Is Solar Energy a Good Long-Term Investment?

Solar Energy InvestmentIf you are one of those homeowners who have been on the fence about whether or not solar is worth the investment, it’s time to see the light. The sunlight, that is. Harnessing the power of the sun comes with a number of great benefits, and when it comes to dollars and cents, solar is a great long term investment. Although there are a number of factors that can determine how quickly you’ll see a return, the number of immediate benefits a solar energy system provides will quickly show you just how valuable it is.

Here is a look at why solar energy is considered a great long term investment:

1) Incentives Put Solar in Reach for Many Homeowners

Some homeowners may disregard solar as an option without a second thought because they believe a solar energy system will cost more than they can afford. In reality, you may be pleasantly surprised at the final cost once incentives are taken into consideration. In many parts of the US, there are excellent tax breaks, credits, rebates, and other incentives to accommodate homeowners & business owners who are interested in investing in solar energy. Speak with a solar expert near you to find out what your state & federal incentives are that will help reduce the final cost of installing a solar energy system.

2) Escape the Rising Costs of Utilities

The cost of electricity has steadily risen year over year which can put a strain on any homeowner’s budget. By the end of this year, the average increase for electricity in the residential sector is projected to be 2.3% higher than in 2014. With oil prices once again on the rise and the supply of fossil fuels dwindling, energy costs will continue to increase. Energy from the sun, however, will not increase. The sun is abundant & free to harvest, and your solar energy system will consistently collect energy from the sun, even the cloudiest days.

3) Become more Energy Independent

The more sunlight that your system harnesses, the less electricity you will need from your utility supplier. This can significantly reduce your heating & cooling costs. Your total savings will be determined by the size of your solar system, how much power you use, and the current price of energy, but on average, homeowners save about $84 per month.

4) Increase Your Home’s Value

Did you know that the value of your home can increase by 20 times the annual electricity savings when your home includes a solar energy system? That means that a home’s value will raise an average of $20 for every $1 that is saved annually while the system is in use. According to a recent study, a solar PV energy system will add an average of $24,705 to a home’s sale price.

5) Solar Panels Require Very Little Maintenance & Upkeep

Because solar panels have no moving parts, they rarely malfunction. Most homeowners can keep their panels clean by spraying them with their garden hose to remove debris or dust. If you live in an area with heavy snow or brutal freeze/thaw cycles, it’s a good idea to have regular inspections, but overall maintenance is minimal and well worth the effort to keep the effectiveness of your unit intact.

6) Solar Energy is Extremely Reliable

tesla new home batteryThe sun has been burning for billions of years and will continue burning for potentially billions more. As other fossil fuels continue to dwindle in supply, solar energy will remain steady and powerful. If combined with a battery backup/storage system, such as the brand new Tesla Powerwall home battery system, your stored solar energy can be used during a blackout. Whether the blackout is caused by a severe storm or grid overload, you can rest assured knowing that you will be able to continue life as normal, even when you are not receiving backup electricity from your energy supplier.

There are plenty of reasons why solar is considered to be an excellent long term investment, and these are just the tip of the iceberg. If you have questions regarding solar energy or you would like to learn how you can take advantage of harvesting the sun’s power, speak with one of our local member stores. We can help set you up with a system that will perfectly suit your needs & usage requirements and will offer great returns in the years to come.

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