According to recent industry research, the cost of a solar panel installation has declined by 70% in the last decade. That means there’s never been a better time to install solar.
Do you still have questions about whether the benefits of solar energy justify the costs? Put your mind at ease right here.
Solar Panel Installation Incentives
Solar panel installation is an expensive undertaking. Most homes will need between 28 and 30 panels to service their needs. This could set you back as much as $28,000 upfront.
You can get some money back thanks to federal tax incentives that allow you to claim back 26% of your solar panel installation cost on your income tax in 2021.
Depending on where you live, you could benefit from additional state incentives when you install solar panels. These benefits decrease every year, and may soon disappear, so the sooner you act, the more you’ll save.
You’ll also recoup your solar panel installation cost within about 20 years, thanks to savings on your energy bills, too.
No or Low Electricity Costs Forever
When you install an off-grid solar system, you’ll never pay another electricity bill again.
Alternatively, you can opt for net metering, which allows you to share your excess solar power with a power company. In exchange, they’ll give you a credit for the electricity you use from them.
Once you’ve paid for your installation, your solar panels shouldn’t cost you anything when it comes to maintenance for decades to come. They might need the occasional cleaning, but there’s not much that can go wrong with your solar panels.
Finding out about the maintenance aspects of your solar panels is one of the questions to ask solar panel installation companies while comparing prices.
The Bigger Picture
As a world citizen, it’s your duty to reduce your carbon emissions due to the burning of fossil fuels as much as you can. Conventional electricity production, using coal as raw material, emits tons of carbon into the atmosphere every day.
These emissions contribute significantly toward global warming. If we don’t do something about slowing global warming, humanity won’t survive much longer.
If we do manage to survive the resulting severe weather and crop failure brought about by global warming, we’re on track to run out of coal reserves soon.
On the other hand, solar panels use freely available energy from the sun to create clean, renewable energy. The process of manufacturing solar panels produces very little pollution or carbon emissions, especially when compared to power plants.
The sun should survive in its current form for several billion years before it starts to burn out.
Added Value For You
Not only will a solar panel installation bring you savings and bragging rights when it comes to environmental awareness, but it also increases the value of your home.
When you own your solar panels outright, you can add around $15,000 to your asking price. What’s more, prospective buyers find the prospect of saving with solar particularly intriguing, so you’re bound to get more offers too.
Browse our website for more ideas and information on how to bring extra value to your life.