Benefits of Solar Energy
Whether your motivations for going solar are economic, environmental, or personal, solar has something for everyone.
Eliminate or Significantly Reduce Your Utility Bill
Whether you’re a homeowner or business electricity costs can represent a large percentage of your monthly expenses. Recent data from the US Energy Information Administration shows that end user energy cost have increase over 3% from 2015-2016 alone . While every home and business is different solar presents an excellent solution given system life-cycles can last over 25 years.
The Green Investment & Resale Value
In many ways a solar system can be seen as a financial product, capable of producing returns for homeowners in the long run. While many variables determine the possible returns, clients often see pay back time frames of 10-20 years. With modern system cycles lasting longer than 25 years there is a case to be made that solar is one of the most stable investment instruments.
In a recent report, The Appraisal Journal states that every dollar you save on energy adds twenty dollars to the value of your property. And a study from the National Renewable Energy Laboratory found that solar homes sold 20% faster and for 17% more. Lawrence Berkeley National Laboratory, a research laboratory affiliated with the Department of Energy, continues to expand on home value research as solar grows across the U.S.
Environmentally Clean Energy
Modern panels have roughly an energy payback period of roughly 4 years, meaning it takes this long for the clean energy produced from you panels to offset the dirty energy used to create them. After in which you panels will provide numerous years of carbon free energy.
Also keep in mind an average family generates several tons of waste every year, including sulfur dioxide, nitrogen oxide, and carbon dioxide. A simple 5 kW residential solar grid on your home can save as much as 11 barrels of oil, 4 acres of forest, and 5 tons of greenhouse gases like CO2 annually.
Government Incentives and Rebates
Both federal and state based programs give attractive payoffs to those who choose to invest in solar. Federal funding will help you reduce the initial cost by up to 30% of the capital costs to get your project off the ground. This is complemented by a host of other rebates, tax credits and other incentives at different levels from the federal, state to the local.
Local Economic Driver
The solar energy industry is a national industry that provides high-quality jobs across the United States.
Findings from The Solar Foundation's 2015 Solar Jobs Census underscore that growth:
- Since 2010, solar industry employment has grown by 123 percent, reaching nearly 210,000 jobs in 2015.
- Employment is expected to grow by another 15 percent in 2016. 1.2 percent of all new jobs in the U.S. in 2015 were created by the solar industry.
- Nearly 10 percent of solar jobs in the country are held by veterans, a much higher proportion than in the overall economy.
- The solar economy is local. 8 in every 10 solar installers report their customers are located within the state they operate. Over 50% of these installers have 10 or fewer employees.