6 Unseen Benefits of Installing Solar Panels on Your Home
With each passing day, it seems as though more and more homeowners are installing solar panels on their homes. They’ve caught onto the fact that solar panels are a great to save money while also making good sustainable decisions–similar to using energy efficient air conditioners. If you haven’t yet joined the trend but are thinking about it, here are some reasons you might want to take action today.
Save Money Each Month
Several homeowners think that the cost of installation is not worth it when it comes to solar panels. However, you end up saving far more in the long run if you choose to make the investment now. In fact, when you add solar panels to a house, you can expect to start saving money from the very first month. Studies show that the average homeowner can save more than $100 each month. In a year, that is $1200. For 10 years, you could save more than $12,000 or over $25,000 in two decades.
Little to No Upfront Cost
With the option of leasing or using solar purchase power agreements (PPA), homeowners don’t need a lot of money upfront to have solar panels installed. With PPA, you don’t have to pay for installation, maintenance or repairs. Your only cost is the actual cost of electricity, which is less than what you would owe the utility company for your electricity bill.
Increase the Value of Your Home
You may be worried that solar panels will decrease the value of your home, but the opposite is actually true. Solar panels reduce the cost of electricity, which appeals to buyers. They will see the value of buying a home that already has the panels installed. The market value of the property will go up, which means more money in your pocket when you decide to sell your home. This is lasting value, unlike some other home improvement projects that diminish over time. Estimates from experts suggest that you can add from $15,000 to $30,000 in value to your property with solar panels, and this value lasts for many years because of the lifespan of the panels.
Incentives Save Money
The federal, state and local governments often provide incentives for people who install solar panels on their home. Many of these benefits are for those who buy their panels outright, but it can vary. In fact, it’s possible to cut the costs in half when you add up all the incentives. This means that a $30,000 solar panel installation could cost only $15,000 with the incentives offered.
No Risk for Performance
While solar panels do come with a warranty that lasts 20 to 25 years, it’s very rare that you’ll ever have any problems with them even beyond that warranty’s end. They tend to last for several decades and even when a panel malfunctions, the other panels remain functioning at a normal rate. In fact, many estimates show that the panels will still be providing electricity for 35 to 40 years after installation.
Good for the Environment
While your first focus might be on costs and savings, it’s important to think about other benefits solar panels can provide. They offer a cleaner form of electricity than a utility company and they help reduce the amount of carbon dioxide released into the air, which can be harmful in excess.
Going solar allows you to live independently and to save money each month while enjoying the benefits of electricity. With so many options available, you’re sure to find the perfect company and plan for your budget and needs. Solar energy is here to stay and it can provide many unseen benefits today and for the future.