Solar energy is one of the fastest growing sources of renewable energy in the world today. With the increasing concern over climate change and the need to reduce carbon emissions, more and more homeowners and businesses are making the switch to solar power.
Homeowners switch to solar energy for a variety of reasons, but the two most popular ones are to save money and protect the environment. In this article, we will discuss more about the benefits of going solar.
Lower Energy Bills
One of the most significant benefits of going solar is the ability to lower energy bills. Solar panels can generate electricity from the sun, reducing the need for traditional energy sources like coal, oil, and natural gas. This reduction in energy usage can result in lower energy bills for homeowners and businesses. And you may want to agree to the fact that energy bills have soared high in the United States in recent times.
In 2021, prices registered a year-over-year growth of 4.3%. Residential prices are projected to rise further, growing by 2.5% in 2023.
On the other hand, solar prices have dropped by 60% in the last decade while global solar deployment has increased by over 400%.
This huge growth rate along the entire global solar supply chain has dramatically reduced prices. You can get a quick free estimate on how much you can save with solar.
Increased Home Value
Going solar can also increase the value of your home. In addition to lower energy bills, solar panels can make a home more attractive to potential buyers. Many homebuyers today are looking for homes that are energy efficient and environmentally friendly, and solar panels can help meet these requirements. As a result, homes with solar panels often sell faster and for higher prices than those without.
Buyers across the nation are willing to pay on average extra tens of thousands of dollars for homes with solar, and that’s just to start.
This is a typical method that solar-powered homes have been valued, according to the Appraisal Journal, but it is not guaranteed due to the buyer's potential impression. Obviously, some people will value solar energy more than others.
Reduced Carbon Footprint
One of the biggest benefits of going solar is the ability to reduce your carbon footprint. Solar energy is a clean, renewable energy source that does not produce carbon emissions or other harmful pollutants. By reducing your energy usage, you can help reduce your carbon footprint and do your part to help protect the environment.
In recent years, IntegrateSun deployed enough solar systems to curtail the carbon emissions of 903 billion pounds of burned coal, one of the worst sources of nonrenewable energy, and the greenhouse gas emissions of almost 2.1 billion miles of driving an average passenger vehicle.
One solar panel creates about 50g of CO2 per kilowatt-hour, while coal creates 975g of CO2 per kilowatt-hour, making solar about twenty times more eco-friendly than coal.
Improved Energy Independence
Despite some debate regarding the country's energy independence, switching to solar power will surely get the country closer to absolute independence. Going renewable, especially with solar energy, is a cool way to keep moving away from our dependence on foreign countries for our resource needs.
Sunlight-based energy production means that less energy needs to be imported and that more energy is being produced domestically in the United States. In addition, sunlight is free, and since we don't have to worry about import taxes and other costs, everyone ends up paying less overall.
This can be especially important for homeowners and businesses located in remote areas or areas with unreliable energy grids.
Federal Tax Credits
In addition to the financial benefits of going solar, there are also a number of federal tax credits available for homeowners and businesses who make the switch to solar power. The Investment Tax Credit (ITC), also referred to as the Solar Tax Credit, is a federal tax credit of 30% available to owners of residential or commercial property who have installed solar energy systems (under Section 25D of the tax code).
These tax credits can help offset the cost of installing solar panels and make going solar more affordable. Every state has their own regulations though, so make sure to do some research on the benefits that going solar can get you on state taxes.
A Growing Industry
Finally, going solar is a great investment in a growing industry. The solar industry is growing rapidly and is expected to continue to grow in the coming years. By investing in solar panels, you can not only lower your energy bills and reduce your carbon footprint, but also be a part of a growing and innovative industry.
With the increasing concern over climate change and the need to reduce carbon emissions, it's clear that solar energy is the future of energy. If you're ready to make the switch to solar power, contact IntegrateSun today to learn more about your options and start enjoying the benefits of going solar.