work with Professionals
Convinced that solar panels are indeed a cost-effective investment for your home? If you are, start looking for trained and experienced solar photovoltaic installers. They have the skills and equipment to properly install solar panels to your home, hook them up to the national grid (for rebates and incentives), and ensure that you can get the most out of this investment!
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