Although many places around the globe rely on fossil fuels as their primary power source, solar energy or solar photovoltaics has become one of the world’s fastest-growing sources of electricity. It’s not just utility companies and businesses that are starting to go solar–homeowners are also making the switch and installing solar panels.
Besides electricity, what else can we get out of solar power? Let’s go through the benefits of solar energy and why it’s worth it to switch.
What Are the Advantages of Solar Energy?
1. Solar Energy is Renewable
Renewable energy pertains to power that comes from processes that replenish themselves, like blowing wind and flowing water. Solar is a highly reliable energy source as sunlight is abundantly available everywhere on the planet. You wouldn’t have to rely on non-renewable resources like coal, oil, and gas with solar power.
But will solar energy last forever? No, the sun will eventually burn through all of its fuel. However, that’s not a problem we need to deal with for a long time—stars like the sun can live billions of years.
2. More Independence from the Grid
Going solar reduces your dependence on the local grid. Since the utility won’t be your only energy source, you won’t have to worry as much about losing power at home when there’s a blackout or other electrical problem in your community.
If you use solar more than the electricity from the grid, you can reduce your utility bills because your solar power consumption isn’t subject to any rates.
3. Minimizes Carbon Footprint
Because you become less dependent on power plant-generated electricity, one of the benefits of solar energy for eco-conscious homeowners is that it helps reduce your negative impact on the environment. Besides any possible emissions during the installation process, the solar panels themselves don’t emit greenhouse gases nor pollute the water.
Additionally, solar panels operate silently, so your household won’t contribute to noise pollution, especially if you live in urban areas.
4. Enjoy Tax Credits and Incentives
In the US, installing a home solar panel system makes you eligible for federal solar tax credits. Therefore, you can claim 26 percent of the system’s cost (including installation and sales taxes) in tax credit when it’s time to pay your federal income taxes. There’s no value cap on the deductions you can take so long as they’re exactly at the specified percentage.
Your state may also have incentives for those who install solar panel systems for their home or businesses. For example, Virginia lets counties, cities, and towns exempt solar power equipment from property taxes.
5. Potentially Increase Property Value
Are you thinking of selling your home someday? One of the lesser-known benefits of solar energy is that it can boost property value. In fact, one study discovered that some US cities have properties that cost more than 50 percent of the average house price in their area because they have solar panels. Another study found that installing solar panels can increase your home’s value up to $56,000.
Solar panels are often considered upgrades since they can help the next homeowner be less dependent on the grid and reduce their utility bills. Having existing panels at the property also saves the buyer from having to spend money on installing them.
Although solar panels can increase property value, the amount depends on certain factors, mainly:
- Location: Besides federal tax credits, does your state have other solar incentives? How much can the buyer save on electricity bills by using solar panels? The more perks they can get, the more willing they are to pay a higher price.
- Age: Newer solar panel models are more efficient and can help save the buyer on repairs and maintenance.
Ready to Make the Switch to Solar?
Are you interested in reaping the benefits of solar energy with your household? Here at Design 1 Solar Group, we’d be happy to discuss solar energy solutions and how they can help you save money at home. Our team is committed to building a sustainable future for everyone with the help of solar power. To get started, contact us here on our website.