The solar energy industry is experiencing massive growth as the need for renewable energy sources become increasingly important. In the last year alone, solar power generation increased almost 30% with 1 million US homes using solar panels.
With many investment opportunities, it can be hard to tell if it will actually save you money in the long run. Will it be worth the initial investment? With the best solar panels, you can be sure that you will be saving both money and energy.
Keep reading to learn just how solar energy can benefit you.
One of the main draws of solar panels for homes is that they will help you save on the amount of energy you’re using.
According to the Environmental Protection Agency, electricity and energy generation along with greenhouse gas emissions are among the leading causes of climate change. The United States is second in the world for carbon dioxide emissions. And, on top of that, the average home produces 7.5 tons of carbon dioxide gas annually.
Solar panels can significantly reduce your home’s energy usage as well as reduce the amount of carbon dioxide you produce. While it does depend on where you live and the amount of sun your home is exposed to, the average solar panel system saves 200,000 pounds of carbon dioxide over a 25 year period.
Save the Environment
We already mentioned that solar power can reduce your energy usage, which will reduce your carbon footprint.
Solar energy is also a way to go green by using a sustainable, renewable resource. Coal, oil, and gas are finite resources that will run out once we use them all up. Solar, on the other hand, can be used indefinitely. The sun will always keep shining on the world (well, except during eclipses).
The best solar panels can help the environment in other ways as well. Burning fossils fuels like coal and natural gas produce harmful greenhouse gasses. But, as we mentioned earlier, the amount of greenhouse gasses produced via solar energy is significantly less. In fact, it’s around 300% less.
Compared to other types of energy generation, like the burning of fossil fuels, solar power uses around 86% less water and 80% less land. Solar power also leads to over 95% less toxicity, acid rain, and harmful algal blooms, all of which have a negative impact on the environment.
Besides all of the great benefits to the environment and to energy savings, the biggest benefit of solar energy is the financial savings.
Saving on Energy Costs
Perhaps the most obvious area of savings is with your energy costs. We already mentioned that solar panels can significantly reduce your carbon footprint by reducing the amount of power you’re using to produce electricity.
With traditional energy production, the average American uses almost 11,000 kilowatts of energy per year. This translates to around 111 dollars per month of energy costs.
With the best solar panels, you could cut your energy bills in half. This can save you hundreds of dollars per year. And when you think about it in the long term, you could be saving thousands of dollars.
Using finite resources for energy, like fossil fuels, can also result in high energy costs. The market for fossil fuels can often have extremely high prices, depending on trade, taxes, and the fact that these are finite resources.
Using a renewable, sustainable resource like solar energy will allow you to avoid the often high prices of finite energy resources.
Besides the direct energy costs you’ll be saving on, there are also numerous government incentives for solar energy systems. While the installation and maintenance of solar power systems can be quite an initial investment, government incentives allow you to save thousands of dollars on these costs.
There are also federal and state-specific Solar Renewable Energy Certificates (SRECs) that allow you to earn money off of your solar power system. SERCs can be worth hundreds of dollars. They will allow you to both save and earn money on your initial investment.
Performance-based incentives (PBIs) vary state to state. These incentives will actually pay you money based on how much solar energy you produce with your solar panel system.
Tax credits also vary from state to state. Tax credits on solar power systems will allow you to deduct a certain portion of the overall cost of your solar system’s installation.
There are also some rebates that you can get from either the utility company, the state you live in, or other organizations. These rebates can reduce the cost of your solar panel system, which will save you money in the long run. Be sure to do your research on these rebates, as they are sometimes only available for a limited amount of time.
Increase Home Value
Lower energy costs and the initial investment into solar power will add significant value to your home.
Research shows that solar power systems can increase your home’s value by 4%, which can amount to thousands of dollars. So not only will you save and earn money from a solar power system while living in your home, but you’ll also be able to make a potential profit if you ever sell your home.
The Best Solar Panels Can Help The World and Your Wallet
Going green is a hot topic in the modern era, and for good reason. NASA estimates that the world’s temperature could increase another 10 degrees over the next 100 years unless we take drastic action.
Solar energy is one step many of us can take to help reduce carbon emissions and energy usage. Solar power can save energy and reduce our carbon footprint. Of course, it doesn’t hurt that the best solar panels can help save, and even earn, some money in the long run.
If you’re interested in other types of life-changing technology and tech news, check out our other articles about technology on our blog.