The solar industry has grown exponentially in recent years. Solar is more accessible than ever before as the cost of installation has dropped more than 70% in the last decade. Solar power is also one of the most reliable forms of electric generation available, with zero fuel costs and zero emissions.
The benefits of solar are mainly financial and environmental. The ability to receive lots of savings whilst generating clean energy is why switching to solar power is popular amongst homeowners today.
In this blog, we’ll be breaking down 8 reasons why solar panels are a wise investment for you and your family.
The top 5 reasons to go solar by the Solar Education Foundation
The 8 reasons to go solar
Put an end to your utility bill
Let’s be honest; we hate electric bills.
They’re a necessary evil, there is not much we can do about the rising cost of energy. Fortunately, solar panels are proven to lower your electricity bills. The price-per-watt continues to drop as solar power becomes more widespread, and the technology advances.
Solar panels can reduce your utility bills to a few dollars because they generate solar energy with the sun’s rays. This energy is collected and converted into electricity through the solar cells built in your solar panels. You can use the electricity for many purposes such as powering appliances, cooking, heating water, lighting up a room or powering transportation when necessary.
Net metering plays a big part in eliminating your energy bills. This process includes exporting solar energy you don’t use back to the grid during moments of high production. The amount of net solar energy generated during a billing cycle is compensated and you will be given a credit which can be used when you need to draw electricity from the grid.
Give yourself peace of mind and put an end to your utility bill by going solar.
You’ll save tens of thousands of dollars in the long-term
Going solar costs a one-time fixed installation fee, and the solar energy they produce is free. This means that solar panel systems can save you tens of thousands of dollars in the long run.
Setting up solar panels can save you money over your lifetime, especially if you manage to get federal solar tax credits and solar incentives. The average homeowner receives a 20% return on their investment, and in some cases, much more! In short, the solar panel system will pay for itself, which is also known as the payback period.
To maximise your investment, you will want a solar panel system that is reliable when it comes to performance and durability. In addition, if you want to save money over time, make sure your solar provider has the best technology possible at an affordable price. Some things to consider when choosing solar panels:
Solar panel efficiency
The solar panels’ efficiency is one of the most important factors to consider when planning a solar panel installation. The average conventional solar panel has an efficiency of 15% to 20%. In comparison, high-performing solar panels like SunPower A-series 420 W have an efficiency of 22.5%, the highest efficiency of a residential solar module. Unfortunately, all panels are subject to degradation over time, and solar efficiency will drop as solar panels wear out.
The degradation rate of solar panels refers to the amount of power generation over time. It means approximately how much a panel’s efficiency will decline due to wear, exposure to heat and sunlight, and other factors. Regular solar panels have an expected degradation rate of 0.5% per year.
Solar panel warranty
Most solar manufacturers offer warranties for their products, but the length and type of the solar panels’ warranty differ. Therefore, it is crucial to rely on high-quality solar panel manufacturers because the solar panels will have a long life expectancy.
The lifetime of the solar panel
Solar panels can last between 25-30 years before they need replacing. Therefore, it is essential to choose solar panels with solar cell technology which resists high moisture levels. For example, the panel we referenced above, the SunPower A-Series 420 W, has been thoroughly tested by external researchers and lasts for 40 years.
No-down-payment on your solar panel system
Solar panel systems are becoming more accessible than ever before. Installing solar often means that you are not required to make a down payment making the solar panels a part of your monthly payment plan. This allows homeowners to save money and go solar without paying a large one-time sum of money all at once. In addition, there are a few financing options to choose from, such as cash, loan, or lease.
No-money-down helps you invest in an affordable, renewable energy source for your home without having to spend a lot of money all at once.
Enjoy a 26% tax credit and more incentives
Currently, the federal government offers an investment tax credit (ITC) of 26% to homeowners for solar panel system purchases.
An ITC is a tax credit that you can subtract from your taxes. An ITC can be used to offset solar system expenses while also reducing income taxes owed.
In addition to the federal solar investment tax credit, there are also incentives local solar state governments provide, including property and sales tax exemption. State governments offer incentives for solar system purchases to reduce the cost of solar to incentivise homeowners to go solar.
Increase the value of your home
Your solar panels will benefit your home’s curb appeal and increase your property value! Having solar also increases the selling price of a property by 4.1% more than non-solar homes. This allows homeowners to sell their solar homes at a premium.
What about selling your home?
According to the National Renewable Energy Laboratory, a property with solar panels sells 20% faster. Selling your home with solar is generally an easy process. We recommend asking your solar company about the process.
You Are Protecting the Environment and Reducing Your Carbon Footprint
The Earth’s climate is changing. There is no debating this fact; the evidence has been building for well over a century. However, we want our planet to remain a healthy place for humankind and ALL its other inhabitants.
Solar power helps reduce carbon emissions because it reduces the need for coal-fired or gas plants, which are significant contributors to greenhouse gases (GHG). Therefore, switching to solar is one of the easiest and most effective ways to reduce our carbon footprint on this planet.
Avoid rising energy prices
By investing in a solar energy system now, you are protecting yourself against the risk of utility companies passing on rising energy prices onto you. In addition, the utility grid is becoming less reliable with each passing year. So why not invest in something that will always be working for you?
If utility companies continue increasing electricity costs at the rate of 1.8% per annum, things will become unaffordable for millions of people with homes without solar in the United States. While solar costs are going down, fossil fuel prices are not. They’re on their way up, as we’ve all grown used to seeing. By investing in solar energy now, you can secure your utility bills at today’s prices. Energy independence is one thing utility companies can’t take away from you.
Protection from power outages
A solar system installed with battery storage allows you the opportunity to be completely self-sufficient, providing you with emission-free electricity throughout the day and giving you power during a blackout.
A solar system with battery storage is one of the best investments you can make to protect yourself against blackouts and other natural disasters.
Summary: Go solar today!
When making an intelligent investment, solar panels are one of the most lucrative options available. Solar panels provide many rewards, such as utility bill savings and a reduction in your carbon footprint. Solar panels can also increase the value of your home and protect you from utility company price increases.
Purchasing a solar energy system makes good financial sense!
Interested in solar power but don’t know where to start?
If you’re thinking about installing a solar power system for your home or business, get in touch with us, and we’ll give you a free consultation. Our energy consultants would love to meet with you and explain our process. Then, we’ll design the perfect solar energy system for your needs.
The first step is to contact us at 609-225-4101 or fill out our online form to calculate how much you’d save by making the switch. Start the process of going solar today!
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Hi, I'm Daisy. I love solar energy! My job is to help people get the most out of their solar panels, and it's so amazing being able to do that every day.
I also enjoy taking trips to Blackwater Falls State Park in West Virginia for some serenity time – it's a great place for me to recharge my batteries and just relax.
But when I’m not doing those things, you can find me at home with my dogs or cooking up something yummy in the kitchen.
About Solar Gleam
As a certified SunPower dealer, we’re here to help you learn more about solar, so you make an informed decision before making the switch. We’ve put together our best resources on how solar technology works, the role of solar storage, and the process of going solar for you to go through at your own pace.
New Jersey has the lowest payback period in the U.S. With amazing solar incentives such as: SuSI program | Solar ITC | Sales tax exemption, there is no mystery to the popularity behind going solar in NJ.