According to stats, energy consumption in America is doubling every 20 years. Considering this and other statistics showing levels of energy consumed by a single resident, you will realize that it’s high time people started thinking about solar technology and how it can be incorporated into their house. In fact, electricity bills shouldn’t be the only reason why you must seriously consider installing solar panels because there are a lot of other benefits that you may not be aware of.
If you’ve been thinking about going solar but haven’t made the decision yet, it’s time you let go of apprehension and get solar panels installed this year. According to GTM Research, prices of residential solar systems have dropped to an all-time low, and it’s the best possible way to use your money this year.
However, if you’re still in doubt and don’t know why this is a must-have technology in 2018, we’ll explain some of the best benefits that you get when you integrate a solar system in your house.
So, here are a couple of pros of installing solar technology.
Radically reduced electricity bills
One of the reasons why there are more than 1.5 million residential solar systems in the US is because it helps in reducing the electricity bills you pay by many folds. Because these bills make up a significant portion of your monthly expenses, cutting them down will help you save a lot for other crucial things that you may need.
With an efficient solar panel system, you’ll be able to generate free power for most of your entire house. Also, even if you’re consuming all the energy that you’re producing, the solar system will help in reducing the costs drastically and save a lot.
You become eligible for 30% solar tax credit
According to the latest tax reform legislation passed by Congress, the way Americans calculate their mortgage interest tax deductions is about to change. Though there have been many significant alterations, the good news for homeowners is that going solar will help you get 30% solar investment tax credit. Though the numbers will drop in the upcoming years, you still have a chance to benefit from it.
Though the ITC is not a tax deduction, the credit you receive can be used as future taxes owed to the IRS. For instance, if your total buying and solar installation cost were $30,000, you can hope to receive $9,000 tax credit if the utilities are connected to the system by the end of the year.
It helps you get off-the-grid
Solar energy doesn’t only help you in reducing your carbon footprint and reducing your electricity bills, but also takes your home off-the-grid. Because the traditional kind of electricity relies on fossil fuels like natural gas and coal, it can be harmful to the environment when you get all your energy from it.
Moreover, these resources aren’t just bad for your atmosphere but are also limited, and their scarcity is one of the biggest reasons why electricity and fuel prices are on the rise. When enough people start to use solar panels as their primary power generator, these resources won’t be as limited as they are for the last couple of years.
Increases the value of your home
According to several statistics, houses that are equipped with solar panels and systems have a higher property value and sell much quicker than the ones that aren’t equipped with solar technology. Home agents and resellers consider solar installations and price the home accordingly.
Moreover, as homeowners begin to become more educated about solar systems and their benefits, the demand for these solar-powered homes will go up, and this will be beneficial for you when you decide to sell. As large numbers of people are looking for solar marketing tips, buyers know that it will benefit them to buy a house that already has solar panels installed as opposed to a property that doesn’t.
Makes you aware of what you’re using
Unlike the conventional energy which you use blindly, installing solar panels and a proper system in your home will help you become more conscious of the energy you’re using. Because solar systems have limited power to give, you’ll be switching off unnecessary lights and appliances when you’re not using them to avoid draining the energy.
This practice will help you even more in saving costs from electricity bills because the more intelligent you’re about using the energy, the lower the cost will be. It, of course, will also make you more independent because you won’t be affected by the sudden changes in utility prices and continue to enjoy your free energy.
Reduces carbon footprint
According to a report published in the Science Daily, one person in an American household annually emits an average of 20 metric tons of carbon dioxide. Compared to the rest of the world’s four tons, that number is quite alarming and hazardous for the environment. Though its almost impossible to completely eradicate your carbon footprint, you can reduce it substantially by getting most of your power from solar panels.
These solar systems can help significantly decrease the carbon dioxide emissions and make it easier for you to chip in your contribution in helping the environment. Because the energy that solar panels produce is entirely emission-free, you can be at peace that you’re contributing to saving the environment.
Greater return on your investment
Finally, you need to install solar panels in your house in 2018 because you will experience a higher ROI than ever before. Not only will you be saving from the utility bills, but also locking the 30% investment tax credit. You’ll be generating extra utility bills credits for the summer months, and this will help you save even more.
Depending on your utility rates, house size, usage and other such factors, you’ll be salvaging a lot. Also, you should note that because the value of the money you save today is much higher than the one you save tomorrow, it is the best thing you can do for your future.
If solar system installation has always been on your mind, but you’ve never been able to work on it, then this is the right time to do it. If you’re not sure whether or not your home is eligible for a specific system, you can use solar calculation software that will assist you in making a decision.