Did you know that solar panels provided almost 40 percent of new energy generated in the U.S. in 2020? Compare that to only four percent produced in 2010 and you’ll understand why considering solar panel installation for your home is worth it.
Whether you’re just looking to save money on energy bills or you want to make a difference in the environment, there are definitely benefits to switching to solar energy. If you’re on the fence, though, we’re here to talk about a few of the biggest benefits.
Read on to learn more.
1. Cheaper Energy Bills
While you do face an initial investment when purchasing your solar panels, you’re going to end up saving more in the long run. You start producing your own energy this way, meaning you cut out the need for your electricity company. Since you’re no longer having to pay them, your bills are going to decrease by a lot.
The trick here is to install not only the right amount of solar panels but the right size. It’s easy to assume that you need a lot of solar panels to power your entire home, but the actual amount might just surprise you.
It’s also important to trust the right service provider when you’re getting quotes and researching services.
2. Environmentally Friendly
It’s no secret that utilizing solar energy makes a much smaller impact on the environment than traditional sources of energy, and it definitely puts out fewer emissions than other sources, but there are other reasons behind it being less impactful to the environment.
With traditional energy sources, like coal, oil, and even natural gas, the environment is left with greenhouse gases, air pollution, water pollution, and you even run the risk of natural gas leaks. These sources are also non-renewable, and they’re being quickly depleted.
Solar energy is a renewable resource, and you lose all the risk that comes with leaks and pollution being sent into the atmosphere.
3. Low Maintenance
Solar panels also require very little in the way of maintenance besides occasional cleaning. When maintenance is finally needed, your installation company is more than likely going to be the one dealing with the upkeep, meaning little to no work needs to be done on your end.
To clean your solar panels, all you have to do is wash the dirt, dust, and debris off (which professionals can also do for you). If you want to do it yourself, though, all it typically takes is a leafblower or a quick spray from your hose. During the winter — especially after heavy snow — you might need to clear it all off with lukewarm water or a long-handled squeegee.
No matter what you do, though, remember to never use hot water when you’re clearing debris from your panels. They’re made from tempered glass, and the extreme temperature change can cause the panels to crack.
4. Incentives and Rebates
Did you know that in December 2020, Congress passed an extension of the Investment Tax Credit on solar panels? That means homeowners can claim a 26 percent tax credit for systems installed between 2020 and 2022. In 2023, that tax credit goes down to 22 percent.
The great part? There’s no maximum that can be claimed on this credit, and it covers everything from the equipment and labor costs to energy storage devices and the sales tax.
5. You Might Earn Extra
In addition to the tax credit you can claim, you also have the potential to earn extra money each month. If your solar panels produce too much energy for your home, then that extra power gets sent back to the grid. Energy companies can then pay you for that extra energy.
Another route you can take is renewable energy certificate (REC) monetization. Put simply, a REC allows you to cash in from another buyer in exchange for your energy — effectively creating another income stream. That money is likely to be considered taxable income, which increases your gross income, but has no effect on your tax credit.
6. Higher Home Value
While you might save money on bills when you install solar panels, you also increase your property value for when you someday go to sell your home. A lot of homeowners make small improvements over many years for this reason anyway, why not add solar panels to the mix?
Energy efficiency is important for homeowners nowadays, and it’s a really strong selling point no matter what area you’re located in.
7. Warranties
Another one of the biggest benefits of solar power is the warranties that come with its installation. Most home solar system providers are going to offer guaranteed performance in their warranties, some for as much as 25 years. Most of these warranties are going to also come with maintenance, cleaning, and anything else that might be essential for your panels’ care.
It’s important to research the company you’re looking to trust with your home. You can see how long they’ve been in business, what other clients they’ve had, and even how much longer they’re expected to stay in the solar industry. Remember, your warranty is only good as long as your client is still in business.
If they leave the industry, they take your warranty with them.
Is Solar Panel Installation Right for You?
Now that we’ve gone through a few of the biggest benefits of solar panel installation, are you ready to get started? While it’s definitely a worthwhile investment, the decision to invest in solar panels isn’t going to be right for everyone. It’s important to consider your situation first, and then make your decision from there.
The most important thing, though? Finding a trustworthy and reliable solar panel installation company to work with, and that’s where we come in. Schedule a free consultation with our automated tool to get started today.
