As we all are aware of, there are a number of factors that are converging that are making Solar Energy an increasingly viable and cost effective alternative energy source for homeowners. Below you find some of the major reasons and advantages why you may want to consider installing a solar power system in your home today.
Juicy Tax Incentives: The federal tax credit currently being offered to homeowners is 30% of the total cost for a solar electric or solar hot water system installed. Depending on where you live, keep in mind that you also may be eligible for additional state and local tax rebate programs which when combined with the federal tax incentive can dramatically reduce the cost (by up to 50% or more in some cases) and payback period of your solar power investment.
More Affordable: One of the biggest negatives associated with residential solar power systems “back in the day” was that they were very expensive to install for the average homeowner. Today, beside the fact that more aggressive tax and rebate incentives being offered there are a number of other factors that make installing a solar power system less expensive these days. Increased competition and recent technological advances in manufacturing has helped to reduce the overall cost of producing photovoltaic solar panels which has been passed along to the residential consumer. Plus warranties being offered today on most solar panels systems are longer than ever guaranteeing a more productive lifespan for your system.
Save Money: There are a number of a factors involved regarding how quickly your residential solar system will pay for itself including your specific energy needs, local climate, etc. Ultimately however, today’s more efficient solar electric systems should help dramatically reduce or eliminate your monthly energy bill from anywhere to 50 to 80%. And in some cases if your state has a net metering program you may even be able to sell your excess or unneeded power back to your local utility company.
Increase Home Value: Like any home improvement, installing a residential solar power system is a proven a way to increase the value of your home in the marketplace. Although in most cases it’s not practical to take them with you if you move, solar panel systems have no moving parts and can last for 30 to 40 years. According to some reports, a solar electric system can potentially increase a home’s value by approximately $20,000 for each $1,000 in annual reduced electrical costs.
Environment Friendly: Solar energy is a renewable, efficient, and non-polluting energy source. Homeowners’ who install a solar power system can have the personal satisfaction of knowing they are helping reduce the emission of green house gases which most scientists agree have a direct relation to global warming.
Conclusion: Whether you are considering installing a roof top solar electric system or just a solar hot water heating system, the bottom line is there has never been a better time for homeowners to consider moving forward with installing a solar power system.