Are you thinking of going solar but need a bit more convincing? We can help.
Solar power has been steadily increasing in popularity over the last few years, due in part to the falling costs of installation and the rising fear of the effects global warming is having on our planet. While it’s great that more people are able to afford solar panel installation, there’s still a huge number of people that are put off by installation costs.
We’re here to provide some more information on solar panel installation that might change your mind. In this post, we’re going to look at 5 financial benefits of solar panels that’ll make you realize how quickly you can offset installation fees. Read on and join the growing community of people going solar in 2022 and beyond.
1. Lower Power Costs
One of the most obvious benefits of going solar is the fact that your monthly energy bills drop considerably. If you install a big enough system on your home, then you could eliminate your electricity costs altogether. You can do some simple calculations to figure out how many solar panels you’d need to offset your energy usage.
Talking to dedicated solar professionals, like the people at https://blueravensolar.com/georgia/atlanta/, can help you better understand the costs associated with installing panels and how they can reduce your energy bills.
2. Factoring Solar Incentives In
When you’re looking at the cost of buying and installing panels, it can look financially daunting. Seeing numbers over $20,000, especially, can make you feel like solar is actually not as attainable a goal as you thought, but you have to factor everything else in as well.
For instance, the federal solar tax credit puts a 26% dent in the cost of installation right off the bat. This incentive is offered for anyone purchasing solar panels before the end of 2022 when it goes down to 22% until 2024, when it disappears (barring an extension).
There are also state and municipal rebates to consider in addition to the solar tax credit. Every state differs in the way it incentivizes solar power, but when you add all of the incentives up, you can cut your solar installation in half.
Solar renewable energy certificates, or SRECs, are given to solar power users for every 1,000 kWh of power their panels produce. As you accumulate SRECs, you can sell them back to the state, as each state is required to produce a certain amount of its electricity through solar power.
This is a great way to continually make money on the side from your solar panels.
4. Home Value Goes Up
Lastly, by installing solar panels on your home, you’re increasing its value should you ever decide to sell. Houses with solar panels are shown to sell faster and for more money on average, when compared to homes without solar panels.
Solar Panel Installation Is a No Brainer
Now that you know about the financial perks of solar panel installation, you can start crunching the numbers to figure out how many panels you should install. Solar panel installation is becoming more and more of a no-brainer when you think about the financial benefits and the reduced environmental impact that you’ll have. Go solar and don’t look back.
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