A Closer Look At Residential Solar Benefits

Residential solar saves money, boosts the value of a home, and operates in a variety of climates.

FREMONT, CA: Residential solar energy is a popular topic, and for good reason. In recent years, there has been an exponential increase in the amount of solar power connected to the electric grid; around 4 million houses in the United States currently generate their own electricity using solar power. In addition to helping solar homeowners save money and increase the value of their properties, this renewable energy source is increasing the dependability of the electric grid.

Some of the major advantages of residential solar are stated below:

Going solar can result in cost savings: With monthly electricity rates rising, solar power has the potential to significantly lower costs, and it is projected to be a cost-effective option for many years to come. Individuals' electricity savings will vary depending on their usage patterns, solar energy system capability, and system size. A householder can host a solar energy system on their rooftop and purchase back the electricity produced at a discounted rate that is not only frequently lower than what utilities charge customers but also enables long-term electricity rate stability. Alternatively, they can choose to lease a system owned by a third party.

Solar panels are getting cheaper: Since the federal residential solar tax credit was extended, solar energy for homes is now more inexpensive. In their income taxes, taxpayers qualify for a 30 percent tax credit toward the cost of solar systems. However, it is necessary to make sure to install it before the tax credit drops to 26 percent on January 1, 2033.

Additionally, numerous financing alternatives are available to make the process of buying solar systems simpler and require less cash upfront. The monthly cost of a solar loan is typically less than that of a regular energy bill.

Solar energy frequently raises the value of one’s home: The value of a home will increase with a solar energy investment. In a recent survey, it was found that solar photovoltaic panels are seen as valuable upgrades, similar to a remodeled kitchen or a finished basement. House buyers across the country are willing to pay more for a property that has an average-sized solar array. Third-party-owned systems have a mainly neutral influence, but they can occasionally provide value, particularly for prepaid leases.

Solar systems operate in various climates: Sunshine is all that solar panels require to produce electricity. There is still enough daylight to power the typical American home, even in the winter when there are fewer hours of it. Due to its longer and colder winters, Alaska may now use solar energy.