1. Reduce your electric bills with solar
Whether you’re a homeowner or business owner, electrical costs can have a substantial impact on your monthly budget. A solar power system can last for 25+ years, so the savings add up dramatically over time.
2. Protect yourself from rising energy costs
One of the best reasons to go solar now is the ability to lock in your energy rate for the next 25+ years and protect yourself from rising energy prices. Residential electricity prices have historically risen 3% annually in the US, and the increases can fluctuate. A solar energy system protects you from unpredictable utility rate increases.
3. Increase your property value with a solar power system
Recent studies have shown that properties with solar power systems installed have higher property values and sell more quickly than properties without. According to a 2015 report from the Department of Energy’s (DOE’s) Lawrence Berkley Laboratory solar panels can add value to your property when it’s time to sell. The demand for solar-equipped properties will continue to grow as energy costs rise. A Zillow study in 2019 states that solar can increase home values up to 4.1%.
4. Earn a terrific return on your investment in solar energy
Solar panels are one of the best ways to invest your money, rivaling more traditional investments like stocks or bonds. If you take into account the electrical savings, the average homeowner’s payback period is 8-12 years and sees a return on investment of 10%-14%. For a business, the average payback period drops to 3-6 years with a return on investment of up to 20%.
5. Take advantage of federal and state solar incentives while they last
6. Contribute to a greener, cleaner environment
Solar energy is one of the cleanest and most environmentally-friendly energy sources available today, and provides a sustainable alternative to fossil fuel based energy production.