2018 has shown us the inclination of corporate giants like Google, Amazon, and Intel towards solar energy. However, we still have the question of whether or not we should invest in solar panels for our homes. To which we say, why not? Let's have a look at some reasons that might convince you to go solar in 2018:
1- Solar Power Cuts Down your Electricity Bills:
While making an investment, you must know that it involves risks as well as rewards. The main risk involving solar panels is that you may find a better alternative with a greater rate of return.
While talking about the rewards, we all know that electricity costs increase about 3-4% each year. Increase in electricity rates each year means that you get to save money while everyone else is paying more on regular electricity bills. Get solar panels installed once and enjoy the performance warranty of twenty-five years.
2- Solar Panels Make Your Home Valuable:
Installing solar panels is a great way of increasing your home’s value. Home buyers these days want to make a difference by going for climate-friendly homes and allow themselves to have independence in terms of energy.
Let's take an example of an average home. It is estimated that on average, people install solar panel systems at the rate of $3.11 per watt. Considering 7KW per year, if we calculate the amount of savings against the depreciation rate of 4%, your home’s value will increase by $21,000 per year. Isn’t that relieving?
3- Tax Credits for Solar Energy:
One of the main reasons for many to switch to solar energy is the Federal Solar Tax Credit. The ITC (Investment Tax Credit) allows deducting 30% of the cost from your Federal Tax Credits. According to a research, people on average have saved about $5,000 because of ITC in 2017. The good news is that the ITC is here to stay. It was meant to be for 2006-2007 only, but has been extended till 2022. At Least, it will give more room for the solar industry to grow in the coming years.
4- Make Your Climate Better by Going Solar:
last but not the least, another important reason to go solar involves climate change. Let’s try to understand this reason: each solar panel installation reduces the number of carbon emissions that reaches the sky. You can take a step further by buying an electric car and charging it using solar power.
It won’t be wrong to say that you get to save money from day one when you install solar panels in your homes. So go and invest in this opportunity of lifetime savings. Request a quote now!