If you are looking to save on increasingly exorbitant energy bills and reduce your carbon footprint at the same time, you may be considering investing in solar panel energy for your home.
While the use of solar panels on residential properties has absolutely skyrocketed across the US in recent years, many homeowners are understandably hesitant about paying high upfront costs for solar panel installation.
However, doing so will almost certainly save you much more money than you spend over the long-term. Read on to find out exactly how solar panels for your home will lower your bills.
Solar Panel Energy Means Cheaper Electricity
Put simply, solar panel roof installation means cheaper electricity bills right off the bat. Studies have shown that solar-powered homes pay around 50% less in monthly electricity bills than homes that rely on fossil fuels for their electricity. This is based on the simple fact that the power provided by the sun is free.
The only power you will have to pay for is the electricity you need to use when the sun is not out. However, with solar power storage technology improving with each passing day, even this small cost is lowering dramatically with each passing day. If you wish to reduce your monthly expenses, solar power will help you get there.
Solar Panels Will Lower Your Tax Bill
Did you know that solar panels for house energy will lower your federal and state tax bills? There are a number of US Government tax incentives designed to encourage the uptake of solar panels by providing tax credits to homeowners that invest in solar.
For example, as the leading solar panel installation company explains, homeowners with solar panels in the US benefit from net metering, rebates, tax exemptions, and the Federal Investment Tax Credit (ITC), potentially saving you thousands of dollars per year. In addition, the cost of actually installing the solar panels is tax-deductible, making this an even more cost-effective option.
Dramatically Reduced Maintenance Costs
If you have ever shelled out huge amounts of money you don’t have for utility companies to come and fix issues that are not your fault, then you should invest in solar.
When asking what is solar power good for, one of the first things to keep in mind is that solar panels are designed to last decades with zero maintenance. If maintenance needs do arise, these are usually covered by the solar panel installation company. With solar panels, you only pay once for a lifetime of electricity.
Consistent Electricity Prices for the Future
Finally, it is worth considering the long-term savings offered by solar panels. Coal, oil, and gas electricity prices are constantly shifting and rising according to the whims and changing realities of the fossil fuel market. Consumers without solar panels are at the mercy of arbitrary price rises dictated by the market and by the whims of shareholders.
With solar energy, you can expect low and very consistent energy bills for decades. As fossil fuel energy costs continue to soar, solar panels could save you thousands of dollars in the coming years.
Future-Proof Your Home Today
Understanding the financial benefits of solar panel energy can help you future-proof your home, saving you time, money, and stress. For more tips on preparing your home for the changes of the future, we have got you covered. Make sure to consult our expertly-curated Home Improvement guides for the latest tip and hacks on sustainable living.