Is Solar a Good Investment? A Brief Overview of Solar Benefits
As the concerns for the environment grow, many people are looking for ways to conserve energy and reduce waste.
There are many ways to become more environmentally friendly. But, where would you start? Well, the answer to that question is solar energy.
While you may be wondering “Is solar a good investment,”? This article will help you decide. Here’s a brief overview of the benefits of solar investment.
What Is Solar Energy?
Solar energy is using heat from the sun and transforms it into energy. Like energy from traditional sources such as natural gas, solar energy can be used for cooking, heating, and drying.
What Are the Benefits of Using Solar Energy?
There are several benefits to using solar energy. One of the biggest benefits of solar energy is the savings that you will see over time on your energy bill.
While the average savings vary by city and state, many homeowners that have solar panels reduce their energy costs.
When you have solar panel grids you are able to sell back any unused energy to the electric company.
Solar panels also reduce the emission of greenhouse gases like carbon dioxide (CO2) and other pollutants.
This helps the environment and mitigates the effects of climate change.
Lastly, there is a tax credit for homeowners who install solar panels. Known as the federal residential solar energy credit.
You can claim the credit on your federal income taxes for a certain percentage depending on the installation costs.
Is Solar Energy a Good Investment?
Considering all the benefits of using solar energy it’s clear that it’s a good investment. It can also increase the value of your home.
Solar paneled homes are considered to be an upgrade. Data suggest that buyers are willing to pay more for a home that has them.
On average it can increase the total value of a home by $15000.
Before deciding to make a solar investment, ensure that your home is in a place that gets ample sunlight throughout the year.
You can also decide to start with a small number of panels and add more over time.
Average Cost of Solar Energy Panels
While solar panels are an investment the final cost will come down to a few different factors. The placement of the panels, the size, and your usage needs.
Sunnier locations tend to need fewer panels, compared to areas that don’t see as much sun.
On a national level, the average cost for solar panel installation is anywhere from $15,000 to $21,000.
Many homeowners pay about $18,000 for a 6kW grid system in an area that gets a considerable amount of sun.
The kilowatts (kW) will also add to the final cost. For example, panels with 10kW will have a higher cost.
Researching the specifics of solar panel installation can help you learn more about the cost of putting solar panels on your home.
Do You Think Solar Panels Are Right for Your Home?
As you see solar energy has many benefits. It saves money, it can make you money, and it’s good for the environment.
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