What Are The Benefits Of Solar Installation For Homeowners?
Advances in solar panel technology, more widespread concern about fossil fuels and foreign energy dependence, and increased government and power-company based incentives have all combined to create a more favorable environment for the growth of solar over the last decade.
For homeowners, here are the most important ways in which solar installation can be beneficial:
- Reduce or eliminate your power bill. Depending on how much energy you produce, you drastically slash your monthly electric bill. In some cases, you can even sell excess power back to the grid and walk away with a profit!
- Get tax credits and incentives. The Federal Investment Tax Credit alone can save you 30% of the cost of solar system installation, either in one tax year or spread out across several. Add on state and local incentives and rebates, and you can save as high as 40% or 50% of the total cost in some cases.
- Long Term Savings. Solar panels and their warranties last 20, 25, or more years these days, and you can usually purchase them in 5 to 7 years or less. Savings over 20 years often add up to $30,000, even at only $100 saved per month – compared to $15,000 or less for the system.
- Enhanced Resale Value. The extra value solar systems add to a listed home, on average, make it sell for 17% more and 20% faster. That’s a huge bonus if you’re planning to move!
- Immediate Savings. If you lease your panels or use a PPA purchase agreement, you can immediately begin to save money, though full benefits only come once you actually own your solar panels.
Contrary to popular belief, solar panels still work some even when it’s cloudy – at 10% to 20% levels. Thus, they are always working to save you money, just more when it’s sunny. And they are always doing their part to save the environment as well.
When Is The Best Time To Install A Solar Energy System?
Do you need new roofing soon? If so, it’s the perfect opportunity to upgrade your energy independence at the same time by going solar.
After all, most solar panels are installed on roofs (though some are ground-mounted), and solar installation would involve tearing off and/or reconstructing a portion of your roof anyway. Also, the savings you get month by month from your solar energy production will help you pay for the new roof!
If you can hire a single company to handle every aspect of both re-roofing and the solar installation project, then you will save even more money. Consider contacting Sheegog Contracting, located in the heart of sunny Central Florida for an estimate on both getting a new roof and installing solar panels and all accompanying equipment.