The cost of electricity continues to rise. In fact, seemingly the cost of everything continues to rise. As a homeowner, you no doubt want to find ways to save money on a regular basis.
There are certain necessities, such as food and fuel, that you simply cannot do without. However, you may be able to cut down your utility bills by investing in solar panels.
Solar panels collect energy from the sun, and store it. Then, when you need it, it is available just like it would be if you were using a standard electrical system. There are many reasons why you should invest in solar panels, and here are 5 of them.
1. Lower the Cost of Electricity
Let’s face it: the main reason that you would want to switch to solar panels is that you can probably have free electricity if you do. The solar panels get energy from the sun, and then store it for your use.
If you store enough, then you may never have to use your electricity from the grid at all. While getting solar panels can be quite expensive, every month you are avoiding having electrical bills at all.
Some estimates claim that you can pay off your entire installation within 8 years by using less standard electrical and relying more on solar.
2. The Return on Your Investment
At this time, living in the United States means extra cost for energy. The price of gas is going up, just as the price of electricity is rising, too. This is a good incentive to install solar panels.
Essentially, your return on investment will be how much you have saved by avoiding using the electrical grid. When you are paying for regular electricity bills, your rates will vary from statement to statement.
That means that some months your dollar isn’t getting you as much energy as it had the year before. With solar panels, that is never an issue since you will have no extra costs beyond installation and regular maintenance.
3. You Can Take Advantage of Incentives
When you look at the cost of solar panels, you might be shocked to see how expensive they are. However, there are ways for your homes to go solar to mitigate the cost and make it smaller. The best way to do this is through tax rebate incentives offered by the federal government.
Currently, if you install solar panels by December 31, 2022, you can get a 26% rebate. If you install before the end of 2023, that rebate can be 22%.
There is no rebate being currently offered for 2024, but that could change at any time. Certain states may also have their own rebates and incentives, so it’s always worthwhile to look into it.
4. You Can Count On The Sun
If the sun stops shining, then we will all have more to worry about than our electricity bill. The fact is, the sun is a reliable source of energy.
Even if it gets cloudy, your solar panels will have already collected the energy you might need during that cloudy period. The sun isn’t going away, so you will have an endless reservoir of electricity from which to draw.
Regular power grids are susceptible to many types of hazards. If the temperature changes suddenly, for example, then you might have problems. Or, the grid could suffer damage, such as a squirrel chewing on some lines, or the wind blowing over hydro poles.
5. An Increase in Property Value
Every renovation or update to your home should be geared towards property value. The more effective changes you make, the better your property value will end up.
Solar panels will absolutely increase the value of your home. Consumers want to save money, just like you do. They will try new things if they can end up saving themselves some money, and your solar panel might be exactly what a consumer is looking for.
These are the most common reasons for why someone might install solar panels on their home. If you are thinking of making the switch, then make sure that the benefits work for you.
Plus, you don’t have to worry about them not looking well. You can set up panels that look great and blend them with your roof, or you can add other accessories. No matter what you do, having an update will help.