The market for solar energy in the U.S. has never been stronger! Solar is currently the world’s fastest-growing energy source. For the first time ever, the growth of solar power has outpaced that of any other fuel source. Solar power is more readily available to households and businesses than ever before. There are many benefits to investing in solar power – here are our Top 10 Solar Power Benefits!
Top 10 Solar Power Benefits
1. Start Saving from Day 1
As soon as our team installs your solar power system, the Federal government will give you back 26% of the total cost of the system! This includes the cost of any strengthening required for your roof. This is more than a quarter of the cost back in tax credits and discounts, and you haven’t even started to save on electricity costs yet!
2. Save Thousands in Energy Costs
By creating your own free electricity with a solar power system, you can save thousands of dollars in energy costs. According to Berkeley Lab News Centre, adding solar panels to a home can save over $100 per month in energy costs. Extended over two decades, this translates to more than $30,000 in savings!
3. Solar Power Incentives
With all of the solar incentives available, your total cost for installing solar can be cut in half! We will work with you to find out what state and local incentives could apply to you, but here are a few.
Not only will you will qualify for 30% of the total system costs back in Federal Tax Credits as soon as your solar power system is installed, you could also qualify for state and local rebates and Solar Renewable Energy Credits.
In Indiana and Kentucky, you will be eligible for net metering benefits upon installing your solar power system. If your system produces more electricity than you can use, the local electricity provider will buy back the excess at the same rate that you buy it from them in the form of energy credits.
Businesses are eligible for commercial tax incentives. These incentives allow businesses that install solar power to depreciate 85% of the cost of the system over six years against tax liabilities.
More good news! In some cases, the USDA will offer a 25% grant towards the whole cost of your system and provide financing for it too!
These incentives don’t even include what you’ll save on electricity costs!
4. Short Payback Period
The payback period for solar power is usually less than ten years, making it a wise investment. If you decide to move at any point, Star Solar Specialists can take the system down and install it on your new house.
5. Increase Your Home Value
Adding a solar power system to your home will increase your home value. Solar panels will increase a home’s attractiveness on the market, similar to homes with low property taxes, homes in good school districts, and homes with good Home Energy Ratings (energy efficiency). The value added to your property by the solar panels will not increase your property taxes! In Indiana, the value added by installing solar is exempt from property tax and in Kentucky the increase only applies when you sell the home.
A study conducted by National Renewable Energy Laboratory (NREL) concluded that homes with solar panels sell 20% faster and for 17% more money. The U.S. Department of Energy’s Lawrence Berkeley National Laboratory found that the sales price of the average home increased $17,000 with solar panels. Learn more about how to Increase Your Home Value with Solar.
6. Financial Security
Solar power provides both residential and commercial owners with financial security. Utility companies are notorious for fluctuating and unreliable electricity prices. The current trend in electric prices is an increase of about 8% per year. We can calculate how much electricity will be generated from your solar power system and at what price for at least the next 25 years!
7. Guaranteed Performance
The solar panel products that we purchase and install for our clients include a 25-year warranty. Industry standards guarantee 80% performance after 25 years. The actual lifespan of solar panels is expected to be much longer, likely to still generate a good amount of electricity 30-40 years after purchasing.
8. Fight Climate Change
We know that the majority of homeowners choose to go solar not only to save money, but also to save the planet!
The United State is second in the world in annual carbon dioxide emissions behind China. You can dramatically low your carbon footprint by replacing utility power with clean electricity from solar panels. The average residential solar system offsets about 100,000 pounds of carbon dioxide in 20 years – the equivalent of driving a car for 100,000 miles!
9. Create Energy Independence
The United States relies on imports for about 40% of the petroleum products and crude oil that we consume. You can help to reduce the nation’s dependence on foreign energy by switching to solar power.
Installing a solar power system on your home or business also gives you a measure of independence from the utility companies. Even though many areas require homes to be tied to the grid, a solar power system can meet most, if not all of your electricity needs.
10. We Make Going Solar Easy
Going solar with us is simple and easy! We can remotely survey your property and provide an initial estimate via email. It will include an estimate of the total installation cost, information on what equipment we recommend for your installation, and how much you could potentially save with a solar power system.
If you decide it is a good investment for you, we can schedule an appointment to carry out a full survey of your property before proceeding. We will work with you to ensure that you get the maximum savings and solar power incentives you qualify for.
Going solar has never been easier. Our dedicated team will be there to help you every step of the way and answer all of your solar questions. Get started with a free estimate below!