Reputable solar manufacturers offer extensive product warranties and customer support. These warranties can last between 20 and 30 years and protect your investment over time.
When solar panels convert sunlight into electricity, your home consumes less energy from the grid. This decrease in demand results in a lower utility bill, allowing homeowners to enjoy immediate savings. For homes that have a high electric usage, the payback period can be even shorter thanks to financial incentives that reduce upfront costs and/or shorten the length of your energy contract. Read on Best Solar Companies in Illinois for more information.
In addition to saving money on electricity, going solar helps save money on maintenance and replacement parts. This allows customers to reinvest the money they’ve saved into other projects around their home, like energy efficiency upgrades or making that dream vacation a reality.
For businesses, using solar energy can also save money on operating expenses. This is especially true for businesses that operate during peak hours of electricity use. Additionally, using solar power can help businesses maintain a green and sustainable image that attracts customers and clients who care about these types of business practices.
The exact process and amount of money that you can save will vary depending on your electricity usage and the size of your solar system. However, on average, solar customers can expect to save $1,500 per year. This savings can be used to offset your electricity costs, reduce debt, increase your retirement or children’s college funds, or make a donation to that nonprofit you’ve always wanted to support.
Many states and local authorities offer financial incentives to encourage the use of solar power. These can include cash rebates, property tax exemptions, and performance-based incentives. These incentives can help you save on the cost of going solar and make it more financially feasible than ever to switch to renewable energy.
For homes and businesses that don’t want to install their own solar system, community solar is an option. With community solar, you can purchase electricity from a nearby solar farm that’s connected to your local power grid. When the system produces electricity, your utility company will credit your account with those credits. When it’s time to send you a new bill, your adjusted one will reflect the solar credits that have been applied to your account.
Reduce Your Carbon Footprint
Choosing solar is not only good for your wallet, but it’s also a great way to reduce your carbon footprint. In fact, it’s one of the best ways to fight climate change. Studies show that photovoltaic systems lower CO2 emissions significantly over their entire lifetime compared to fossil fuels, and they even make up for the energy it takes to manufacture them within just a few years.
Another thing to keep in mind when choosing a solar company is that they should be environmentally responsible. Look for a certified B Corp, which means that they are committed to climate justice with products and services designed for positive impact.
One example of a green business is First Solar. Their Ohio manufacturing facilities have been twice awarded platinum ratings in the Responsible Business Alliance’s intensive Validated Assessment Program (VAP). This certification demonstrates that the company is using sustainable energy, reducing greenhouse gas emissions, and working with partners who are doing the same.
If you want to go green, start by measuring your carbon footprint. There are many tools available to help you determine how much CO2 your business produces and what specific activities release the most. Once you know the numbers, you can start planning ways to decrease your footprint.
For example, if you have a large data center, consider moving to an electric vehicle (EV) charging station for your employees and contractors. This will not only cut your carbon footprint but it will also save you money on maintenance and operations costs.
Another option is to install a solar thermal system. These plants use sunlight to heat water for heating and cooling, which reduces the amount of energy required from fossil fuels. Additionally, they can be used to create a renewable-energy microgrid for a remote community, cutting electricity costs and lowering carbon emissions.
In addition, the federal Investment Tax Credit (ITC) is a big incentive for installing solar panels. This credit is worth up to 30 percent for residential, commercial, and utility-scale projects. You should consult with a qualified tax advisor before making any financial decisions.
Increase Your Property Value
Whether you’re considering selling your home in the near future or you plan to stay for decades, solar energy can help increase your property value. Studies show that homes with solar power sell faster and for a higher price than those without. In addition, solar can help reduce your energy bills and make your home more attractive to potential buyers.
The Location of the Solar Panels
As with any home improvement, the location of your solar panels will play a major role in their impact on your property value. This is especially true in sunny regions such as Denver, CO. However, even in less sun-friendly areas, a quality solar panel installation will still boost your property value.
In fact, a recent study conducted by Lawrence Berkeley National Laboratory found that homes with solar energy systems saw an average resale value increase of four percent. This is largely due to the fact that homebuyers are willing to pay more for a home with solar energy.
A solar system will not only save money on electricity costs, but it will also help protect homeowners against rising utility rates. This means that homeowners will see immediate savings and a greater return on their investment in the short term, while prospective buyers will be able to factor these benefits into their purchase price.
Furthermore, if you choose to install energy storage solutions like batteries, these can further enhance your solar system’s impact on your property’s value. This is because they will help you to stay resilient during outages and inclement weather, which can be a significant selling point for your property.
It’s important to note that these resale benefits will only be available if you own your solar energy system rather than leasing it. A leased solar system won’t be an attractive feature for potential buyers, and it will complicate the sale process. For this reason, we recommend choosing a reputable solar company to design a quality, scalable system that will be an asset when you are ready to sell your home. We can provide you with a free consultation to get started.
Increase Your Home Value
Homeowners who choose to invest in solar energy may be able to see increased property value at the time of sale. This is because potential homeowners will be more likely to pay for a home with lower energy bills, which can significantly reduce a homeowner’s monthly expenditures.
Many locations do not factor the value of a solar system into property taxes, which can make it even more attractive to prospective buyers. Additionally, a solar home is less likely to be negatively affected by changing energy prices, which can be especially important for homeowners in areas with volatile energy rates.
It is important to note that this property value increase only applies to homes that have fully owned solar energy systems. Leasing or PPA systems will not provide any additional value and, in fact, can actually complicate the process of selling a home. Fortunately, there are now numerous companies that offer cash and loan options for solar energy, which can allow homeowners to keep their solar energy systems even after they sell their home.
The best way to find out how much a solar system can add to the value of your home is to consult with a reputable solar installer. They can walk you through the benefits and costs of various options, so that you can make an informed decision that is right for you and your family.
There is a growing body of evidence that shows solar can increase a home’s value. For example, a recent study by Zillow found that homes with solar sold for 4.1% more than comparable homes without. This is a significant premium and can help cover the cost of the system.
As electricity and gas prices continue to rise, more and more homeowners are investing in solar power to save money on their energy bills. If you want to take advantage of this opportunity, contact the experts to learn more about how available incentives and tax credits can help pay for your clean energy project. We will also be able to assist you in finding an approved solar contractor to install your system, so that you can start enjoying the financial and environmental benefits of solar energy today.