Solar Power is Worth More Than the Initial Cost
Going solar is worth the investment now and in the future.
There is an attractive quality to going with solar power since it helps bring down the electric bill. However, you may be thinking that right now electrical rates are low, so is solar power worth the investment?
There are several reasons why investing in solar power is more than worth the initial cost. You will need to do a little research, but there are good reasons why going solar is right for you and your family.
Today, solar panels are a fraction of the cost compared to what they were 40 years ago and the price keeps dropping. This is because advances in technology, use of common materials, and competition in the industry has made solar panels cheaper than ever even though they are far more effective and durable. This means that you can start saving immediately by having a solar panel system installed.
Your electricity bill often spikes in the summer months due to using your air conditioner. Plus, your electric company may raise the rates unexpectedly which will be offset in large part by the savings you enjoy from the solar panels.
Arguably the best reason why to go solar is that over time you will save a considerable amount of money on your electric bills. The moment you have the solar panels installed and running, you start saving money right off the bat. You will need to have the panels installed in the best location, consider the average weather patterns over the year, and abide by local and state policies, but you will be saving money today, tomorrow, and most importantly in the long run after your initial payment for installation has been fully covered by the savings generated by going solar.
Most home additions such as building a new deck or adding a room have little to no impact on the overall value of your home. This is because most home additions may be valuable to you, but potential buyers may not see it your way. However, solar panels are one of the few home additions that does add value because it lowers the cost of electricity bills. This means that you may sell your home for a higher price thanks to their presence.
Another factor is that interest rates in the US are the lowest they have been in decades, but they are going up. The higher the interest rates rise, the more you will pay for installing a solar panel system to your home. When you consider that going solar costs an average of $10,000 up to $30,000 after the savings from the federal tax credit, locking in the low interest rates will save you hundreds, if not thousands of dollars over the next decade.
Going solar is not only smart in terms of protecting the environment, but also in lowering the monthly cost of staying in your home. So, check out what going solar can do for your pocketbook today!
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