Since 2012 the solar market within the United States has grown 76%. Why are homeowners now choosing to go solar these days? Here are the top 10 benefits for going solar.
1. Save Thousands of Dollars
Adding solar panels to your home can bring in monthly savings above $100 depending on your state. If you were to have panels on your house for over two decades, that would translate to over $30,000. In Hawaii some residents on average can save $64,000 in the first 20 years.
2. Saving Start with Day 1
It is now easier to save money on your solar panels with very little little, or even no money at all. A lot of homeowners choose to finance their solar panels with the pay-as-you-go financing option. Pay-as-you-go is an excellent option for many homeowners. However, it is recommended that you should pay in cash. Though a home equity loan, or a second mortgage if you can. This will end up bringing in more long-term savings.
3. Low Payback Period
If a homeowner decides to go with the cash option, the payback period within many cases is less than ten years. Depending on the homeowners state.
4. Increase the Value of Your Home
Purchasing a home with solar panels indicates that the home will have lower electricity costs. Solar panels increase a homes attractiveness on the market. Homes with solar panels sell 20% faster and for 17% more money, according to the National Renewable Energy Laboratory (NREL).
5. Solar Panel Incentives
As of 2009, the $2000 cap on the Federal Solar Tax Credit was lifted. You get a 30% of the total system costs back for equipment and installation. You would save $7,500 on a solar system worth $25,000. Select States offer rebates, and even local rebates.
6. Secure Investment
Utility companies are notorious for their fluctuating and unreliable electric prices, with an upward trend. Solar panels and simple math can be used to calculated how much electricity will be generated and price.
7. Guaranteed Performance
Solar panel manufactures include a 20-25 year warranty with their solar panels. Industry standard guarantees 80% performance after 25 years.
8. Saving the Environment
Homeowners typically go solar because it makes sense from a financial stand point. With that being said, the environmental benefits are also clearly worth it. The US is in second place in the world with an annual carbon dioxide emissions at 17.9%.
9. Energy Independence
The United States relied on net imports for about 40% of the petroleum that was consumed in 2012. Going solar can help to reduce US dependence on foreign energy. It is inevitable that we will run out of oil, coal, and natural gas.
10. Solar is Easy
Shopping for is now a lot less complicated than it was back then. You can easily reach out to select consultants that can answer any questions you have, and what is the best fit for you and your family.