For many families, their homes are their most valuable asset. Upgrading the square footage or reducing your home’s monthly utility cost can do wonders for your resale value. If you want your home to save you money while it appreciates, consider adding solar panels. These environmentally-friendly energy alternatives can pad your wallet even as they bring down your monthly electric bill. If you’re still on the fence about taking out solar dollars, here are six reasons why panels are an excellent investment.
There are solar incentives aplenty
All over the United States, state governments and utility companies offer solar incentives. California offers energy rebates to homeowners with solar panels, while homeowners get a $0.15 per watt refund in Nevada.
Residents of Colorado receive flat rebates between $400 and $3,00 for installing solar panels. In Idaho, residents get income tax deductions up to 40% of the installation costs and a deduction equal to 20% of the value for three years. New Mexico homeowners with new solar panels earn tax credits worth $6.50 per square foot.
Many of the incentives help pay for installation and energy expenses, increasing the ROI of this future-forward tech.
Adding sustainability to your home
When you install solar panels, you make your home sustainable. Everyone needs to take small steps to help reduce the effects of climate change. By installing solar panels, you reduce your reliance on fossil fuels and nuclear power. Solar panels are sustainable and create clean energy without any emissions.
You can have energy even when the power goes out
When the power grid goes out because of extreme weather, you can still have energy from your solar panels. The solar panels use the sun’s energy to create power which your converter system saves to use as the sun goes down. Solar panels do not rely on the power grid, so you can always have power even if your neighbors are in the dark.
Solar panels increase home value
If you decide to sell your home, you’ll quickly see how home buyers value solar panels. The value of your home increases, and buyers will want to make offers to have a home that runs on solar energy.
Helping your local economy
When you have solar panels installed, you can invest in your local community. By taking steps that fuel the planet while also patronizing a solar panel business, you’re giving back to your area. While you might not think you can make a difference, your solar panels will inspire other people in your community to install them.
As more people install solar panels, the local economy will see the benefits of companies creating jobs and helping people save money on utility bills.
Reduced utility costs
In some communities, homeowners must remain connected to utility companies even after installing solar panels.
When you have solar panels, you’ll see your utility bills drop dramatically. You might even get to enjoy net metering, where you build energy credits rather than expenses. Saving money on utility bills means you can spend that money elsewhere or save it for more investments.
Solar panels are a solid investment in the value of your home and in the future of the planet. You can become energy independent while reducing your home’s carbon footprint. You can’t go wrong with a green solution that pads your home’s pockets.