Solar energy was first idealized as an unlimited resource that would require little maintenance and produce zero-emissions. As the cost of solar panels has dropped since those early days, making residential solar panel installation not only realistic, but marketable, even more benefits have become apparent. If you are considering installing solar panels for your home, keep these three advantages in mind while making up your mind.
1. Increase the value of your home
New research by the U.S. Department of Energy's Lawrence Berkeley National Laboratory finds strong evidence that homes with photovoltaic solar panels sell for a premium over homes without solar systems. According to the report, homes with average-sized solar systems sold for a premium of approximately $17,000 over those without solar capabilities, marking an increase in the demand for and value placed on residential solar energy systems.
2. Save money on your electric bill
One of the main reasons many people choose to go solar is to save on their monthly electric bills. Homeowners and businesses often cut their energy bills by anywhere from 50 to 90 percent after switching to solar. In some cases, when solar homes generate more energy than their residents use, the utilities companies can end up owing the owner for the excess power. According to Clean Power Research, the national average suggests homeowners save more than $20,000 over 20 years. In California, however, residents save an average of over $34,000 during the same period.
3. Reduce your carbon footprint
Switching to an average-sized residential solar system (5 kW) can have the same environmental impact over 20 years as planting 2,020 trees, taking 15 cars off the road for a year or recycling 27 tons of waste instead of sending it to a landfill.
For more information on home solar panel installation or to speak with a representative about our solar financing options, contact us at SolarMax Technology today.
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