We all know that solar power is a great way to reduce our carbon footprint and make savings on our energy bills, but with the initial setup costs being reasonably high, you may be wondering whether it makes a worthy long term investment. To help you decide, here are some advantages of making the switch to solar:
Incentives: state and federal
In many parts of the country, there are a variety of tax rebates and credits, that property owner’s can avail of when they make the switch to solar. Helping home and business owners recoup their investment relatively quickly, should any value also be added to your property as a result of the solar system (and in most instances, properties do increase in value), this will be not be included in property taxes.
Utilities: a reduction in costs
Even if you don’t exclusively use your own solar power (this is only possible with solar battery storage) and still rely on the grid, you’ll make savings on your utility bills, and depending on your energy usages as a household (or business), this can be significant. With solar panels capable of performing well for as long as 25 years, you could be making significant energy savings over a long period of time.
Payback period: as little as 8 years
While not every home or business owner will break even on their investment in as little as 8 years, it’s entirely possible to do so, and from that point on, your energy savings increase in significance exponentially.
Below are some of the factors that may impact an individual’s payback period:
Sunlight: free, renewable and in abundance
Depending on non-renewable fuel sources to power homes and businesses is always going to be risky, as prices can fluctuate due to a wide range of circumstances. With sunlight being free, in abundance and 100% renewable, however, there is no risk involved whatsoever.
Maintenance: there’s barely any!
Solar panels may seem complex, but while the science behind them may be, the panels themselves are simple and easy to take care of. Aside from the occasional cleaning and clearing of debris, such as leaves, snow and dust etc. there’s very little else you need to do to ensure that they keep performing at their best for decades to come.
Property value: it goes up
In many instances, properties with solar systems installed – whether residential, industrial or commercial – sell up to 20% faster than those without solar, and oftentimes, for as much as 20% more, too. Looking for a way to sell your home or business quickly and for more than it’s original evaluation? Go solar!
Making the switch to solar is still a big commitment, even with the facts at hand, but there are so many compelling reasons to do so, that not making the switch seems somewhat foolhardy. To know more about the long term value of going solar, talk to a local installer today.
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