Solar is becoming a more popular option every single year in the United States, with estimates of quadruple the number of solar homes in the next decade alone. Solar is an attractive power option for businesses and private homeowners alike.
Have you considered the financial benefits of using solar as a renewable energy source? Here are some ways that going green with sustainable energy can help you put more money in your pocket.
Tax Credits and Deductions
Since the government has a vested interest in green energy, there are many financial incentives available for installing solar. For example, the federal government has a goal to drastically reduce solar installation costs in the coming years.
You can get a federal solar energy credit on your tax return, which will lower your tax bill. In addition, you may be eligible for a tax credit or deduction depending on your state.
Increased Home Value
If you want to sell your home in the near future, you may be thinking, why go solar? Installing solar panels can increase your property value, so you can sell your home for a higher price tag.
When you show your house to potential buyers, you can explain the money-saving benefits of going green with solar, as well as the tax breaks from sustainable living. Your home will stand out from others on the market and may sell faster as a result.
Less Money on Your Electric Bill
One of the most attractive features of going solar is the lower electricity rates. Some homeowners pay no electric bill because their solar panels cover all of the electricity that they use in their homes. If you live somewhere sunny, then you may be able to go completely off the grid.
You can remain connected to the electric grid with a solar panel system if you need electricity in case of an emergency. However, your primary energy source will be your solar panels.
Save Your Excess Energy
You do not have to let your excess solar energy go to waste if you use it all on your home’s electric needs. Another way to save money, in the long run, is by purchasing energy storage batteries.
For sustainable living, you can use the solar energy stored in the batteries during cloudy or rainy days. This way, you can still save money, and you will not have to rely on the electric grid for your energy source.
So Many Financial Benefits of Solar
If you want to get solar, you should not have to worry about paying more than you currently do for electricity. With these financial benefits, you can rest assured that your investment will start to pay off quickly.
Would you like to learn about more ways that you can improve your financial situation? Take a look around our site for more tips, tricks, and money-saving hacks that will benefit you.