8 Benefits of Solar Panels For Homes
Solar energy is sustainable, renewable energy source and abundant. The cost of producing solar electricity is decreasing every year. More and more Americans are choosing to switch to solar power because of numerous benefits of solar panels for homes.
At present, the country boasts more than a million solar setups nationwide. Here are some additional benefits of solar panels.
Advantages of Solar Panels
Solar Panels Are Increasingly Affordable
Residential solar installations are now more affordable, especially with the extended federal residential solar tax credit. Homeowners can claim a 30% tax credit on the cost of solar systems on their income taxes. However, make sure to install your system before January 1, 2033, when the tax credit will drop to 26%.
Additionally, there are various financing options available that make buying solar systems easier with less money upfront. The monthly payments on a solar loan are usually lower than the average utility bill.
Cost Savings
Cost savings are a significant factor that motivates people to choose solar. You can expect financial returns and lower monthly bills, but how much you save depends on factors like:
- How much electricity you use
- The size of your solar system
- If you buy or lease it
- How much sunlight your area gets
- Your roof’s size and angle
- Local electricity rates.
A solar system is a chance to cut your electricity bill and make a smart, low-risk investment for the long term.
Increased Home Value
Installing a solar energy system can boost your home’s value, just like a fancy kitchen or a finished basement. Studies indicate that homeowners are willing to pay more for a solar-powered home.
A study by Lawrence Berkeley National Laboratory found that homes with solar panels increased in value by around $15,000. This means that installing solar panels can potentially raise the value of a home. Researchers conducted the study to understand the impact of solar panels on property values. The average increase in home value was significant at $15,000.
Homes with solar panels usually sell for higher prices. Factors such as electricity rates and system size can also affect the price difference. Explore more about solar and real estate to learn how it can benefit you.
Can Work Everywhere
Solar energy is abundant across the United States. In fact, just one hour of midday summer sun can meet the entire annual electricity demand of the country. Many states in the U.S. have abundant solar resources.
Even regions with less sunlight, like the Pacific Northwest and Alaska, can still take advantage of solar power. Countries can save money by investing in solar energy.
Environmental Benefits
You don’t have to rely on fossil fuels and can reduce carbon footprints. Solar energy helps reduce greenhouse gas emissions and harmful pollutants. These pollutants include CO2, sulfur oxides, nitrogen oxides, and particulate matter. Every kilowatt-hour (kWh) of solar energy contributes to this reduction. Additionally, solar power contributes to reducing water consumption and withdrawal, thereby benefiting the environment even further.
Use During Power Outage
Generating your own solar power can ensure you have electricity during power outages. Residential solar energy systems with battery storage, known as solar-plus-storage systems, provide power regardless of weather or time of day, without needing backup from the grid. As battery technology improves and financial incentives for energy storage become available, investing in battery storage is becoming a smart choice for more households nationwide.
Solar Systems Can Work in a Variety of Climates
Solar panels need just one thing for electricity production: sunlight! Even during winter, with fewer daylight hours, there’s still enough sunlight to power the average American home. This means solar energy is viable even in Alaska, despite its long, cold winters.
The U.S. Department of Energy’s Solar Energy Technologies Office (SETO) works to ensure solar panels can endure various weather conditions, regardless of location. SETO supports five Regional Test Centers across the country, each in a different climate, to ensure panels perform optimally in all types of weather.
You do not need to own a house to go solar
Do you rent your home or live in a high-rise condo? No problem. Community solar programs let multiple people benefit from a single, shared solar array. These arrays can be installed on your building or at a different location. The costs and installation of the solar energy system are shared among all participants. This way, everyone can buy into the system at a level that fits their budget. Plus, if you move, your share can be negotiated into the sale of your place! Learn more about solar tax credits on rental properties.
Go Green Today!
Make the switch to renewable energy today and help protect the planet. Every small step towards sustainability counts. Join the movement for a greener future!