Reduce or Eliminate Your Electricity Bill
One of the biggest reasons to go solar is that you can eliminate or significantly reduce your electricity bill. Electricity costs can amount to a significant portion of your monthly expenses. Assuming the unlikely scenario that the price of electricity remains constant – an average monthly electricity bill of $110 is an annual expense over $1,300 or $33,000 in a 25 year period. By going solar, you can generate free power for the life of your system (average 25+ years). Due to the higher and increasing cost of utility power, even if you don’t produce all of the energy you consume, solar will greatly reduce your utility bills. With an average payback period of 5 years , savings realized through going solar greatly outweighs the system cost – enjoy 20+ years of free energy production.
Protection Against the Rising Cost of Energy
One of the most clear cut benefits of solar panels is the ability to hedge rising utility prices. According to the Department of Energy, residential electricity prices across the US increased by over 42%, with even greater increases in California. Investing in a solar energy system now protects you against unpredictable increases in electricity costs by replacing your electricity bill with the stable and lower cost of solar. If you’re a business or homeowner with fluctuating cash flow, going solar also helps you better forecast and manage your expenses. Additionally, solar energy provides customers with consistent, dependable, and reliable energy.
Save the Planet
Going Solar is a great way to reduce your carbon footprint. An average residential solar panel system installed by Solaryna will eliminate over 140 metric tons of carbon emissions over the life of the system—the equivalent of planting over 3,500 new trees annually and saving over 110 aces of US forest. The electricity that solar panels produce is completely emissions free. When you use renewable solar energy to meet your energy needs, you reduce the demand for electricity from your utility. As a result, your utility plant emits less carbon when producing the power needed to meet customer demand.
In order to encourage more consumers to go solar, the federal government offers great tax incentives. By having a solar system installed, you could be eligible for a 30% tax credit. These tax incentives are likely to be reduced, so take advantage of them now.
Increase Your Property Value
Solar panels can more than pay for themselves by providing a high return on investment, but also increase the value of your home or business. Solar energy systems make your home more attractive to home buyers. Studies have shown that homes with solar panel systems are valued and sold at prices above similar homes in their area. In California, studies found that home values increase by four percent or more when homes are equipped with solar panels.