As the science of solar power becomes more advanced, it also becomes more affordable for homeowners to implement in their own lives. While many of us are already used to things like solar path lights or solar-powered fountains in our yards, fewer of us are ready to make the switch to solar power.
After all, this transition may be a big unknown without clear payoffs.
Today, let’s talk about 7 commendable reasons to make the switch to solar. You may find that these reasons are more appealing than you thought that they would be!
#1: Panels Make Financial Sense
Installing solar panels is a big job that has a large upfront installation cost. Even if you find an energy company that is willing to cover that cost, you’ll still be paying it back somehow. In the past, this cost is what turned people away from this new, innovative idea.
Today, however, things have changed. In fact, installation costs on solar panels for your home have gone down by more than 60% in the last decade.
As solar panel technology becomes more accessible and efficient, the payoff value is lower than ever before. If you are spending more than $100 a month on your electric bill, solar panels are a smart idea that can help you to save a lot of money. You may even zero out your bill!
Don’t let your past fear of solar panels not being a smart financial investment scare you away now. You can save money with the right installation package!
#2: Stabilize Energy Costs
Are you tired of seeing huge fluctuations in your bills every month due to the volatility of the market? If you don’t have a locked rate, this might be frustrating you more and more. Beyond electric bills, your other bills probably fluctuate, too.
One of the best things about getting solar panels is that you can stabilize how much your energy costs each month. Since your solar panel generates energy and you ultimately pay the remaining balance to your electric company, you’ll find that your bills become much more consistent.
#3: Enjoy Tax Rebates
The federal government and many states have specific tax rebate programs in place for the installation of solar panels. Depending on where you live and how many panels you install, you could see a pretty large tax break as you make the transition.
As solar usage becomes more common, however, the tax rebate is likely to go away.
If you are planning on installing panels in the future but haven’t committed to getting them installed yet, it’s time. Don’t miss out on the opportunity to help this home improvement save you in taxes!
#4: Attract Better Renters & Buyers
If you are planning on renting out your property in the future or even to sell your home, having solar panels is a surprisingly great way to get more money out of your land.
When it comes to renters, you always want to find the most reliable renters, and you want to choose those that care about the details of a property. Renters that care about whether or not a property has solar panels is more likely to be a high-quality tenant, and those are the kind of tenants that you should aim to attract.
When selling your home, having solar panels installed will definitely increase the home value of your property. The exact increase will depend on your location and which appliances run on electric power in your home, but you can be sure that you will get more money out of your property when you sell with this addition.
#5: Lease or Loan
In addition to solar power installation plans being more affordable than ever before, there are also many leasing and loan options from solar companies available. Depending on the energy costs in your area, how much sun your roof gets, and how large your roof is, you may be able to avoid paying upfront energy costs.
With these programs, the solar panel company pays to have the system installed. If you generate more energy than you use, that money will pay for the leasing. If not, you will pay a small leasing fee. Depending on how much energy you use, this could still save you money.
The point is that there are three different options today – loan, lease, buy – when it comes to solar energy. You have more options than ever before!
#6: Long-Term Guarantees
When you buy into solar panels, you’re buying into a long-term investment that is guaranteed to last. Your solar panels are likely to be under warranty for 25 years or more, and the panels themselves need little-to-no maintenance.
That means that as long as the sun keeps shining, you’re guaranteed to be able to pay off your installation fee and then start saving money. Some people worry that the payoff can take more than 5 years, but the panels will last much longer than that!
#7: Reduce Your Carbon Footprint
Finally, installing solar panels on your property helps to reduce your carbon footprint.
When our homes run solely off of oil, natural gas, and power plant generated electricity, we do not always having the best effect on the environment around us. It can be hard to find ways to cut back on that carbon footprint because many of the ways we cause damage are through essential actions.
By changing to solar power, however, you can cut back on how much using power in your home is having a negative effect on the world around you. Let’s keep the Earth a beautiful place to live!
Solar Panels Make Sense
The bottom line is that solar panel costs keep going down while the cost of being on-the-grid keeps going up. The longer you wait to install a smart, clean energy choice, the fewer rewards you will be able to get out of the rebate and credit system as well.
If you’ve been considering solar panels or have recently become interested, now is the time to act. Get solar power and get saving!
Eric Worral has owned and managed rentals for over 9 years. Currently, he works in marketing
at RentPrep.com, a tenant screening service for landlords and property managers. He’s also the
co-host of the “RentPrep for Landlords” podcast where he shares tips and insights on managing
your rental properties.