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Whether you’re a homeowner, business, or nonprofit, electricity costs can make up a large portion of your monthly expenses. With a solar panel system, you’ll generate power for your system’s entire 25+ year life cycle. Even if you do not produce 100 percent of the energy you consume, solar will reduce your utility bill.
Solar panels are not an expense – they are one of the best ways to invest, with returns rivaling those of more traditional investments like stocks and bonds. Thanks to substantial electricity bill savings, the average homeowner pays off their solar panel system in seven to eight years.
One of the most clear cut benefits of solar panels is the ability to cut out utility prices. In the past ten years, residential electricity prices have gone up by an average of four percent annually. By investing in a solar energy system now, you can control your electricity rate and protect against unpredictable increases in electricity costs.
Multiple studies have found that homes equipped with solar energy systems have higher property values and sell more quickly than non-solar homes. Appraisers are increasingly taking solar installations into consideration as they value homes.
The sun is a near-infinite source of energy and a key component of achieving energy independence for your home or business.
According to The Solar Foundation, the solar industry adds jobs many times faster than the overall U.S. economy. This growth is expected to continue. Because solar-related jobs tend to be higher paying and cannot be outsourced.
Solar is a great way to reduce your carbon footprint. Buildings are responsible for 38 percent of all carbon emissions in the U.S., and going solar can significantly decrease that number. A typical residential solar panel system will eliminate three to four tons of carbon emissions each year—the equivalent of planting over 100 trees annually.