It may surprise you to learn that typical homes in the U.S. cost $334,000 as of 2023. For many people, this is a substantial amount of money. The good news is that you have plenty of opportunities to increase the value of your home after you purchase it.
One of the most popular ways to do so is by adding amenities. Going solar is a common practice for those looking to improve their homes, but not everybody understands the benefits it can provide.
Let’s explore what you should know about using solar panels to generate solar energy at your home.
1. Tax Incentives
One of the most important benefits to consider is the tax incentives you get from owning solar panels. This is essential to keep in mind, as installing enough solar panels to power your entire home can be costly.
Depending on the size of your property, it could cost over $10,000 to do so. Government tax incentives allow homeowners to deduct a portion of the money they spent on solar panels from their federal taxes.
Those who live in certain areas can also take advantage of tax rebates. Under many circumstances, this could allow you to save a substantial amount of money.
2. Monthly Savings
The money you save will also extend to your utility bill. Solar power changes your utility billing process to something known as net metering.
This provides owners with credit for the electricity they contribute to the power grid. More specifically, they receive solar credits for excess electricity delivered to the power grid.
This directly reduces your energy bill. Over the lifetime of your solar panel system, this will likely save you more money on your utility bill than you spent to install the system. Keep this in mind when moving forward, as a factor like this is something you can’t ignore.
3. Long-Term Value
Solar panel systems are renowned for their longevity. It’s not uncommon for them to last multiple decades.
In some cases, manufacturers will provide warranties that last over 20 years. You can take this longevity even further by properly maintaining your system. While there can be fairly large upfront costs, consider a solar panel system as an investment into the future of your home.
4. Increased Property Value
As previously mentioned, adding a solar panel system to your home can increase your property value.
These systems serve as very attractive amenities to potential buyers. Not only will you get more money from selling your home, but you will have an easier time finding buyers. In general, someone can increase their home value by approximately $20 for every dollar they save on yearly utility payments.
If you save $800 per year on your electric bill, for example, you can increase your home value by around $16,000. This provides plenty of incentive to install comprehensive systems instead of a single panel.
5. Positive Environment Impact
It’s worth noting that solar panels have a positive impact on the local environment. One of the primary ways it achieves this is by limiting pollution.
This positively affects air quality in the surrounding area. It also reduces your home’s carbon footprint. Those who are environmentally conscious will be pleased to learn that solar panels can substantially reduce your strain on the earth’s atmosphere.
Using a renewable energy resource decreases reliance on fossil fuels, as well. Finally, solar panel systems can help slow global climate change. They achieve this by minimizing greenhouse gas emissions and reducing atmospheric damage.
6. Low Maintenance Requirements
One of the best attributes of the solar panel system is the fact that it has low maintenance requirements.
More often than not, you’ll simply need to clean away dirt and debris to keep the system running optimally. As long as you get in the habit of doing so, you shouldn’t encounter issues.
However, there may be times when you’ll need professional help. Working with a service provider is highly recommended in this situation.
Although it’s possible to handle issues on your own, most people don’t have the tools or experience to do so. Not only do you run the risk of damaging the system, but you could also injure yourself. In some cases, you might even cause an issue that results in your system generating less energy.
Finding a Professional
To get the best results, it’s essential to work with the right professional solar company. Take a look at their past reputation to gain insight into what you can expect from working with them.
See what past clients had to say about their professionalism, timeliness, etc. Look into their rates, as well. This should have no problem offering you a free quote.
It’s in your best interest to shop around multiple providers, so you can make the right choice. Keep in mind that you often get what you pay for. Those who choose the cheapest option will likely get poor results.
However, you also don’t have to choose the most expensive provider. Somewhere in the middle will likely be the ideal option.
Finally, consider how communicative they are. If they aren’t easy to get in touch with, you should continue your search elsewhere.
Consider Going Solar
Under many circumstances, going solar can help you increase the value of your home while saving money on your utility bill. The sooner you get started, the sooner you can begin reaping these benefits.
From here, you can take full advantage of these quality-of-life increases. Our blog has many articles like this one that can help you make better life decisions in the future. Be sure to check them out today!
