The Financial Benefits Of Solar For Your Home
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The Financial Benefits Of Solar For Your Home

Financial Benefits Of Solar For Your Home

Solar For Your Home

Home solar panels are a great way to take advantage of the sun's energy, and as you probably know, they can also save you money. If your home is a good candidate for home solar, your system might pay for itself in as few as 5 or 6 years, and then generate free electricity for another 20 years after that. Do you like the idea of two decades of free electricity? Of course you do! This is perhaps the main reason why homeowners choose to go solar. Your actual payback period will depend on a few important factors: net metering rules, state and local incentives (in addition to the federal tax credit), how much sun your solar panels will receive, and your utility cost of electricity.

It's pretty well known that a smartly done renovation, such as a kitchen or bathroom upgrade, can more than pay for itself. If you spend, say, $30,000 on upgrading your kitchen, the increase to your home value could be a lot more than $30,000. The same goes for Solar Roof installation Broward Fl. According to one study, solar panels add $4 to the value of your house for every watt. This means that if you install a 6 kW solar array, you could be adding $24,000 of value to your home. This means that, right away, your solar may have paid for themselves—even before considering the value of the electricity they will generate!

When you install a home solar panel system, you are essentially locking in the price of your electricity for the life of the panel. This means that you are pre paying for your electricity for decades to come—and it can mean significant savings. While the upfront cost of buying a home solar system (usually a few thousand dollars after incentives) is certainly a large financial hit, it also means that you are pre-paying for your electricity for over 25 years. This protects you from utility rate increases, which nationally averages out to around a 2% increase every year. While your electricity bill usually won’t be zero due to minimum service charges, your average monthly bill might be as little as $20 or so. This can make your family budgeting easier going forward.

Compared to other equipment you might have in your home, such as a furnace or generator, solar panels require little or no maintenance. Unless you live in a particularly dusty area (such as a desert climate), your home solar panels could easily work for decades or more with no work from you or cost of maintenance. Solar panels just sit on top of your roof and silently generate electricity for years. The only exception is if you live in a dusty area with little rain, in which case you may want to periodically wash your solar panels, which is something you can do yourself with inexpensive equipment.

There are many benefits of Solar Roof installation Broward Fl in your home, but one of the most important is that it's good for the environment. While it takes energy and raw materials to make a solar panel, after an average of 3 or 4 years the solar panel will have generated more electricity than was needed to manufacture it. After that, a solar panel is a net environmental positive, generating clean electricity and offsetting air pollution and greenhouse gas emissions from the electric grid. Climate change currently is one of the most pressing global issues, and scientists agree that switching to renewable electricity is imperative if we’re going to have a shot at averting its worst effects.

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This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
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