The price of solar panels has dropped by 80% compared to 10 years ago. Plus, although most homeowners have only a 5-10 year payback period, their solar system could last 25-30 years.
If you’re considering investing in a solar energy system, now is the time. Let’s take a look at the top five reasons to go solar in 2022.
1. Save Money
Solar installation is a great way to reduce or even eliminate your electricity bills. As power from the electrical grid gets more and more expensive, most people’s energy bills will only continue to rise. Going solar provides a sort of insurance policy against this rise.
Once your solar company installs your panels, you’ll have very few ongoing costs. Meanwhile, your panels will generate power that you can use for the next 25 years, helping you save money on your energy bills every month.
2. Increase Home Value
Increased demand for solar panels and the fact that they are a wise investment for your home means installing solar panels could increase your home value.
In fact, a study from Zillow shows that homes with solar panels sold for 4.1% more than their counterparts. The average home could increase its property value by $9,274 by adding solar panels.
3. Energy Independence
In order to store the power that your solar panels generate, your system will include battery storage. This means you don’t have to worry about not being able to generate power if there is particularly bad weather since you’ll have some stored up.
However, it also gives you a backup power option that is separate from the larger power grid. If there were to be a power outage, battery storage will keep your appliances running. You won’t need to worry about problems like losing money when your food goes bad because your refrigerator could not run.
4. Help the Environment
Many commonly used fuels like oil, gas, and coal significantly contribute to pollution and the production of greenhouse gases. Plus, they are nonrenewable sources of energy.
Switching to solar power can help reduce society’s dependence on dirty, nonrenewable energy sources. Since a household uses a large amount of energy each year, you can greatly reduce your carbon footprint by going solar.
5. Financial Incentives Are Available
The initial purchase and installation costs are the biggest when it comes to solar energy. Luckily, there are a number of financial incentives that help cut costs.
In 2022, the federal solar tax credit covers 26% of your solar system’s cost. In 2023, it will decrease to 22% before expiring for residential homes in 2024. If you want to take advantage of this important financial incentive, this is the year.
Plus, if your solar energy system generates more power than your household uses, you can sell your energy back to the grid. Your solar service including Blue Raven can help you calculate the savings your particular set-up can earn.
Go Solar to Save the Environment and Your Money
When you go solar, you’ll reap a number of benefits from saving money to energy independence. Plus, you can directly contribute to saving the environment. With costs that are lower than ever, 2022 is definitely the year to go solar.
If you want to learn even more ways to improve your home, check out the articles in our home category.