Reducing your dependence on conventional electricity now will prevent you from encountering constantly increasing electricity bills. As more and more people move toward a sustainable and eco-friendly lifestyle, solar energy will also continue to grow in popularity and an increased desire for homes already equipped with solar energy.
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Solar energy may increase the value of your home and make it more attractive to buyers. According to the Homebuilder's Guide to Going Solar, solar-powered homes sell twice as fast as homes equipped with conventional electricity and solar-equipped houses by Shea Homes in California appreciated more than 55 percent while conventional counterparts appreciated at 45 percent.
You are also eligible for certain tax incentives when you install solar-powered equipment, such as a solar water heater, in your home. Solar-powered water heaters are among the qualifying products.
Are Solar Panels Worth It?
Check with your local and state government agencies to see if additional incentives might be available in your area. Based in South Florida, Leann Harms has been writing since Her design, technology, business and entertainment articles have appeared in "Design Trade" magazine and Web sites including eHow. Solar panels absorb electromagnetic radiation and convert it into electricity. In addition to that, if you go for a system with a battery storage option, your solar system will also store excess power that can be used during low daylight times.
Going Solar Saves Versus Traditional Energy Costs
A hybrid solar system enables you to maximise your power bill savings as energy generated from your solar panels is used first. Therefore, you only use electricity from the grid when you need it. There are set-up costs for installing a solar system, so households that use a lot of power will benefit more initially, as their savings will more quickly pay off the investment cost. However, solar can be effectively generated and used by any type of household so you can start saving money straight away.
Several factors can impact how much you save with solar.
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Learning more about these will help you understand their influence on your solar energy production and determine how quickly your investment will pay off. Switching to solar will save you money — from the first day you install, and for many years to come. With over 20 years of combined solar experience under our belt, we want every customer to have a great experience when they install solar, backed up with the best quality products.
How to save money with solar: All you need to know Share Tweet. Ask a question Book a consultation. Everyone wants to stop paying so much for power, right? Tracking your spending by hand is tedious.
Throw away your paper budget and sign up for NerdWallet to make managing your money easy. Some tools, like the Solar-Estimate calculator, estimate the system size for you. Some companies lower installation costs through rebates and other programs. Aggarwal recommends getting quotes from three to five contractors.
Does Solar Energy Save Money?
The government offers homeowners significant incentives for installing solar panels as an alternate energy source. Additional credits vary by location. If your state has a high solar ranking, you may receive extra incentives like cash back, property tax exemption, waived fees and expedited permits.
In some states, homeowners with solar panels can sell excess power to their local utility companies. Look up credits available in your state by reviewing the database of state incentives for renewables and efficiency. Incentives may actually go away and it may not actually pay to wait for too long.