Why install solar panels on your home? Solar power offers many benefits to homeowners. Many people don't need a reason other than
the eco-friendly benefits, while others are more impressed by the
cost-cutting reasons. Whatever the reason, solar power systems are on the rise in the United States and abroad. Take a look at some of the benefits of having solar panels if you're considering having them installed on your home.
Tax breaks
Depending on where you live and the system you get on your home, you may be eligible for one of many energy efficiency-related tax breaks. For example, Anne Arundel County in Maryland has a solar tax incentive that offers a one-time credit on county property taxes of $2,500 or up to 50 percent of the cost of materials and installation, minus the amount of any applicable state/federal grants and state solar energy tax credits. Learn more about your home state's incentives for solar energy.
You can also gain access to federal tax breaks for solar energy. The federal government's Energy Star program offers tax breaks for solar hot water heaters and photovoltaic systems (a system that generates electricity via sunlight) among other green products. This credit offers 30 percent of the cost with no upper limit and does not expire until Dec. 31, 2016. More credits may be available depending on circumstances, location and your home.
Save money
Installing a home solar system can significantly lower your electric bills. Many homeowners save 50 percent on their electric bills while others are able to completely eliminate their electric bill altogether. Some homeowners even end up making money back. The actual savings will depend on your home's energy needs and your type of solar power system.
As a homeowner, you'll be able to protect yourself against rising energy costs. Fossil fuel supplies are fading which will lead to higher energy costs. Solar power locks in your electrical costs and protects you from escalating utility costs.
Eco-friendly
Your home's carbon footprint will be reduced. The average American household generates 7.4 tons of carbon dioxide per year through electrical use. Installing solar panels on your home will reduce the amount of carbon dioxide from your home causing less environmental issues.
Each hour, enough sunlight hits the earth to power the world for a year. Putting the sun to work will reduce the amount of coal and nuclear energy needed to power your home, helping to preserve the earth's supply of non-renewable resources.
Solar energy produces no air or water pollution and doesn't emit any greenhouse gases or carcinogens into the air.
Home value
Solar systems can increase your home value by 20 times the annual electricity savings. Additionally, homes with solar systems tend to sell faster than homes without.
Other perks
- Solar cells require little maintenance and can last a lifetime. Solar power is silent unlike generators that can be extremely noisy.
- If using an off-grid system, you'll need to generate your own solar electricity and store it in a bank of batteries for use at night-meaning you'll be relying on your own power source and not the power companies.
- If using an on-grid system, you're "plugged in" to the city-wide grid, but if your panels produce extra power it may cause your meter to run backward and the utility will credit the out-flowing electricity against electricity purchased from the grid at other times.