As the world looks for alternative energy sources, solar panels consistently rise to the top of the list. Though homeowners may be hesitant to make such a big change, solar panels can prove to be a really bright idea.
1. Solar Panels Ultimately Pay for Themselves
On average, it costs $18,000 to install solar panels on a home. While that seems astronomical at first, it is an investment that truly ends up paying for itself. Over the course of a year, solar panels save American families around $2,400 a year, on average. Pair this with the tax incentives and programs that are available, and already that $18,000 isn’t sounding as bad. Solar panels have a life expectancy of anywhere from 15 to 25 years, depending on their size. Using average data, over the lifetime of your solar panels you could potentially save $36,000 – $60,000; not including tax incentives. Again, the situation varies depending on the state, home size, and electricity costs.
2. Solar Panels Increase Your Home’s Value
Considering the cost savings that solar panels can have on your utility bills, it makes sense that installing solar panels increase a home’s value. Studies have shown that homes with solar panels actually sell faster than those without. Buying a home is expensive and overwhelming, so when there’s a chance at saving during the process – of course people are going to jump on it.
3. Solar Panels Help the Environment
Image via Flickr by Marufish
When a homeowner installs solar panels, their greenhouse gas emissions are substantially reduced, as is the carbon footprint and pollution that comes from reduced use of coal and oil. Aside from reducing air pollution, solar panels also reduce resource mining. A big percentage of coal mined in the United States comes from surface mining; devastating mountains, forests, and even streams. Solar panels reduce the need for coal, helping in preserving the environment.
4. Solar Panels Put You in Control
Whether it’s tackling the rising cost of electricity or becoming electrically independent, solar panels allow homeowners to be in the driver’s seat and take control of their finances. Solar panels greatly reduce utility bills, and also help to separate you from being “on the grid.” Being “on the grid” means that a home is connected to State or local electricity services. If your home has solar panels, you have the option to be on or off the grid. This can prove to be extremely beneficial if you live in a more open rural area or live in a location where storms frequently occur.
Choosing to install solar panels on your home is a very big decision, but the benefits are undeniable. Once you get past the initial price shock, there’s no question that the benefits outweigh any costs.