By the end of 2021, the number of solar panel installations in the US is poised to exceed 3 million. By 2023, that number will exceed 4 million.
6 Reasons You Should Install Solar Panels in Your Home
These numbers may not seem like a big deal until it becomes clear that it took over four decades for the number of solar panels in America to cross the 1 million mark.
The truth is that Americans are embracing solar energy in numbers never seen before. And while solar panel installation costs anywhere between $11,144 and $14,696 after solar credits, which is by no means a small figure, most homeowners can see past this cost to the huge ROI of switching to solar.
But exactly what are the benefits of investing in solar panels? Read on to learn more.
1. You Get to Enjoy Certain Tax Breaks
Homeowners who invest in solar panel kits get to enjoy additional tax breaks that can help them recoup some of their initial investment costs.
The primary reason the government implemented these tax breaks was to encourage homeowners to make the switch to solar.
So, what amount of tax break should you expect? Well, that depends on what year you installed the solar panels.
Take note that the tax credit bill will expire at the end of 2021. Unless Congress renews the bill, no further tax breaks will be implemented.
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That means if you hope to enjoy tax breaks for solar installation, now’s the time to make the switch to solar. So, who can claim federal tax credits? Here are the requirements:
- The solar panel system was installed between 2006 and 2021
- You are the owner of the solar panel system
- The installation is in your primary or secondary US residence
- You are the first-time user of the solar panel system
As long as you meet the criteria above, you qualify for tax breaks.
2. Your Electric Costs Drastically Reduce
The primary reason for adopting solar energy is to save on electricity. Energy costs make up a large part of your monthly utility bills.
That’s why you’ll notice a significant difference in your monthly utility bill once your solar panel system becomes operational.
Of course, it may take years before you break even, given the initial solar panels cost. However, the savings will be substantial in the long run.
Besides, you always have the comfort of knowing you have an additional power source if you don’t completely get off the grid.
Some solar panel systems produce excess energy. In such cases, power grid systems allow homeowners to sell off the extra power, which makes solar panels a worthwhile able long-term investment.
The process of selling off excess power is called net metering. You earn credits for any unconsumed power you add to the grid. These credits can then be used when you need energy from the grid.
3. Solar Panels Increase Home Value
Solar panels for home is one of the home upgrades that instantly enhances the value of your property. This is especially important for homeowners who intend to sell their homes at some point.
Indicating that your home comes with a solar panel installation can be a major selling point, and sellers will be willing to give better offers as a result.
But even if you have no intentions of selling your property soon, you can still leverage the higher bigger equity that your home has once you install solar power.
The greater the worth of your home, the more money you’ll be able to get out of it, especially if you opt for a reverse mortgage. In reverse mortgages, your lender pays you as you own a majority stake in your home.
4. Solar Energy Has Many Environmental Benefits
The biggest percentage of carbon emissions in the US is attributed to residential buildings. Making the switch to solar can help reduce these emissions significantly. That’s because solar energy is clean, unlike burning fossil fuels.
A single solar panel eliminates tons of carbon emissions per year. Ultimately, switching to solar helps create a sustainable environment for everyone.
Installing RV solar panels on your roof has the added advantage of absorbing solar rays from hitting the roof directly. This helps keep your indoor space cooler, reducing the need to spend energy on cooling.
5. You Minimize the Costs Associated With Power Interruptions
Few things are more annoying than unexpected power blackouts. But abrupt blackouts do more than just annoy you.
They can cause damage to your electronics, setting you back a lot of money in repairs and replacements.
For those who have home offices and rely on electricity to keep things running, unexpected power outages can lead to losses in revenue.
With a solar panel system, such inconveniences and losses are a thing of the past. You have a constant supply of energy to stay productive while keeping your appliances safe.
6. Solar Panels Are Low Maintenance
Compared to most other sources of energy that a homeowner can have, such as standby generators, solar panels are remarkably easy to maintain.
After installation, you’ll need to clean the panels from time to time to remove dust particles and increase their sensitivity to the sun.
On occasion, you’ll need to inspect them for any issues, which you can easily do using a drone. This complete guide on solar panel inspection tells you all you need to know about that.
Make the Switch to Solar Energy Today
US homeowners are opting to install solar panels in large numbers, and it’s easy to see why. Besides earning impressive tax credits and cutting energy costs, solar energy can help you boost your home’s value significantly.
Moreover, solar energy is friendly to the environment, which is a major benefit at a time when climate change is such a huge threat.
Would you like to read more content on solar energy? Please keep visiting our blog.
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