Wondering why more people are switching to solar power systems? That’s because of the immense benefits of solar panels. Read the blog to find out what they are.
In the past few years, residential solar panel installations have skyrocketed. According to the SEIA report, more than 1500 MW of PV panels were installed from June to September, and this has been recorded as the highest power of panel installation in one quarter.
The numbers do not stop here. Another SEIA forecasting report predicts that between 2023 and 2027, the number of residential solar panel installations will increase to between 6000 and 7000 MW.
And there are a couple of factors that have contributed to that!
Installing solar panels at home contributes to many rewards, from saving significant amounts on power bills to reducing carbon footprints to opening up opportunities for earning extra redeemable solar credits and a lot more.
In this blog, we will dive into the 7 best captivating benefits of residential solar panels and why you should give a thought to shifting towards the same.
So, let’s get started!
Why is switching to residential solar panels a good idea?
The answer to your question, “Are solar panels worth it?” lies in the following pointers:
Save more on power bills
One of the major advantages of going solar is that it helps eliminate electricity bills. How so?
The solar panels you install on your rooftop harness the sunlight and convert it into electrical energy, which can be further used to lighten up your home.
Now you must be wondering, “What if I live in a cloudy region? Or, are the solar panels effective in winter?” Well, we have the answer for that too.
Locations with a sunny climate receive an average of 5-6 hours of sunlight, whereas in cloudy areas, the time reduces to 2 hours. In both cases, the solar panels receive enough sunlight to generate electrical energy.
As a result, on scorching days when the temperature is sizzling hot, you might need to draw energy from the utility grid, whereas on cloudy days, you might not need additional power and can send it back to the grid for future emergencies. Either way, installing solar panels at home results in saving more on your energy bills.
Earn solar tax credits
Did you know that the U.S. federal solar tax credit has been increased to 30% from 26% for systems installed between 2022 and 2032? Yes, it is true!
This means you will get 30% of your total solar panel project’s value in the form of solar tax credits at the time of tax filing. You can sell these credits further to the utility companies to generate additional income.
But this is just the beginning!
In addition to the federal tax credit, there are state and local solar incentive and rebate programs that further aid in lowering your solar power system’s cost. Moreover, sometimes the installers take your roof area on lease and, in exchange, provide electricity at a discounted rate.
All these government initiatives have one hidden motto: persuading citizens of states towards solar panel installations and a sustainable future.
Less Environmental Impact
Installing solar panels at home not only cuts down on your energy bills but also lends a helping hand towards an eco-friendly environment.
Traditional means of generating power require the use of non-renewable sources of energy such as coal, oil, or natural gas. On the one hand, the consistent use of these resources will lead to depletion, and on the other, it will cause environmental pollution with the emission of toxic greenhouse gases and water or air pollution. Either way, they bring bad luck to our nature.
Since residential solar panels have become a hot topic these days, it is best to fan the fire and encourage more and more people to go solar and reduce their carbon footprints. And ultimately create a better place for us to live in.
Reliable energy source
As told earlier, solar panels harness the power of sunlight and convert it into electrical energy, which is stored in battery systems for later use. The key source is the “sun”, which is a never-ending massive ball of energy. And, therefore, installing solar panels on your rooftop will provide a reliable source of energy for a lifetime.
However, sadly, only 10% of states’ energy is coming from renewable sources; the rest is still generated from non-renewable sources, which is a threat to both nature and humankind.
Thus, more and more Americans should switch to solar energy. It will give them a sense of calm knowing that, in every situation, their home will never run out of electricity.
Increases home value
Savings on high power bills and reducing carbon footprints are not the only benefits that you get from installing solar panels at home; they also increase the value of your home. Yes, residential PV panels are considered an asset, not a liability, on your property.
In fact, according to the National Renewable Energy Laboratory, homes with solar panels installed are 4% more likely to be sold than those without.
The reason is pretty simple and clear. Buyers are more likely to invest in energy-saving and cost-efficient homes that come with an in-built solar power system. Thus, both financially and environmentally, it would be a wise decision to install panels at your home so that it continues to bring profit to your home and life.
Let you earn extra money
Did you know installing solar panels on your property gives you an opportunity to earn additional pocket money?
Didn’t get it? Let us explain this to you.
All across America, there is a net metering law, according to which all homeowners can send the extra electricity their solar system generates back to the grid, and in exchange for that, they are rewarded with credits.
The residents can further redeem these credits or get compensated by utility companies in exchange for these solar credits. Either way, they help you cut down on the solar project costs and generate some extra money.
At one time, there was a debate between power providers about how the net metering program could harm their profits. Later on, the air was cleared and it was understood that this program is beneficial for both homeowners and the local electricity providers, especially during times when there is high demand for electricity.
Easy installation
Previously, due to a lack of resources, awareness of solar panel installation was minimal and considered a complex task. But now, with technological advancements, it is pretty clear that installing panels on your property is easy and does not require anyone to buy a home, which could otherwise take a toll on their finances. One can always start small and then expand if required in the future.
The versatility and flexibility of solar energy systems make them an ideal choice even for remote regions. They can reach locations where there is no electricity or be installed at places where electricity rates are too high.
Things to keep in mind before installing solar panels on your property
At times, homeowners complain that they are facing frequent maintenance issues that take a toll on their financial system or that their panels are not working efficiently. This usually happens in cases of avoidance and lack of awareness of solar panel installation.
So, before you install them on your property, consider going through the following checklist:
- Ensure that your rooftop area, where the panels would be installed, is in good condition. If there is a repair issue, then fix it.
- To get the most out of your solar investment, check the orientation of your panels. For instance, south-facing roof areas are able to capture maximum sunlight when they are in the northern hemisphere.
- In the market, based on their efficiency, manufacturing type, and prices, there are numerous solar panel models available. So, find the set of solar panels that work best for your home.
- Get aware of state and local solar incentives and rebate programs. Usually, your solar panel installer can provide you with all these programs and help you save more on your solar project.
Final Words
So that’s all about the benefits of solar panel installation at home. Additionally, the concept that solar panels are available at affordable prices and require minimal to no maintenance after installation adds to the list of reasons why one should go solar.
Considering the aforementioned reasoning, it is a no-brainer that building an efficient solar power system on your property will be a worthy investment.
It won’t only put you in the category of responsible citizens towards the environment but will also help you reduce significant energy costs and thus provide aid in managing your monthly finances.
Additionally, due to the rising awareness and consideration towards renewable sources of energy, now is the most ideal time to move towards solar-panel-equipped homes for a sustainable future.
