From the food we eat to the clothes we wear, it’s important to weave sustainability into the tapestry of our lives, doing our part to create a healthier planet.
As a homeowner, one of the more impactful steps you could take is converting to solar power. Positioned as a bright beacon of hope, this energy source is a reliable and increasingly affordable option that comes with a myriad of benefits for both you and the environment.
Environmental impact
Solar energy is derived from sunlight, meaning it’s an endlessly renewable energy source you can harness to power your home no matter where you live. In doing so, you can significantly reduce your carbon footprint—after all, solar power doesn’t rely on fossil fuels and doesn’t emit greenhouse gases. Conversely, electric power is one of the biggest culprits of the latter, so much so that if enough homeowners made the switch to solar energy, we could reduce our overall carbon footprint by about 50 percent.
Cost savings
According to the Solar Energy Industries Association, the average up-front expense for a residential solar system is $25,000, though the actual number can depend on a variety of factors, such as the cost of materials and labor, how much energy your home requires, and the size of the system installed. Luckily, you don’t have to pay out of pocket—many companies offer financing and leasing options, making converting your home to solar feasible. Further, the amount you’ll save each month on your utility bill can make up for the cost in the long run. Per SaveOnEnergy, the average US household spends $138.90 a month on electricity, which means that if your system is big enough or generates enough energy to replace all your usage, you could potentially save almost $1,700 a year.
In addition, going solar makes you eligible for certain tax breaks and incentives. To start, the federal residential clean energy credit is a credit that allows homeowners who install solar panels before 2032 to receive 30 percent of the installation costs as a tax credit for the year they were added. So for a system that costs $25,000, you would get a $7,500 credit. Some states even offer solar renewable energy certificates that enable you to earn income from your home’s energy production, further offsetting the costs of the system.
Another perk is that any excess power from your home’s panels is delivered back to the electric grid, which your power company may then give you a credit for. Plus, solar panels have low maintenance costs since there are no moving parts that wear down over time. Instead, you just need to clean and inspect them annually and trim back any trees that could block the sun from reaching them.
Increased home value
Residential solar panels are becoming increasingly popular, meaning more people are looking for homes with them preinstalled. According to a 2023 report from Zillow, 64 percent of buyers consider energy efficiency to be a very or extremely important aspect of their next home. On top of that, solar-powered homes sell for 4.1 percent more on average, though the exact number does depend on the market. Being that they’re a valuable and attractive feature, it undoubtedly pays off to convert your home to solar.
As you contemplate the benefits of solar power, consider reaching out to a reputable company with any questions you may have. It can help you better understand the costs versus savings as well as how the option betters the environment, allowing you to determine the best decision for you.
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