The market for solar energy in the U.S. is growing more robust and getting stronger each year. Solar power has never been so readily available to American households and businesses. There are many benefits to an investment in solar power that will become more prevalent in the future.
Star Solar Specialists’ Top 10 Benefits of Solar Power:
1. Save Thousands of Dollars
According to Berekley Lab News Centre, adding solar panels to a home can bring in monthly savings of well above $100 in many states. Extended over two decades (less than the length of a typical solar panel warranty), this translates to a possibility of over $30,000 in savings! Are you curious about how much you can save by going solar? Contact us for a consultation.
2. Start Saving from Day One
As soon as our Star Solar Specialists team installs your new, shiny solar panel system, the Federal government will give you back 30% of the overall cost of the system (including any strengthening required for your roof). Wow! Nearly a third of the cost comes back in tax credits – that has to make you feel good! You haven’t even started to save on electricity costs yet!
Commercial businesses can also depreciate 85% of the cost of the system over six years against your tax liabilities. Guess what? You haven’t even started to save on electricity costs yet!
Where does this good new stop I hear you ask? Not yet! In some cases, the USDA will offer a 25% grant towards the whole cost of your system and provide financing for it too! You haven’t even started to save on electricity costs yet!
In Indiana, if your system produces more electricity than you can use, the local electricity provider will buy back the excess at the same rate that you buy it from them.
3. Short Payback Period
The payback period is in many cases less than ten years. If you decide to move, Star Solar Specialists can take the system down and install it on your new house.
4. Increase Your Home Value
Solar panels will increase a home’s attractiveness on the market, similar to homes with low property taxes, homes in good school districts and homes with good Home Energy Ratings (a measurement of energy efficiency). Guess what? The value added to your property by the solar panels well not increase your property taxes! In Indiana the value added by installing solar is exempt from property tax and in Kentucky the increase only applies when you sell the home.
A study conducted by National Renewable Energy Laboratory (NREL) concluded that homes with solar panels sell 20% faster and for 17% more money. The U.S. Department of Energy’s Lawrence Berkeley National Laboratory found that the sales price of the average home increased $17,000 with solar panels.
5. Take Advantage of Incentives
As we have said, you will get 30% of total system costs back (equipment and installation). Combine this with any state and local rebates where available, Solar Renewable Energy Credits & SREC’s and total costs can be cut in half. To find out what state and local incentives could apply to you, sign-up for a free consultation with Star Solar Specialists.
6. Solar is a Secure Investment for your financial future
Utility companies are notorious for fluctuating and unreliable electricity prices. We think you will agree that the trend is upwards. With solar panels and simple math, we can calculate how much electricity will be generated from your system, and most importantly, at what price, for at least the next 20 years (fixed energy costs).
7. Guaranteed Performance
The solar panel products that we purchase and install for our clients include a 25-year warranty. Industry standards guarantee 80% performance after 25 years. The actual lifespan of solar panels is expected to be much longer, likely to still generate a good amount of electricity 30-40 years after purchasing.
8. Save the Environment
We know that the majority of homeowners choose to go solar because it makes good sense from a financial point of view. With that being said, the environmental benefits are also worth mentioning. The U.S. places second in the world in annual carbon dioxide emissions at 17.9%, right behind China. You can go a long way in lowering your carbon footprint by replacing utility power with clean electricity from solar panels.
The average residential solar system offsets about 100,000 lbs. of carbon dioxide in 20 years – the equivalent of driving a car for 100,000 miles!
9. Create Energy Independence
The U.S. relies on net imports for about 40% of the petroleum (crude oil and petroleum products) that we consume. You can help to reduce the nation’s dependence on foreign energy by switching to a solar energy source.
10. We Make Solar Easy
Shopping for solar used to be a long and complicated process, but not anymore. If you are interested, Star Solar Specialists can remotely survey your property and provide an initial assessment via email. It will include information on what we can install, an estimate of the install cost, and how much you could potentially save. If you decide it is a good investment for you, we can schedule an appointment to come to meet at your property and carry out a full survey before proceeding.
Going solar has never been easier. Our dedicated team will be there to help you sort through your options, see how much you can save, and answer all other solar questions. Request a free consultation today — there’s no obligation!