The Top Benefits of Going Solar in 2019!
Since first becoming popular in 2005, the solar industry has experienced steady growth, rising 13% year-over-year in the United States alone. Much has changed during this time. Consumers are more aware of how their actions affect the environment, seeking out ways to do their part. The price of going solar has dropped significantly, allowing many to invest with little to no upfront costs. In fact, experts predict that the number of solar installations in the United States will more than double over the next four years. Whether your motivations are environmental, financial, or a combination of both, the list of reasons to go solar seems to grow daily.
Electric Bill Savings
Electricity costs comprise a great portion of one’s monthly budget. Wouldn’t it be great if you could put some of that money back into your pocket? Great news – you can! Recent reports indicate a savings of over $100 per month, just from the installation of solar panels. Over the course of 20 years, this equates to over $30,000.
While the initial investment can be significant, homeowners start seeing a 20% ROI immediately. The emergence of solar leasing and solar purchase power agreements have made it even easier to invest. For little to no money down, a provider will install, monitor, and maintain your solar system. In return, you simply pay them for your electricity – a significant amount of savings over what you would have owed the utility company. Homeowners choosing to pay cash for their solar panels report a ROI of 5-10 years, depending upon location.
Safeguard Against Rising Energy Costs
Rising electricity costs make it difficult for home and business owners to forecast and budget for future expenses. Going solar can fix your electricity rate, evening out these unpredictable fluctuations.
Increased Property Value
As more consumers begin to understand the advantages of going solar, many are adding this to their list of desires when house hunting. In fact, recent studies indicate homes with solar panels sell 20% faster, with an average increase of $17,000 in home value.
Through the Federal Solar Tax Credit, homeowners are getting 30% rebates on installation and equipment. This, combined with state and local rebates, offers a total savings of over 50% off original price.
Solar panels come with a 20-25 year performance guarantee. Manufacturers guarantee a minimum performance of 80% after 25 years, with most still producing electricity after 40 years.
Protect the Environment
Solar is an effective way to reduce your carbon footprint. A residential solar panel system eliminates an average of 3-4 tons of carbon emissions annually – the equivalent of planting over 100 trees.
Solar is the first step in eliminating the U.S.’s dependence on foreign energy. Consumers have a unique opportunity to protect our country against price fluctuations, boosting our own economy in the process.
Boost U.S. Economy
Since solar-related jobs cannot be outsourced, going solar is an effective way to keep your money in the U.S. Recent reports indicate they represent 1.2% of the total jobs in the United States.