Installing a solar power system can reduce your dependence on the national electricity grid. This will make your business less vulnerable to power cuts and outages that can interfere with productivity.
Solar energy systems are not cheap, but they can pay for themselves in a short period of time. This is especially true if you buy them with full payment, which qualifies you for incentives.
Save Money on Your Electric Bills
There are many benefits of solar energy that can save homeowners money on their electric bills. Whether or not you choose to purchase your system outright with one lump sum or to take out a loan or enter into a Power Purchase Agreement (PPA) will affect your savings, but the most significant financial benefits are realized when you pay off your solar system entirely.
Solar panels generate electricity through strong sunlight and are able to offset most, if not all, of your energy costs. They produce direct current (DC) electricity, and an inverter converts it to alternating current (AC) electricity that can be used in your home.
You can save even more on your utility bills by investing in battery storage to reduce or eliminate your use of grid energy during peak hours, when rates are highest. This is especially beneficial for those living in areas that have time of day electricity rates, where higher rates are charged during periods of peak demand.
Increase Your Home’s Value
Solar power systems are one of the most environmentally responsible investments that you can make. They help reduce carbon dioxide emissions and air pollutants that contribute to global warming. In addition, you can also sell the excess energy that your system produces to the grid through net-metering programs.
Studies have shown that prospective home buyers are willing to pay a premium for homes that are powered by solar energy. The 2021 Zillow Group Consumer Housing Trends Report found that 67% of home buyers rated energy efficiency as a very important feature when considering buying a home.
Installing a solar energy system is a long-term investment that can help you save on your electricity costs, increase the value of your property, and protect yourself from rising utility rates. Many younger generations consider environmental concerns when choosing a home, so they’re more likely to be interested in buying a home that has a solar energy system installed.
Reduce Carbon Dioxide Emissions
When you switch to solar energy, you reduce your reliance on fossil fuels and help reduce carbon dioxide emissions. Fossil fuels produce air pollutants like nitrous oxide and sulphur, which contribute to respiratory issues. Solar power systems are also free from water pollution. The National Renewable Energy Laboratory (NREL) reports that switching to solar power could drastically reduce these pollutants and improve human health.
Each kilowatt hour of electricity produced by a solar power system produces less life-cycle GHG emissions than the average fossil fuel electricity, including natural gas and coal. To put this in perspective, one kilowatt hour of solar power reduces carbon emissions by about the weight of two medium-sized chicken eggs.
Homeowners can maximize the benefits of their solar system by investing in high-quality equipment and taking advantage of federal and state tax incentives. Additionally, a roof that receives full sunlight throughout the day is ideal. This is because energy demand peaks around 11:00-16:00 and early in the evening, while solar panels are at their peak electricity production.
Protect Your Family’s Health
A solar energy system is a great way to teach children about renewables, the environment and carbon emissions. It can also help students develop critical thinking skills and learn about how they can make a difference in their own lives and the community.
Solar panels work all year round, providing power even on cloudy days and in the winter. They need very little maintenance. Keeping them clean is easy by ensuring there are no leaves or debris over the panels and that they are not in shade.
A solar system, especially one with battery storage, can make your home more resilient during natural disasters and power outages. It can provide backup power to key areas like hospitals, schools and fire stations to keep them running.
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