If you are new to the idea of powering your home using solar energy, you may be interested in finding out what the advantages and disadvantages may be. Solar power is gleaned from the sun’s rays and is converted into direct current (DC) by the solar panels. It is then transformed into alternating current (AC) which can be used by the home as electricity. Understanding the basics of solar power and exploring the advantages can help you decide whether this option is a fit for you.
Solar Power Can Save You Money on Your Electric Bill
One of the main advantages of implementing solar power is that you can see a significant savings on your energy bill each year. In a 20 year time period, a homeowner can see as much as $20,000 in savings. This savings comes from replacing a portion of your electric usage with solar power. Once solar panels are placed on the roof, they begin absorbing energy from the sun which is free and renewable. This provides you with an unlimited energy source that can power your entire home.
Solar Power Can Earn You Money
In addition to saving a large amount on your energy bill, solar power can also earn you money. When you have excess solar power, the meter credits this back to you. If your meter is far enough ahead of your electric usage, you can expect to even earn money instead of owing it. In addition with Federal tax credits for solar usage still in place, homeowners can expect to see a return on their investment come tax time.
Solar Panels Increase Home’s Value
Another major advantage of using solar power in the home is that they immediately increase your home’s value. If you install solar panels today and sell in a few years, your home could sell for $15,000 more in addition to any other remodeling you complete on the home. As an investment in your family’s future, solar powered homes offer an incredible amount of value.
No Upfront Costs Possible
Due to flexible financing by solar companies, property owners will find that they often don’t even need to pay any out of pocket costs. Whether the money is obtained from refinancing or the homeowner completes a lease to own program, there are several ways to have solar panels without paying thousands of dollars with the installment.
By considering the many benefits to installing solar panels and using solar energy, it is possible to decide whether or not solar energy can work for your home or business.