As the world looks for alternative energy sources, solar panels consistently rise to the top of the list. Though homeowners may hesitate to make such a big change, solar panels can be a 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 initially, it is an investment that truly pays for itself. Over a year, solar panels save American families around $2,400 a year, on average. Pair this with the tax incentives and programs available, and already that $18,000 isn’t sounding as bad. Solar panels have a life expectancy of 15 to 25 years, depending on their size. Using average data over your solar panels’ lifetime, you could 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 increases a home’s value. Studies have shown that homes with solar panels sell faster than those without. Buying a home is expensive and overwhelming, so people will jump on it when there’s a chance at saving during the process.
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 resulting from reduced coal and oil use. Aside from reducing air pollution, solar panels also reduce resource mining. Most coal mines in the United States come 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 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 a home is connected to State or local electricity services. You can be on or off the grid if your home has solar panels. This can prove extremely beneficial if you live in a more open rural area or live in a location where storms frequently occur.
Installing solar panels in your home is a huge decision, but the benefits are undeniable. Once you get past the initial price shock, the benefits outweigh any costs.
