Solar panels are a great way to offset energy costs, reduce the environmental impact of your home, and provide a number of other advantages, such as supporting local businesses and contributing to energy independence. Are you interested to install solar panel in your home? Here are the top four advantages that you should know:
Since you will be meeting some of your energy needs with the electricity your solar system has generated, your energy bills will drop. How much you save on your bill will be dependent on the size of the solar system and your electricity or heat usage. Moreover, you do not only save on the electricity bill, but there is also a possibility to receive payments for the surplus energy that you export back to the grid through the Smart Export Guarantee (SEG). If you generate more electricity than you use (considering that your solar panel system is connected to the grid). Even though a sunny day will produce more solar energy, the solar panels will continue to draw energy even when the weather is cloudy. Indirect or scattered sunlight will still help power your home. Cloudy days typically make up about 10 to 20 percent of the power generated on sunny days.
Is solar energy important to the Federal and state governments? Definitely! They have realized that solar environmental benefits are endless and homeowners are rewarded if they have alternate energy homes. In the first year of installation alone, there is a tax break available that is 30 percent of the total cost of equipment and installation. This can be a sizable credit!
When you factor in the various local and state rebates, the initial costs can be paid for by up to 50 percent and more. There is also the benefit of Solar Renewable Energy Credits (SRECs) which are basically selling your overstocked energy to a company that trades in the energy market and is separate from the power company. It can generate a tidy sum to help offset the cost of having solar panels installed. These kinds of credits and incentives can be found almost anywhere you live.
The price of energy heading into the future can be affected positively by the widespread use of solar renewable energy. Solar energy systems can function at a remarkable low cost, possibly even no cost after the initial financial investment is made. This will stabilize energy costs over time. The price and initial investment of solar power energy have dropped and it is expected to continue in this direction. Renewable solar energy systems installation costs dropped more than 70 percent between 2010 and 2017 according to research by the Union of Concerned Scientists. They project the prices will continue to lower as the solar energy market matures.
Ultimately, statistics show that installing energy panel systems in a home creates many economic benefits, not only for the homeowner but even extending into the community and possibly the world, if you take into account the solar environmental benefits. Between lower energy bills, reduced use of fossil fuels, and the value of alternate energy homes, choosing to power home solar is beneficial for all.
The solar power system obtains clean and pure energy from the sun. Installing solar panels in your home helps combat greenhouse gas emissions and reduces our collective dependence on fossil fuels. Traditional electricity comes from fossil fuels such as coal and natural gas. When fossil fuels are burned to generate electricity, they emit harmful gases that are a major cause of air pollution and global climate change. Fossil fuels are not only bad for the environment, they are also a finite resource. Because of this, prices always fluctuate and can increase in a short period of time.
Renewable energy also improves public health. Coal and natural gas factories produce air and water pollution which are harmful to human health. But replacing fossil fuels with renewable energy sources, such as solar power, can reduce premature mortality as well as overall health care costs. Although the production of fossil fuels requires significant water resources and causes water pollution, solar energy requires very little water to operate. So, solar power not only does not pollute water resources, it also does not put a strain on the world's water supply. Solar power also works during the dry season or heatwave. Coal, natural gas, and nuclear power use large amounts of water for cooling. But the solar power system doesn't need water to generate electricity.