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4 Benefits of Solar Panels for Your Home

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Think about how energized you feel when you feel the warm sun kiss your skin during the day. Imagine energizing your entire home in that same way. Solar panels let you do just that! Solar energy development is more than a century old, but has become increasingly popular in recent years as people look for new ways to save money and the planet. If you haven't already made the switch to solar energy, you're missing out on major benefits.

1. Solar Panels Reduce Your Energy Costs

Solar panels for home often reduce your energy bill. If you live in a particularly sunny area, the could even eliminate your energy bill altogether. People who use solar energy typically "trade" it with their electric companies. If your panels create more energy than your home uses in a day, you can "trade" it to the utility company. Then, when there are cloudy days, or if you consume more energy to run a heater or air conditioner, you can use the credits to draw from the grid. You don't even need to live in a sunny area to benefit from solar energy. Even cloudy places receive about two hours of sunlight each day, and indirect sunlight through the clouds also help to power solar panels. Purchasing solar panels can feel costly upfront, but saving as much as hundreds of dollars per year means they pay for themselves quickly.

2. Solar Panels Are Better for the Environment

If the cost savings aren't enticing enough for you, maybe the fact that solar panels are an environmentally friendly alternative to traditional energy is. Because solar energy is renewable, it doesn't deplete Earth's resources. Furthermore, solar panels do not add to the greenhouse gas emissions that plague the planet, meaning they create clean energy. There are other environmental benefits of switching to solar energy as well. Solar energy can help to reduce water scarcity, save billions in health and environmental damage created by air pollution, reduce carbon footprints that lead to climate change, and even reduce pollutants that lead to rising healthcare costs.

3. Solar Panels May Equate to Credits or Rebates

Switching to solar panels could save you even more money in the form of tax credits or rebates. The federal government is providing tax credits for residential and commercial properties in one way or another for the foreseeable future. People who make the switch in 2020 can deduct 26% of the cost of their panels on their taxes. In 2021, new solar panel owners can deduct 22%. Beginning in 2022, those who switch to solar panels can deduct 10%. State and local governments may also offer rebates, so be sure to inquire about the specifics in your area. Keep in mind that you must own your panels to receive these tax benefits. If you opt for a no-cost installation and lease your panels, the company you lease from receives the credit.

4. Solar Panels Add Value to Your Home

Some people don't think solar panels are a good option for them because they plan to move in the future. Relocating solar panels is difficult and expensive, admittedly. However, that doesn't mean you should completely write them off. What some people don't realize is that switching your home to solar energy raises its value. On average, it raises the value by a little more than 4%. That means a home originally worth $250,000 would likely earn you about $260,000 if you included solar panels. Maybe you plan to rent out a property rather than sell it. Solar panels will also allow you to bring in a higher rental income.

 

The hardest part of switching to solar panels for your home is deciding which ones best meet your needs. Evaluate multiple options based on how they were produced, how durable they are, and their overall quality. Choose an installation company that has experience, knowledge, and is professional. Consider asking your local energy company or friends and neighbors who they use. Remember, the types of panels that work for your home depend on how much sunlight it sees throughout the day. For the best results, hire an expert to help you make your decision.

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