Solar energy has become increasingly popular in recent years, thanks in part to advancements in technology that have made it more cost-effective. In addition to being environmentally friendly, there are many financial, environmental and security benefits to using solar energy. Here are a few of the top reasons why switching to solar energy can be a smart decision.
Financial Benefits of Residential Solar Panels
Reduce Energy Bills
One of the biggest advantages of solar energy is the potential to save money on your energy bills. Because solar panels for your home generate electricity from the sun, they can significantly reduce the amount of energy you need to purchase from your utility company.
This can result in significant savings over time, especially if you live in an area with high electricity costs. In fact, many homeowners who switch to solar reduce their energy bills by 50% or more, allowing them to put money into the value of their home instead of into the pockets of their utility company.
Get Solar Energy Tax Credits
Another financial benefit of solar energy is the potential to earn money through government incentives. In many locations (including right here in North Carolina), the government offers solar energy tax credits and other incentives to encourage people to make the switch.
These incentives can help offset the initial cost of installing solar panels, making it a more affordable option. In some cases, these incentives can even provide a profit, allowing you to earn money by generating your own electricity and selling it back to your utility provider. Your residential solar company should help you understand and navigate all the available incentives for your area.
Increase Property Value
In addition to saving money on your energy bills and earning government incentives, solar energy can also increase the value of your home. Because solar panels are considered a desirable feature, homes with solar installations often sell for a higher price than comparable homes without solar.
Zillow published a report stating that solar energy installations can raise the value of a home by as much as 4.8% in North Carolina. In other words, solar can be a smart investment, helping you recoup the initial cost of installation when you sell your home.
Solar Panels for Your Home: Environmental Benefits
Residential solar energy has numerous environmental benefits that make it a valuable source of clean, renewable energy. By generating electricity from the sun's rays, solar energy reduces our reliance on fossil fuels, which are a major contributor to climate change and air pollution.
One of the main environmental benefits of residential solar energy? It's a clean, emission-free source of electricity. Solar panels don’t produce any harmful greenhouse gases, such as carbon dioxide, when generating electricity. As a result, using solar energy to power your home can significantly reduce your carbon footprint, making it a more environmentally friendly option compared to traditional fossil fuel-based electricity.
Residential solar energy can help to reduce water pollution. The production of electricity from fossil fuels often requires large amounts of water for cooling and other purposes, which can lead to water pollution if not properly managed. Solar energy, on the other hand, does not require water for electricity generation, making it a more water-efficient option.
Overall, the environmental benefits of residential solar energy are numerous and significant. By generating clean, renewable electricity, solar energy can help to reduce our reliance on fossil fuels, reduce air and water pollution, and contribute to a more sustainable and resilient energy system.
Energy Security and Independence
As Americans, we love independence, right? And energy independence is no different. Why not generate your own electricity instead of depending on a utility that can have electrical outages lasting hours, days or even weeks?
Recently, in Western North Carolina, an electrical substation was attacked and disabled leaving almost 45,000 people without electricity. Some of these 45,000 people had to wait 5 days before electricity was restored. Being in the industry for over a decade, we know the complexity and long lead times for substation equipment—it can be a significant obstacle to restoring grid operations. Be prepared for the next unplanned outage in your area by generating your own electricity regardless of the state of the grid.
Finally, solar energy can provide long-term stability and predictability for your energy costs. As fossil-fuel prices increase over time, utility companies pass this cost to their customers. Because the sun is a free and abundant source of energy, you won't have to worry about fluctuating energy prices or shortages. This can help you budget more effectively, avoid unexpected energy bills and keep your costs down long-term.
In conclusion, there are many financial, environmental and security benefits to switching to solar energy. From reducing energy bills and earning government incentives to increasing the value of your home and providing long-term stability, solar energy is a smart decision that can pay off in the long run.