Solar energy is an increasingly popular topic of discussion for residential applications. The growth of solar power integration into the electric grid has been remarkable in recent years, with around 4 million American households already generating their own power using solar energy.
This remarkable clean energy source not only enhances the reliability of the electric grid but also enables solar homeowners to realize significant savings and enhance the value of their properties. In this blog, we’ll be going over some of the many benefits that residential solar panels can bring to homeowners and what makes them such a worthwhile investment.
The affordability of residential solar panels has significantly improved over the years, thanks to advancements in technology and increased market competition. The average cost of solar panels has dropped more than 70% in the past decade. In addition, government incentives, such as the federal solar tax credit, further reduce the cost, making solar energy systems more accessible to the average homeowner. This trend of declining prices is likely to continue, encouraging more households to make the shift to this renewable source of energy. Additionally, there are various financing alternatives available to facilitate the purchase of solar panels, making it more convenient and requiring less upfront investment. It’s also worth noting that the monthly payment on a solar loan is generally lower than the average utility bill amount.
Solar energy provides a tremendous opportunity for significant savings on your monthly utility bill. Considering the upward trends in utility costs, solar remains a reliable and long-term investment to save money. The savings you can achieve depend on your electricity consumption, the size of your solar energy system, and its power generation capacity. Alternatively, you have the option to lease a third-party-owned system that can be installed on your rooftop. This allows homeowners to purchase the electricity generated at a discounted rate, which not only often beats utility charges but also ensures locked-in electricity rates for years to come.
Being able to generate your own solar power provides you with the freedom to maintain electricity in case of a power disruption. With residential solar energy systems combined with battery storage, commonly referred to as solar-plus-storage systems, you can have continuous power regardless of weather conditions or the time of day, without having to depend on backup power from the grid. As battery technology continues to improve and financial incentives for energy storage take effect, it becomes a more logical decision for an increasing number of households across the country to invest in battery storage.
Installing solar panels not only saves on utility bills but also increases the property value of the home. Research shows that homes with solar energy systems sell for more compared to homes without them. These properties also sell faster than non-solar ones. Homebuyers are increasingly recognizing the value of a home with solar power given the long-term savings on energy costs. Consequently, installing solar panels turns out to be a smart financial decision for homeowners.
Contrary to popular belief, solar panels don’t require a hot, sunny climate to function effectively. In fact, solar panels can generate power even on cloudy or snowy days. While direct sunlight does increase efficiency, photovoltaic cells can also absorb indirect sunlight and convert it into electricity. Surprisingly, cooler temperatures can enhance solar panel performance, as high heat may reduce electrical output. Therefore, solar energy is a viable option for diverse climates across the globe.
At Jefferson Electric, we believe in a sustainable energy future and are committed to helping you understand the benefits of residential solar panels. Understanding solar power and its implications for your home can seem daunting, but we’re here to help you every step of the way. Don’t let the opportunity to save money, increase your property value, and contribute to a cleaner environment pass you by. Reach out to us for an estimate today and let’s start your journey towards solar energy. Your planet and your wallet will thank you.