[The following is a guest article]
Over the past few decades, much has been learned about solar power and the benefits it could bring to our communities. The numerous benefits of adopting solar power has resulted in a dramatic increase in the number of residential homes featuring solar panels to capture the power of the sun. People that have had solar panels installed on their homes have found that they have effectively increased the value of their home while also lowering the amount of the bills they must pay to keep their household running. Here are some of the best benefits of adopting solar power for your home.
Significantly Lower Your Electricity Bill
Installing solar panels on your home has the immediate effect of dramatically lowering your electricity bill. Solar panels can be made to fit any size home because they are modular, so the homeowner just buys as many as they need to operate their home. The larger the installation, the larger the savings, with some homeowners getting their monthly electricity bill all the way down to $0. While the initial cost of the solar panels can be considerable, the amount paid out is quickly made up by the savings received from using less electricity from the local power plant.
Increase The Value Of Your Property
Residential properties with solar panels already installed are in high demand in today’s real estate market. Because the solar panels are an investment that continues to pay for itself over many years, having solar panels on the home that you are selling will allow you to ask a higher price for the home, and probably get it. Experts have estimated that an average sized installation on a $500,000 property can add $20,000 or more to the retail value of the home.
Make Additional Income
Did you know that you could generate an additional income by installing solar panels on your home? Some states, like New Jersey and California, offer generous renewable energy incentives designed to encourage homeowners to convert to solar power for their homes. Homeowners that qualify for these incentives receive direct cash or credits from their local utility company for the solar energy produced by the solar panels on their home. If you generate more solar power than you use in electricity, you could generate a net profit every month.