Solar energy has come a long way from where it was just a decade ago. In the early 2000’s people saw it as more of fringe, niche technology. The panels were pretty expensive and nobody really knew much about how to invest in solar energy.
Fast forward 20 years and solar power is spreading like never before. It’s no longer reserved for the government or the wealthy.
Solar panels have significantly reduced in price and everyone and their uncle is looking to invest in solar energy. Let’s take a look at how investing in a residential solar system for your home can benefit you.
1. Investing in Solar Will Slash Your Electricity Bill
The main benefit of installing a residential solar system is that it can significantly reduce your electricity costs resulting in savings of tens of thousands of dollars or more over the next twenty years.
The whole purpose of solar panels is to soak up light from the sun and convert it into electric energy which you can use to power your home.
Instead of paying a large monthly bill to the electric company, you can enjoy lower-cost and eventually free solar energy for as long as your panels keep going. Now, you may be asking yourself the question: how long will my solar panels last?
Quality solar panels come with 25 year product warranty and a 25 year power warranty. Expected lifespans go far beyond that.
Once your solar systems is paid off, you can enjoy FREE electricity for the rest of the life of the solar power system.
So if you do it right, you can actually make a profit by going solar. Just be sure to work with a reputable company that is not only knowledgeable about installations but also in service repair for when you need it.
2. It will Raise the Value of Your Home
Speaking of the numerous benefits that come back around to you after a residential solar system addition, increased property value sits just under immediate and long-term savings on electricity costs.
In normal to good real estate market cycles you’ll be able to get more your home with a solar power system than without.
Studies show the average homeowner is willing to pay an average of $15,000 more for a home that has a 3.6kW solar system installed. This could continue to rise as the pressure to go solar increases every day.
Solar panels could be one of the house upgrades that many people are willing to pay extra for in the near future.
3. It’s Good for the Environment
Obviously, any reasonable person is going to think of the needs of their family before the needs of the earth, but what if you could do both at no extra cost to yourself?
Incorporating a residential solar system into your household will help you save money and improve the value of your home as an investment while also contributing to environmental health at the same time.
What to Think About
You might be peripherally aware of the improvements in solar technology, but once you understand the return on investment (ROI) potential, it really becomes a no-brainer.
Take advantage of a FREE Solar Analysis, which looks at your electricity usage and costs and your property’s roofs and electrical system to see if solar energy is the right choice for your home.
Take a deeper dive into solar with our article, “Are Solar Panels Really Worth It?“