The number of homes in the United States utilizing solar energy is increasing significantly with each passing year. This has been the trend for the past decade and is expected to continue. With this in mind, there are some significant benefits to be realized through the installation and utilization of solar energy at your home.
If you consider installing solar panels at your home, you should focus on these various benefits. This information can assist you when you debate whether or not you should take the important step of installing solar panels at your residence.
Save Thousands Of Dollars
One of the most significant benefits associated with the use of solar energy at your home is the ability to save a significant amount of money over time. The monthly energy savings often tops $100. If you extrapolate that over 20 years, you can end up saving over $30,000 during that period.
In some locations around the United States, the amount of money that can be saved by installing solar panels at your home proves to be even higher. For example, during the same 20-year time period in Hawaii, the savings would more than double the amount just referenced and be above $60,000.
Increase Your Home Market Value
Another key benefit associated with installing solar energy at your residence is an uptick in the market value of your residence. Twenty years ago, the installation of solar panels on residential property tended to have little impact on market value. That no longer is the case.
Some research suggests that the addition of a solar system at a residence virtually pays for itself when the panels are in place because of the increase in market value that follows the addition of this type of system to a home. Some argue further that the addition of solar panels profits a homeowner when the various financial incentives and increase in market value are considered together. These financial incentives are discussed in a moment.
The addition of solar panels the utilization of solar energy at a residence nearly always results in what can amount to a significant increase in the value of a home. As an aside, solar installations at a residence make a home generally more attractive to home buyers interested in environmentally friendly property.
Financial Incentives For Going Solar
If you install solar panels at your residence, you can reap another set of benefits. Through installing solar panels at your home, you likely will qualify for a variety of generous incentives.
You can take advantage of the Federal Solar Tax Credit. The Federal Solar Tax Credit allows 30 percent of the total cost of residential solar equipment and installation to be utilized as a tax credit on a federal income tax return.
In addition, individual states, and local units of government, also provide homeowners who install solar panels with financial incentives as well. Often, the combination of all of these different incentives ends up cutting the total cost of solar panel equipment and installation in half.
In addition to the myriad of financial benefits associated with installing solar energy at your home, there are benefits to the environment as well—the environmental benefits associated with solar power at your home center on a reduction in carbon dioxide emissions. The United States is in second place worldwide regarding carbon dioxide emissions. The United States is responsible for 17.9% of carbon dioxide emissions annually. The U.S. is directly behind China.
Enhance Energy Independence
A broader benefit associated with installing solar energy at your home is that it contributes to an enhancement of energy independence. Energy independence is becoming an increasingly important issue in this era of international uncertainty.
Residential solar energy systems are low maintenance. Indeed, once a system is installed, there is very little left to be done in the way of maintenance. There are far, far fewer maintenance requirements than with traditional residential systems that rely on fossil fuels at their foundations. As an aside, low maintenance also saves a homeowner money when it comes to solar panels at your home.
Yet another key benefit associated with solar panels at your home is a long-term warranty. The standard solar panel warranty for a residential system runs between 20 to 25 years. The length of this warranty is well beyond that is found with traditional systems utilized in residential properties.