Economic Benefits and Incentives of using Solar Energy
Reduce and Possibly Eliminate Electrical Bills
It does not matter if you own a home, a nonprofit organization, or a business, your electricity costs can drain a large amount of your monthly income and eat into your profits. With a quality, modern solar panel system, you can generate nearly free power (after the initial investment of the solar panels) for the 25+ year lifespan of your system.
Even in situations where you are unable to produce 100 percent of the energy that you consume in your home or business, solar power is going to help reduce your total utility costs. Over time, you will easily recoup your initial investment and save quite a bit of money.
Earn a Higher Return on the Investment You Made
You should not look at solar panels as an expense. This is a smart investment for your home or business. In fact, solar panels offer returns that rivals more traditional investments, such as stocks and bonds. Thanks to the substantial electrical savings you will see on your bill each month, most people in the U.S. will recoup the initial investment they made in their panels within seven to eight years. They will also see a return on investment of up to 20 percent, sometimes more.
Every state has different incentive programs to encourage citizens to start utilizing solar energy. This comes in many different forms. Whether it be a cash rebate, a tax exemption, tax credit or accelerated depreciation, the US government is using different means to help promote and encourage everyone to go green using solar panels. Call one of our knowledgeable consultants at 732-5147-3939 to see what you qualify for.
Protection Against Growing Energy Costs
Perhaps the biggest and most appealing benefit offered by installing solar panels is the ability you gain to hedge the utility costs. In the past decade alone, the cost for residential electricity has gone up by about three percent each year.
When you invest in a solar energy system, you can enjoy a fixed electricity rate. This also means you will be able to protect against any unpredictable increases in your electrical costs. If you own a home or business and must deal with fluctuating cash flow, making a move to solar power will help you predict and manage your total expenses.
Increase in Total Property Value
There are more than a few studies that have shown homes and businesses with a solar system installed have higher property values. They also tend to sell faster than homes that do not have solar panels installed.
Today, proper appraisers are considering solar installations (more than ever before) when they determine the value of the property. Also, as individuals who are searching for a home to buy, learn more about solar systems, the demand for properties that have these in place will keep growing.
In the end, it is clear that making an investment in solar panels will help you make more off the home if you ever decide to sell it in the future.