Have you ever wondered about the benefits offered by solar energy? If yes, you are certainly not alone. A good number have thought about the possibility of going solar, but most of them seek assurance on whether the benefits outweigh the costs. The number of installation has been steadily increasing over the years, but this trend has plateaued in recent years. This does not mean that people are turning away from solar, only that the numbers are of annual installation have stagnated.
Here are some reasons why you should have a solar panel on your roof.
Value for Money
The initial costs involved in installing a solar panel can be a huge turn-off. An average solar array costs close to $ 10,000. However, this can help you reduce your monthly utility bills by $50 – 200. This implies that you will cut down your annual energy bills by $ 600 to $ 2400. It means that the unit might pay for itself within five years. From there, you can enjoy free energy until its life ends.
You Will Earn Tax Credits
If the monthly utility savings do not sound convincing, the possibility of getting some tax credits might do. In the US, anyone owning a solar panel is gifted with a 30% federal solar tax credit. This incentive applies to both commercial and residential properties. The benefits offered by this tax credit only become real during the tax-return season.
Enhances Curb Appeal
It is a known fact that most prospective home buyers are drawn to homes with solar panels. Most of them will be willing to spend even more money on a property with a solar panel. Thus, if you are planning to sell your home in the future, investing in a solar panel can be a smart investment decision.
Solar energy gives you a sense of energy security. Utility companies might be dissolved, generators can fail, but the sun is here to stay. Notably, the amount of solar energy supplied by the sun is more than enough to meet the world’s energy needs. Solar panel only needs a minuscule amount of this energy to power your home. This also helps you decrease your reliance on energy providers.
You have every reason to take advantage of the benefits that come with solar panels. Like any investment, you should calculate the ROI offered by these units before making a purchase.