Going solar has a wide variety of benefits. From improving the environment to cutting energy costs, many people install solar to reduce their carbon footprint while also improving their property value. No matter your motivation, here are some top reasons for consideration:
#1 – Reduce or even eliminate your electric bills.
If you are a home or business owner, then you know that electricity costs can be a large portion of your monthly expenses and electricity prices can be unpredictable, making management of your budget difficult. When you install a solar panel system, you fix your electricity costs and make them more predictable. This is especially beneficial for anyone with a fixed income, as well as for businesses that could gain from a more stable cash flow. When you make your electricity costs more predictable by going solar, you also improve your expense forecasting and management capabilities.
#2 – Earn returns.
Solar panels are a great way to invest in your future and the value of your property. The average American homeowner pays off their solar panel system in seven to eight years and can see a return average of 20% or more. Factors impacting that return include:
- Upfront cost: Getting a good price on your solar energy system is key to maximizing your return on investment.
- Electricity rates: The higher your current electric rate, the more you save with solar.
- Financial incentives: Incentives through state and local tax and utility programs mean lower upfront costs and a shorter payback period.
- Solar Renewable Energy Certificates (SRECs): State and utility programs may purchase SRECs associated with your solar energy system production or SRECS could be sold in a state based SREC market.
- Property characteristics: Factors such as the orientation and pitch of your roof, placement of your solar panels in an unshaded location and the level of solar insolation in your location all impact the energy production of your PV array.
- Property value: Solar panel system ownership increases your property resale value while third party ownership (e.g. leasing) does not.
- Business benefits: Controlling operating expenses may lead to greater profitability for your business.
#3 – Environmentally friendly.
Many of us consider going solar to minimize our environmental impact and to address issues such as climate change and health problems related to carbon emissions. According to the U.S. Environmental Protection Agency, the average household emits approximately 20 metric tons of carbon pollution each year. If you were to install a solar power system, a typical two-person household would reduce their carbon emissions by three to four tons annually because electricity that solar panels produce is completely emissions free.
Beyond the multiple benefits, the cost of solar is dropping across the nation. Solar power systems derive clean, pure energy from the sun. So, installing solar for your home or solar for your business helps combat greenhouse gas emissions and reduces our collective dependence on fossil fuel.
If you are ready to consider solar and/or have any questions, contact a Sunsense consultant at 970-963-1420 or email Sunsense@SunsenseSolar.com
If you know of anyone who you think would like to go solar, fill out our Referral form. If the referral leads to a signed contract, you will receive $250! It pays to go solar!