The dreaded electricity bill; each month, you open it, and frustration immediately creeps in. No matter how much you decrease your electricity usage, you’re still paying a substantial amount for electricity.
However, there is a way to cut costs. You can switch to solar power energy. It’s a renewable energy source that harvests the sun’s UV rays and converts them to usable electricity.
Do you think solar power may be the solution for you? If so, take a look at these advantages of going solar.
- Lower Monthly Electricity Costs
The most obvious benefit of using solar power energy is lowering your monthly costs. According to the Energy Information Administration, the average electricity bill was around $115 per month.
However, depending on your location, costs could be much higher if you have to combat environmental factors. When you switch to solar energy, your monthly expenses are immediately lowered because you no longer pay the electric company.
Each kWh your solar system produces is worth the energy rate you’d pay the utility company. So by creating your energy on-site, you’ll reduce or remove your electricity bill.
Also, if the electricity company decides to increase their rates, that’s no problem. Yours won’t change because your energy is already paid for through the solar system.
- Increase Your Home’s Value
Another benefit of solar energy is the potential to increase your home’s value. When you install solar panels on your property, it provides a more modern look and can appeal to buyers if you’re looking to sell.
New buyers are always looking for energy-efficient homes. By installing solar panels, you’ll show others that you’re serious about electricity savings.
Potential buyers will also be more interested in your property since all solar installations have been completed. To discover more benefits of solar energy, follow the link provided.
- State and Federal Tax Incentives
Installing solar panels can be costly. Depending on the system you get and your home’s size, they can cost between $8,000 – $40,000.
However, don’t let that deter. You can take advantage of federal and state tax incentives when switching to solar energy. For example, in 2021 the federal Solar ITC credit gives you a rebate of 26% of the cost of your solar system.
If your system costs $20,000, you’ll get a credit of $5,200. However, it’s important to note the credit amount will decline to 23% in 2023.
So if you’re going to install solar panels, ensure you act quickly to get more money back from the tax credit.
Switch to Solar Power Energy Today
As you can see, switching to solar power energy comes with numerous benefits. You can lower your monthly electricity costs, increase your home’s value, and get a tax credit towards your solar system. Those are advantages you can’t beat.
Hopefully, you’re considering switching to solar power. But if you’re interested in other forms of sustainable energy, feel free to check out our other blog posts for more information.