The USGBC’s Taryn Holowka discusses the advantages of solar panels.
In the Northeast, We’ve been getting warmer to the beginning of spring, following the surprise storm of March, Stella. It’s going to be summer in a flash, and due to the increasing temperatures, we’ll see rising energy costs.
Solar panels are an excellent method to lower your energy bills, minimize the impact on your home’s environment, and provide additional benefits, including aiding local businesses and helping to achieve energy independence.
Do you want to install solar panels on your property? There are solar panels in my home, and I’d like to discuss the top four benefits I see them
Reduce or eliminate your energy bills.
This one is truly incredible. We’re within Washington, D.C., where there is a decent amount of sunshine; however, it’s enough to power our home with three kids and two adults with a net energy cost of zero. On warm, dry days in spring, we produce an enormous amount of energy that we use, and we exchange that point with the power grid. On hot summer days, when we use air cooling or when it is cloudy, we draw electricity from the grid.
Even if your home is cloudy, these areas typically get more fabulous than 2 hours of sunshine daily. Meanwhile, sunny places can enjoy an average of 5.5 hours of sun daily.
While sunny days can generate more solar power, solar panels continue to draw energy when it is cloudy. Direct or diffused sunlight can still cause power for your home. Overcast days produce 10-20 percent of the energy generated during sunny days.
Get tax rebates and credits.
I was surprised to find out how huge of a profit this would bring, and yet our solar panels are paying us. For starters, you’ll receive 30 percent of the cost of the system from the installation and equipment as a federal tax credit for income if you pay your tax returns. That means you could save $7,500 when you purchase a solar system valued at $25,000.
Add this to rebates from local and state governments and Solar Renewable Energy Credits (SRECs) to reduce the overall cost by half. SRECs can be obtained by generating them. SRECs are produced throughout the year and can be sold to utility companies. This yields a significant ROI on your initial investment.
The D.C. Mayor, Muriel Bowser, ratified the Renewable Portfolio Standard Expansion Act 2016 in the summer of 2016. The Act, B21-0560, increases the solar and renewable portfolios by 5 and 50 percent in 2032. The bill also introduces a program inside the Department of Energy and the Environment to aid homeowners with lower incomes in installing solar systems.
The concept behind the legislation is to stimulate the continual expansion in D.C.’s solar sector, which has risen by 170 percent in the past year.
The investment comes with an amortization period of 3.5 years. The solar panels come with a guarantee of 10 years and a useful lifespan of 25 years. That implies you can generate free electricity and credits for 20 years or more. It isn’t easy to beat. It’s also socially responsible and economically lucrative.
Many installers also provide free installation. They take all the payment for the building and panels and charge electricity at a discounted rate. The idea is “leasing” your roof space and offering a reduction in electricity. This is an excellent alternative for homeowners who wish to avoid making the initial investment or prefer an option with no down payment. The installer will collect all profits from the SRECs in this scenario.
Wherever you are, there is a good chance you can avail an array of incredible credits on taxes that are solar-powered. Utilize them while you can.
Begin saving as early as day one.
The energy cost for a year could be as high as the hundreds of thousands. The median annual energy price per household is $3,052, including residential and transportation energy. Solar power can reduce or eliminate these expenses once they’re installed. They also can provide long-term savings as it’s free to use solar energy.
Solar panels can significantly increase the value of your property when sold. The majority of buyers know the significance of a house with solar panels entails, especially since they already have the systems installed and they did not have to spend the initial money and install them. Based on research, most homeowners experience an increase of $5,911 in resale value for each installed Kilowatt. This means that if you install a 3.1 Kilowatt solar system, you can increase the value of your home’s resale by almost $18,000.
Solar panels can also prolong the lifespan of roofs by shielding them from elements like snow, rain, and other debris. They can make a house more efficient regarding energy consumption because the sun’s heat isn’t pounding directly against the roof but is taken up by the panel, which keeps the home’s temperature lower.
Help the planet and us, everyone.
Solar power systems get pure, clean power from sunlight. Installing solar panels on your house can help reduce greenhouse gas emissions as well as reduces our dependence on fossil fuels. Traditional electricity is produced from fossil fuels like natural gas and coal. If fossil fuels are used to generate electricity, they release harmful gases, the main reason for air pollution and global warming. Not just are fossil fuels harmful to the environment, but they are also a limited resource. Due to this, the cost fluctuates constantly and could increase over a short time.
Renewable energy can also improve public health. Natural gas and coal power plants create polluting water and air, which is detrimental to human health. However, replacing fossil fuels with renewable energy sources, like solar power, could reduce premature deaths and the overall cost of health care.
Even though fossil fuels require substantial water resources and result in water pollution, solar power requires a small amount of water to function. Therefore solar energy does not pollute water resources, but it is also not putting a strain on the global water supply.
Solar power is also a viable option in a drought or heat wave. Natural gas, coal, and nuclear power utilize massive amounts of water to provide cooling. When there are heat waves or severe droughts, such as those we’ve had in recent times, electricity generation is in danger. Solar power systems, however, don’t require water to produce electricity.
Furthermore, solar power also creates jobs in renewable energy. It is no surprise that the U.S. has been leading the world in the field of clean energy. This trend will continue even in the face of budget cuts by the government for EPA and DOE as the most innovative and forward-thinking businesses continue to embrace the evolving nature of energy production and shift towards renewable energy.