Many people are becoming aware that installing solar is a great energy efficiency upgrade for their homes, and they are eager to contribute towards a cleaner environment, all while improving the value of their property.
The truth of the matter is, the sun is a near-infinite source of energy and a key component of achieving energy independence in most parts of the world. By increasing our capacity to generate electricity from the sun, we can also insulate ourselves from future price fluctuations in energy prices.
But whether your motivations for going solar are economic, environmental, or personal, this list we’ve compiled of solar power benefits will have something incentivizing for everyone!
1. Solar significantly lowers or even eliminates your electricity bills
Whether you’re a homeowner, a business owner, or a non-profit organization, your energy bills probably already make up a big portion of your monthly expenses. One thing is for sure. Electricity prices are rising and the price you pay to your utility for electricity is set to go up over the next couple of years.
By installing a solar power system, you’ll generate free electricity for your system’s entire 25+ year lifecycle. And even if you don’t produce 100% of the energy you consume, your solar power plant will still reduce your utility bills and you’ll still save a lot of money!
2. Solar Increases your property value
Multiple studies have found that homes equipped with solar energy systems have higher property values and sell almost twice as fast than non-solar homes.
Appraisers today are increasingly taking solar installations into consideration as they value homes at the time of a sale. Moreover, as homebuyers become more educated about solar, demand for properties equipped with solar panel systems is set to grow.
3. Solar is becoming affordable
Over the past decade, the price of solar panel systems has dropped by more than 90%. Additionally, incentives and tax breaks can drive the net cost of your solar power system down even further. (Often between 30–50% less).
Add to that the fact that solar panels are very easy to live with. They require little to no maintenance over their entire 25–30 year lifespan! And they can even protect your roof.
4. Solar could help you afford that home improvement you’ve been wanting
Installing a solar panel system in your home offers an opportunity to design other home improvements with this addition in mind. For example, some people consider a swimming pool or hot tub with renewable energy in mind.
According to one report from the National Resource Defense Council, pool owners typically pay $500 more per year in energy bills. By combining the two home improvements, your solar system can be designed to cover the extra energy usage, using one investment to pay for the other.
For example, some people consider a swimming pool or hot tub with renewable energy in mind.
Also, remember the money you’ll be saving on electric bills! It all adds up and can be used, at your discretion, to make whatever home improvements you desire. There aren’t many home improvements that cost less than a solar panel system or are subject to tax credits from the government, and none of them save on monthly costs, instead often costing more.
5. Solar protects the environment
Solar is a great way to reduce your carbon footprint. Buildings are responsible for a significant amount of carbon emissions. Going solar can significantly decrease that number.
For example, a typical residential solar panel system will eliminate three to four tons of carbon emissions each year — the equivalent of planting over 100 trees annually.
6. Going solar demonstrates your business' commitment to sustainability
Sustainability and corporate social responsibility are important components of an organization’s culture and values. They also produce bottom line results.
Increasingly, consumers and communities are recognizing and rewarding businesses that choose to operate responsibly. Businesses are finding that “green” credentials are a powerful driver of consumer purchasing decisions, creating goodwill and improving business results.
7. Go solar, because either way, you won't keep the money!
Whether you’re spending money to make an investment in solar energy, or giving that money to your utility provider, it is still money that is being spent.
Deciding to go solar is very similar to deciding to purchase a home. You can invest in yourself and take control of your energy costs, or continue to pay your utility provider for rented energy monthly, owing them frequent payments and remaining subject to their fees and requirements.
Can't afford solar? Don't worry!
While we are evangelists of energy self sufficiency, we also acknowledge that not everyone can afford to install solar systems on their property. Moreover, not everyone has the property to install the solar systems on.
Our goal, while undertaking the SunContract project was to ensure that no energy customer felt disempowered or excluded. We wanted both our producers and consumers to reap as many benefits as possible from the abundance of renewable energy that we have in the world today and every day.
This is why we present an option for those unable to afford renewable energy systems. They too can receive most of the benefits listed above, by sourcing their renewable energy at competitive prices from our network of local producers on our electricity marketplace.
Interested in becoming a producer or consumer on the platform?