Solar panels are a great way to offset your energy costs, reduce the environmental impact of your home and provide a host of other benefits, such as supporting local businesses and contributing to energy independence.
If you are looking to install solar panels on your home, look at these benefits as to why solar panels should be the common energy source for households.
Start saving from day one:
Annual energy costs can be in the thousands. Solar power can reduce or eliminate these costs as soon as they are installed. They also offer long-term savings, since it is free to capture the solar rays from the sun. Solar panels significantly improve your resale value. Most home buyers understand what a home with solar panels means—especially because the system is already in place and they didn’t have to make the initial investment and installation.
Solar panels also extend the life of a roof because they protect from the elements, such as rain, snow and debris. They make the house more energy-efficient in the summer because the hot sun is not beating down on the roof directly—it is instead being absorbed by the panels, keeping the house temperature lower.
Earn tax credits and rebates:
To start, you are eligible to receive 30 percent of total system costs back from equipment and installation as a federal income tax credit when you file your taxes. This means you would save $7,500 on a solar system worth $25,000.
Combine this with state and local rebates and Solar Renewable Energy Credits (SRECs), and total costs can be cut in half. The SRECs are generated throughout the year, and you can sell them to utility companies, which generates a very impressive return on the initial investment.
In DC the Renewable Portfolio Standard Expansion Act of 2016 raised the renewable portfolio and solar requirements to 50 percent by the year of 2032. In addition, the bill establishes a program within the Department of Energy and the Environment to assist low-income homeowners with installing solar systems on their homes.
The idea behind the act is to incentivize the continued growth of D.C.’s solar industry, which has grown by 170 percent over the last year.
Many installers also offer a no-cost installation, where they front all the money for the panels and installation and charge for electricity at a reduced rate. They are basically “leasing” your roof space and giving you a discount on the electricity in return. This is a good option for homeowners who do not want to make the initial investment or would prefer a no-money-down option. The installer collects all the proceeds from the SRECs in this case.
Helping the environment; mitigating climate change:
Solar power systems derive clean, pure energy from the sun. Installing solar panels on your home helps combat greenhouse gas emissions and reduces our collective dependence on fossil fuel. We are all aware that fossil fuel emits harmful gases that are the primary cause of air pollution and climate change. Not only are fossil fuels bad for the environment, but they are also a finite resource. Because of this, the price is constantly fluctuating and can increase in a short period of time.
Renewable energy also improves public health. Coal and natural gas plants produce air and water pollution that is harmful to human health. But replacing fossil fuels with renewable energy sources, such as solar power, can reduce premature mortality as well as overall health care costs.
So, if this that does not get you excited, I really do not know what will. Invest in solar energy! It makes absolute sense