Over the last decade, the cost to install solar panels has dropped by more than 70%. An average-sized residential solar system was once $40,000 but nowadays the price is cut in half.
This competitive pricing has allowed the solar industry to expand into new markets and install thousands of systems around the nation.
The low cost of solar panel installation is not the only financial benefit you can reap. In fact, there are three major benefits of using solar power energy. Keep reading to learn them.
- Lower Energy Bills
The most obvious reason people opt for solar power energy is to benefit from the lower energy bills. Any power that your solar panels make themselves is the power you don’t have to get from your utility.
If your panels make more energy than you are using, the power is sent back to the grid and in return, you receive a solar energy credit. Over time, your energy costs will become more predictable.
- Solar Tax Incentives
Another one of the benefits of solar power is that you might qualify for federal solar tax incentives. There are tax incentives for both residential and commercial solar panel use.
Federal solar tax incentives can offset a good chunk of the price of solar systems. The tax credit increases and decreases from time to time, so purchase solar panels at the right time to receive the best bang for your buck.
You can talk to the experts about maximum solar savings with little to no upfront costs.
To go solar without out-of-pocket costs, you can also look into the financing and leasing options available. If your monthly lease or loan payments are below your average energy bill, you’ll still have money in your pockets.
- Increases Home Value
Using solar power energy is beneficial for as long as you have solar panels. However, if you aren’t sure that you are in your forever home, don’t let it stop you from using solar power.
Even if you sell your home, the benefits of going solar don’t end. Your home value will increase by having solar panels. Your house might also sell faster when on the market, especially if other homes in the area don’t have solar panels.
If you don’t want to get rid of your solar panels when you move, a solar expert can uninstall them for you and reinstall them on your new home. This will cost you but it is less expensive than purchasing an entirely new solar system.
Saving Money With Solar Power Energy
Solar energy saves a lot of green and we don’t mean just the environment! If you want to save money on energy bills, receive tax incentives, and increase the value of your home, solar power energy is the one solution.
Among the financial benefits of a solar system, there are other advantages to getting solar panels installed. If you want to read more about solar energy and other hot topics, check out the additional posts on our blog.
