It's no secret that solar energy is a great investment. With a return on investment (ROI) of 20 to 1, it's no wonder why so many people are turning to solar energy to power their homes. But is solar power actually worth it? The answer is yes! There are several factors that make solar energy a worthwhile investment, from increasing the value of your property to saving money on energy bills. When it comes to increasing the value of your property, studies have shown that homes with solar energy systems actually sell for more than homes without them.
Across the United States, switching to solar energy could increase the value of your property even more than a kitchen renovation. Another factor to consider when deciding whether or not to invest in solar energy is the payback period. This is the amount of time it takes to recover your initial investment. Solar panels can help you save enough money on energy bills over time to offset upfront costs.
How much you save each month depends on the size of your solar system, your home's energy consumption, and other factors. If you're looking for an alternative to traditional solar panels, consider options such as community solar energy. This doesn't lock you up in your roof panels for decades and there are some battery solutions to provide power during these times, although they tend to be quite expensive. But overall, home solar systems provide significant financial benefit to homeowners through energy cost savings.
The first step in identifying your savings potential with solar energy is to know how much electricity you consume and the rate you pay for it. As with any expensive purchase, buying solar energy requires a lot of research and consideration, including a thorough review of companies in your area. When you use solar energy, you reduce or eliminate your monthly electricity bill, so the amount you pay for electricity substantially affects your savings. SunPower professionals adapt solar installations to roof configurations and their panels are the most efficient on the market, meaning you'll need less on your roof.
Solar companies are used to working with different types and styles of roofs and offer free consultations to plan how a solar system will best fit your property. Determining whether or not to install a photovoltaic solar system may seem like a daunting task, but it's important to remember that such a system is a long-term investment. While DIYers might think that not being able to install solar energy on their own is a disadvantage, for most homeowners, getting experts to take care of the planning and technology for using solar energy turns potentially complex solar installation into a very simple process. In addition to installation costs, there are some additional costs associated with operating and maintaining a photovoltaic solar panel. Your current electricity bill is the most important factor in determining how much you'll save by installing solar energy. Finally, don't forget about government incentives when considering whether or not to invest in solar energy.
The generous 26% federal tax credit for solar energy can help offset some of the upfront costs associated with installing a photovoltaic system, as well as any additional local rebates and incentives you can take advantage of.