Summer is going to arrive before you realize it. Along with it, you’ll see an increase in your power bills, which is mainly due to the increase in temperature. Installing solar panels is an excellent way to offset energy expenses and decrease your home’s environmental impact. It also delivers a host of other advantages, such as promoting local companies and contributing to energy independence.
If you’re looking to install solar panels in your home, it is best that you first learn what they are and how they work. With that, you’ll discover the main benefits of owning them. With enough knowledge, you’ll say that investing in solar panel installation Livermore is indeed worth it. Here are its benefits:
1. Reduction of energy bills
This one is the most incredible advantage of installing solar panels. It is done in areas where there’s adequate sunlight. With solar panels, it is possible to get net-zero energy consumption. Generally speaking, solar panels are enough to power home of two adults and three children. Solar panels thrive in warm spring and summer days.
Those warm sunny days will generate more solar power for you. Even when the weather is cloudy, solar panels will continue to draw power. Sunlight will still assist to power your home indirectly. Cloudy days generate about 10% to 20% of the electricity produced on sunny days.
2. Gain tax discounts and credits.
Your solar panels can pay you back. To begin with, when you file your taxes, you will get 30% of the total system costs back. You’ll get your money back from equipment and installation as federal tax credits. It implies that you’d save around $7,000 on a $21,000 worth of solar panel installation.
Combine that with local and government rebates plus SREC credits and you’ll see that you’ll cut your power expenses by half. The investment has a payback period is usually 3.5 years. Solar panels, on the other hand, are given a 10-year warranty by manufacturers and they have a useful life of 25 years. That means you’re generating more than 20 years of free energy plus additional credits. That’s quite difficult to beat. Installing solar panels is both cost-effective and socially responsible.
3. Collect savings from the first day of installation.
The annual cost of energy may be in the thousands. The average annual power spending per individual is currently at $3,052 for residential homes. Once the panels are installed, solar power can eliminate or decrease these expenses. They also give long-term savings, as capturing the energy of the sun is basically free.
Solar panels can enhance the resale value of your property considerably. Most home buyers know what a home with solar panels means. That means they can readily use the system and no more investment or installation have to be made. Most homeowners see a rise in the resale value of $5,911 per installed kilowatt installed, according to studies. It implies you can enhance the resale value of your home by approximately $18,000 if you install a 3.1-kilowatt solar panel system.