As the discussion about climate change intensifies in the news, consumer questions about solar panels continue to grow. If you’ve been on the fence about making a change to a more sustainable energy source, these ten reasons to convert to solar energy by adding panels to your home or business will convince you.
1. Money-Saving Potential
There is no doubt that electricity bills can comprise a large portion of your monthly budget. One of the best reasons to switch to solar energy is the fact that you can experience significant savings in your monthly power bill. For example, Clean Technica estimates that solar panel installation in NYC can result in a monthly savings of $130. In Nevada, it’s $145. Even Alaskans can save an average of $65 per month by going solar.
A huge reason why this works is a relatively new system called “net metering.” Prior to net metering, a homeowner typically stored solar power in localized batteries. Now, you can feed into the grid and either pay the power company if you’re a net user or receive a cheque from them if you’re a net producer (or receive credits from your power company that go towards months when your production doesn’t meet your electricity needs).
2. Tax Credits for Businesses
Regardless of the political discussions revolving around solar energy, governments tend to offer some form of tax credit or incentive for switching to solar. If you convert your U.S. home to solar energy, for example, the Solar Investment Tax Credit (ITC) means you could receive a sizeable tax credit from the United States government. That incentive is ramping down, however, so the sooner you investigate, the better. And, depending on which state and municipality you’re in, you may receive state or local incentives as well. See number 3!
3. State and Local Incentives for Residential Homes
Benefits and incentives vary by state, but local governments offer tax exemptions, benefits and credits in many locations. For example, converting to solar energy in New York will make you eligible for more than 100 incentives. You can search the DSIRE database for up to date incentives in every state.
4. Good Financial Investment
Are you planning on selling your home sometime in the future? Converting to solar power may result in buyers being willing to pay more for the home in order to have the power upgrade. Many buyers are happy to pay a “green premium” for environmentally-friendly upgrades that save them money in the long run. Some buyers don’t even know they want solar until they see a home that has it (and the low electricity bills that come with it). Prepare for a bidding war.
5. Jobs and Economic Growth
Many jobs in the non-renewable energy sector are experiencing a lack of growth, due to unhealthy work conditions or a crowded workforce. By choosing to go with solar energy, you are increasing the demand for a more sustainable form of energy and helping to create more jobs that require skilled labor. This can benefit have a tremendously positive effect on the overall economy. Shifting to sustainable energy offers countless opportunities for new research, innovation and production.
6. Environmental Benefits
Not only do traditional power sources such as coal and electricity contribute to global warming, but the facilities that produce them often contribute to water pollution. In addition, modern mining and oil production practices such as fracking, while efficient, wreak havoc on the land and the local environment. Solar energy relies upon energy converted from the sun and does not have these negative environmental effects.
7. Guard Against Price Increases
One of the trickiest parts of coming up with a budget and sticking with it can be the constantly increasing energy costs. In the last ten years, the average cost of electricity has risen in the U.S. and is forecast to keep rising. While the costs may seem manageable, if you invest in solar energy powered home, your energy source won’t be dependent on the many changing factors that determine electricity costs. You may actually end up being paid more for your excess energy should prices rise.
8. The Durability of Solar Energy
Even though solar panel efficiency might be affected by the elements, the panels themselves are designed to be durable enough to handle extreme weather. And remember, you’re never disconnected from the power grid. Should you experience a period of little or no sunlight, you can always draw from the grid until your panels are producing electricity again.
9. Selling Extra Power Produced by Panels
During sunny periods and long daylight hours, your solar energy panels will likely produce more energy than you need. As we mentioned, some states will actually offer you money in order to be able to use any excess energy that you feed into the grid. A solar electricity consultant can help project your current usage vs. expected output when you’re estimating the size of system you’ll need.
10. Easy Installation
The installation of solar energy panels is not complex. The people who install and replace solar panels are trained to be able to install panels on most residences. Unlike electrical lines and natural gas units, there is very little danger involved in installing the panels.
Pros and Cons of Photovoltaic Cells
While solar panels are great, they’re not ideal for every situation. If you live in a rental unit or a condo with very little roof space, solar panels may not be in your best interest. The initial investment can be cost-prohibitive, but most solar programs include financing that still makes it a good financial move. On the other hand, because of the ubiquity of solar panels, there is now a substantial infrastructure for anyone who’s considering this popular renewable energy. Your best move is to consult with a local solar consultant for a solar usage analysis.
Feature image: Pixabay; Image 1: Daniel Frank
