More and more customers are choosing solar energy panels for their homes as solar panels are becoming increasingly popular as customers discover their financial benefits. In the past, the majority of the industry's customer base were expected to comprise of younger people, but now a number of customers nearing retirement age have begun to install solar panels as well. The growing popularity of solar energy is partly due to the increased awareness of the positive impact renewable energy has on the environment. But the main factor, however, is solar panels' growing affordability.
Solar panels have always been a financially sound long-term investment, but in the past, some customers were deterred by the upfront cost of the panels. Over the last few years however, solar panels have become an extremely affordable option due to the sharp decrease in cost. When China predicted the potential of the solar energy market a few years ago, it proceeded to build a lot of solar panel factories within the country. This resulted in an oversupply of panels which consequently decreased their prices around the world.
In addition, companies like SolarMax have started offering cost-effective financing options so that customers don't have to worry about paying a lot upfront.
Once you have installed solar panels, the savings quickly become apparent. A home without solar panels will pay an average of 12 cents per kilowatt hour for their electricity, while a solar home will only pay around 5 cents.
Along with continued savings, residential solar panel installation provides the long-term benefit of increasing a home's value. Homeowners find it easier to attract buyers and ask for a higher price when they can offer a home that's already set up for energy efficiency and the related savings.
To learn more about solar financing and home solar panel installation, contact SolarMax Technology today!
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