Getting solar panels installed are a popular investment, as not only do they help cut energy costs but they also help improve the environment by producing clean energy. People have become aware of the efficiency, utility and value solar panels can bring to a property.
Common motivations for getting solar panel systems are environmental, economic, personal or a mix of these three. This list of solar power benefits will show you the reasons why you should get a solar panel system installed, regardless of your motivations.
Reduce Your Energy Bill
Whether you are looking at business costs or your bills at home, your monthly expenses will include your electricity bill. Having a solar panel system allows you to provide yourself with free energy throughout the system’s lifespan. Local solar panel provider Greenbuild notes that regardless of whether your solar system can sustain 100% of the energy you use or not, it will at least save you money by minimising your utility bill.
Mitigate Rising Energy Costs
One of the most prominent benefits of getting solar panels is the ability to reduce your electricity bill by producing your own energy. With electricity prices rising over recent years, investing in a solar system will help protect you against unpredictable cost rises. Solar systems will help stabilize your electricity bill, allowing you to more accurately account for it when making a budget.
Great Return On Investment
Solar panels can initially look like a big expense, but they are actually a great investment to make for your property with returns similar to more conventional investments like stocks. With the savings you get on your electricity bill, you can effectively pay off your solar panel system in roughly 7-8 years before you start seeing a return on investment of around 20% depending on how much electricity your solar system can generate.
Increase Property Value
It has been found that properties with solar panels installed have higher property values, also selling more quickly in comparison to properties without any solar installations. Property appraisers are increasingly taking solar energy systems into considerations when valuing property at the time of a sale. This is because the demand for properties with solar panel systems continues to rise as prospective buyers continue to become more educated about solar panels and the benefits they provide.
Preserve The Environment
Solar systems are a great, efficient strategy in reducing your carbon footprint. Buildings make up roughly 35% of carbon emissions, with solar systems helping decrease that statistic. An average residential solar panel system can have the same effect on carbon emissions as planting over 100 trees annually.
As it continues to grow, the solar industry creates job opportunities at a faster rate compared to the overall economy. As jobs in the solar energy system industry cannot be outsourced and pay well, they contribute significantly to the economy. The solar industry is expected to keep growing in the future, and its economical benefits will only continue to rise with technological innovations and experience over the years to come.