As the future becomes greener, a growing number of individuals and businesses are striving to make the switch to more renewable sources of energy. Although many have been hesitant to make these changes, primarily due to the high cost of installation and lack of access to adequate support, solar energy has quickly become an attainable goal for the average business or homeowner.
This increase in popularity and access has caused the initial costs of solar panel installation to drop dramatically. Additionally, as more people go into the business of renewable energy, access to solar energy specialists who can manage your system and needs becomes less of an impediment to progress. Whether you’re ready for solar energy to lower your electricity price or just to do your part in conserving the environment, there are countless monetary advantages to making the switch.
1. You Won’t Have a Power Bill
One of the greatest perks of switching to solar energy is that you are no longer beholden to a power company. Take charge of your own energy regulation and maintenance, and kiss those monthly power bills goodbye.
It is worth noting, nonetheless, that your power bill may not be eliminated in its entirety. Depending on your setup, you may not have any way to store energy other than relying on a traditional backup. This means you may still have to maintain a secondary way to power your utilities and major appliances. Regardless of your power needs, your bill will be lower than it could ever be
2. Your Rates Are Fixed
Electricity prices are notoriously sporadic. Energy use is rarely uniform throughout the year, and different seasons see different types of power needs. This is especially true if you have any utilities powered by gas, which may fuel your heater and therefore lower your winter power bill. Once summer returns in full force, however, your bill may skyrocket to an unmanageable price. To prevent this kind of inconsistency, as well as random company-wide rate increases, take charge of your own electricity needs with solar energy.
3. You May Get a Tax Credit
Many states offer monetary incentives for transforming your home into a renewable energy mecca. Since you will be saving both money and environmental resources, you may be eligible for a tax break as compensation for your commitment to green progress. Some regions may offer rebates in the hundreds, while others offer benefits in the thousands. Whether you use a paid program or a free tax filing program—as long as the program is reputable—they should be updated with the latest tax breaks based upon your geographic location. Aside from that, you can always research the tax code yourself or speak with a certified tax expert.
4. Your Home Value Will Increase
Since solar energy is the way of the future, those in the market for a new home will be on the lookout for updated abodes that are already equipped with solar panels. This means sellers who use solar energy can focus on that as a major selling point, and they can both ask for and expect to get more money as a result. If you ever plan to sell your home, then, committing to solar energy can raise your ask price by thousands.
5. No Outages Means No Productivity Losses
One of the worst parts of power outages is how much they interrupt normal, day-to-day life. At home, you may be limited in what you’re able to do with your time, delaying chores and projects that you can’t afford to delay. The inconvenience is even more exaggerated in business settings, where a power outage can mean lost productivity and thus lost wages.
6. You Can Charge Other Appliances
If you are able to make or store enough energy, you can supply power to more than just your home. Like green houses, green cars are becoming more and more prevalent due to their environmental benefits. Solar panels can charge electric cars, an immensely helpful feat, as the charging process can take many hours to complete.
7. You Can Sell Excess Energy
Perhaps the most surprising monetary benefit of solar energy is that you can sell any excess energy you produce. Since your home becomes its own mini power plant, you can arrange for your unused energy to supply other homes or areas in return for payment. This can help mitigate some of the costs of initial installation and maintenance.
If you’re thinking of taking the plunge into the world of renewable energy, solar power is an easy way to decrease not only your carbon footprint but also your monthly bills. Although the amount you save or earn will vary from state to state, relying on solar energy can result in savings that both cover the cost and put a little extra in your pocket.