Investing in solar panels for your home can provide a lifetime of benefits for you and your family. If you’ve been thinking of switching to solar, you may be hesitant as to when the right time to invest is. The sooner you buy solar, the more returns you’ll get from them daily. Panel systems now are getting cheaper and cheaper, so there’s no excuse!
Here are the reasons you should invest in solar today:
Save Thousands of Dollars
Buying solar panels can seem too expensive, considering that the average cost of a solar array is anywhere between $5,000 and $8,000. However, a recent study has shown that those who have bought solar have saved an average of $44 to $187 a month during their first year with solar panels. That means that you could save anywhere from $528 to $2,244 a year. Your renewable energy system could pay for itself within the first five years that you install them. From there, you continue to save money on your monthly utility bills year after year. Some estimates show that the average person who uses solar is more than $20,000 better off over 20 years. In some areas, consumers have saved up to $64,000.
Earn Tax Credit
Even if you are unsure about the effectiveness of solar energy, the Australian government is sure. They actually offer financial incentives and rebates to those properties, both commercial and residential, that decide to switch to renewable energy. While these rewards might not seem like much at the moment, but they’re a nice touch to the extra savings you get monthly from your energy bills.
Invest in Your Home
If you’re looking to sell your home, having solar panels installed can help your chances. A study conducted recently by the Department of Energy has shown that those looking to buy a home are willing to pay more. They’re willing to pay $15,000 more for a house that’s equipped with an average-sized solar array.
Save the Environment
A huge thing that interests people about solar energy is the environmental benefits. The installation of a renewable energy system offsets about 178 tons of carbon dioxide over 30 years. This process is comparable to planting trees that fill 10 football fields. It may not seem like much, but it’s a lot when compared to when you compare it to the energy being generated by coal and oil. Coal and oil contribute to the negative effects associated with climate change. Fossil fuels like these slowly break down Earth’s ozone layers; on the other hand, solar energy utilizes energy that is already present and doesn’t harm the Earth or the ozone layer.
Enjoy Energy Security
Fossil fuels are not renewable resources, utility companies can dissolve, and generators can break. There is no guarantee that these sources of energies are going to be around for a long time. On the other hand, the sun isn’t going anywhere. The sun is also more effective at providing energy – it does it endlessly. The sun provides approximately four million tons of energy every second. Solar panels only use a tiny amount of the energy the sun produces to power your entire home. With renewable energy, you never have to worry about it running out; especially in sunny Australia and southern parts of the USA.
Decrease Your Energy Reliance
Renewable and sustainable energy gives users freedom from energy providers that charge expensive rates. The sun will never charge you more for using its energy. In the past couple of years, there has been an increase in prices for residential electricity. If trends like this continue, it’ll be wiser to invest in solar panels.
The Bottom Line
Not only does renewable energy help you save tons of money, but it gives you a way to positively impact the environment. Start taking advantage of these solar power benefits today. Compare electricity in Victoria to see how much you can save. Add new life to your home and your wallet by switching to renewable energy.