The prices of solar modules, also known as solar panels, have shrunk by 99% over the last 40 years. It’s not because of low-quality components; it’s actually the opposite. Their prices have gone down because manufacturers now produce better hardware.
All that should be a good enough reason to invest in a home solar installation.
Not good enough for you? If so, be sure to keep reading this guide, as we rounded up the many other reasons that could convince you to go solar.
Contents
1. Reduce or Even Eliminate Electricity Bills
Solar photovoltaic (PV) panels convert sunlight into electricity you can use at home. A collection of PV panels is what you refer to as a solar array or a solar panel system. The more PV panels an array has, the more sunlight it can harvest and turn into usable electricity.
So, if you invest in enough panels, you can convert enough sunlight for your home’s energy needs. In this case, you can eliminate your reliance on your current electricity provider. However, even just a few high-efficiency panels can still lower your electricity bills.
2. Extended Federal Investment Tax Credit (ICT)
The ICT is a dollar-for-dollar tax incentive for energy-efficiency investments. A home solar panel installation is one of the investments qualified for the ICT.
The ICT supposedly would have dropped to 22% this 2021, but Congress made a few extensions.
Residential solar panels installed from 2021 until 2022 can still get a 26% tax credit. Those installed by 2023 can qualify for a 22% tax incentive. After this, only commercial installations will get a 10% credit onward.
3. Availability of Low-Cost Panels
The different types of solar panels include monocrystalline, polycrystalline, and thin film. Of these, thin-film panels cost the least, but they also have the lowest efficiency rating. However, they’re also lightweight, making them ideal for roof-mounting.
There are also solar panels for home generators, which store the energy in batteries. These are usually the solar energy systems used in mobile homes or RVs. These panels are smaller than the standard ones, so they also cost less than the typical panels.
4. Healthier and Safer Energy Source
In the United States, 75% of carbon dioxide (CO2) emissions come from the burning of fossil fuels for energy. CO2 is a chief component of greenhouse gases (GHGs), which, in turn, causes global warming.
Moreover, burning fossil fuels generate harmful combustion gases. These include carbon monoxide (CO), sulfur dioxide (SO2), and nitrogen oxide (NOx).
Solar energy emits CO2, too, but only a tiny fraction of what fossil fuels do. It doesn’t produce combustion gases, either; you don’t need to burn anything to use solar power. Therefore, residential solar energy is cleaner, greener, and healthier than fossil fuel-based electricity.
5. Boost Your Home’s Value
A report found that solar panels can raise a home’s value by 4.1% on average. New York homeowners seem to benefit the most, as previous installations led to a 5.4% increase. What’s more, the study discovered that solar panels didn’t cause any depreciation.
Time To Make That Investment in Home Solar Panels
The possibility of trimming your utility bills should be a good enough reason to go solar. There’s also the potential home value boost of installing home solar panels.
Most importantly, solar energy is clean, green, healthy, and safe. All that makes it incredibly beneficial for the environment, too.
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