- Posted by adminsolar
- On June 30, 2019
- 0 Comments
Solar power has been more available than ever, which is a great benefit when it comes to anyone interested in it. To put things in perspective, since 2012, the market has grown by 76%, and is still trending upwards. However, while a lot of people have already crossed over to using solar energy, there are many others who feel that it may not deliver enough return on investment to really make it useful, whether we’re talking about environmental benefits or practical benefits. So, to clear the air, here’s a full listing on all the ways that installing a solar power system in Frederick can benefit you, in the short and long term.
Supporting Your Finances
Naturally, any homeowner is going to be concerned about balancing their budget, between paying a mortgage and dealing with upkeep. Naturally, we hear a lot of talk about solar power being a way to save, but exactly how much? According to some statistics and studies, after you opt to add solar panels in Arvada, you can see monthly savings of over 100$. Note that this will vary a bit for areas with naturally sunny climates, in which case, you can save even more. However, the amount of savings should also be mentioned alongside the duration of said savings. Your basic solar panel warranty lasts for around 20 years. As a result, if you stay in a home for the full duration of said warranty, you can save over $30,000.
This doesn’t necessarily mean that solar panels are only financially viable for people who permanent plans for a home. There are new options designed to capture other types of homeowners as well. For example, you can finance your solar panels by using a “pay as you go” plan. Basically, rather than you buying the panels outright, your solar company will own the system, and they will also take care of expenses like installation, repairs, and general maintenance. You have to pay the company for your electricity, but it’s often cheaper than doing it through a conventional utility company.
But what if you want to pay in cash? Note that solar panels aren’t necessarily as expensive as you think. Using Hawaii as an example, it takes homeowners 5 years on average until their monthly savings begin to eclipse their general costs. Note that even if you are based in an area that isn’t as sunny as Hawaii, this generally will happen within 10 years.
Another additional point to mention when we’re talking about solar panels and your finances is that you’re doing more than saving money when you get them installed. In fact, you’re potentially making more money if you opt to sell your house. The reason for this is tied into those save electricity savings. You get to save for now, but so does anyone who buys the house from you. This means that solar panels are something you can mention in a listing for a home to appeal to potential buyers, just like you would with a home located in a good school district or near public transportation. Statistics show that a home with solar panels not only sells 20% faster than one without, but also for a 17% average higher value. All the more reason to reach out to a solar company in Arvada.
Another element that we should mention when it comes to talking about solar panels is existing incentives at the federal and state level. In 2009, the $2000 cap on the Federal Solar Tax Credit was lifted. This means you can now get as much as 30% of your total system expenses reimbursed. In fact, if you mix these numbers with solar renewable energy credits and state/local benefits, it’s not unheard of to end up paying only half of what you are initially billed for a solar panel installation. However, you need to do your research on the rules and measures in states to figure out what you are qualifying for.
Beyond The Money
For some people, the prospect of making your home more valuable and saving your money is enough reason to convert to solar. However, some are looking beyond money before they decide to reach out to a solar company in Firestone. The silver lining here is that there are other benefits worth talking about.
For one thing, there are indirect savings you get when going for solar for your electricity. Fluctuation in prices from the utility company can be frustrating, but this happens a lot less with solar power. The reason for this is that solar companies have formulas based on how many panels you have to determine exactly how much power your home can generate for years to come. Along with this, the existing warranties last up to 25 years, and you won’t see a significant drop in performance during that time. In fact, you can see a strong return as long as 40 years after you first install solar panels for your home in Frederick.
Another major piece we should talk about is the environment. The U.S. has annual carbon dioxide emissions of around 18%, behind only China. Solar panels do a lot to lower your household’s carbon footprint. To put this in perspective, over a 20-year span, a solar system offsets around 100,000 lbs of carbon dioxide. This is equivalent to a car being driven 100,000 miles. Combine this with all the other benefits we’ve been talking about, and solar panels become quite an appealing package for anyone’s home.
Along with this, it’s also become far easier in modern times to get your solar system installed. Solar companies today have a variety of different packages to match home sizes and energy needs to get the job done, and a consultation is a great way to lay out all the options. All you have to do is pick up the phone.