How To Maximize Your Solar Investment

In the last decade (2010-2020), solar has gone from being on the frontier of renewable energy technology to having an expanded presence in residential, agricultural, commercial, academic and municipal applications. Solar is now more accessible than ever before. Due to widespread acceptance, state and federal incentive programs, climate change advocacy and advances in solar technology, these systems have become increasingly cost-effective. As a result, the industry has experienced unprecedented growth and solar owners have been able to take advantage of the continual savings on their electric bill.

Reducing Energy Bills

The monetary savings on your electric bill is the most clear-cut investment benefit of owning a solar array. Electricity bills make up a significant portion of the monthly expenses for a home or business. These utility expenses continue to rise year-over-year, often between 3-5% based on a report submitted by Statista, 2021 (https://www.statista.com/statistics/201714/growth-in-us-residential-electricity-prices-since-2000/). A solar array provides you with a fixed electricity rate for decades and allows you to remain less effected by unpredictable increases in the cost of electricity from your utility. This allows solar owners with a fixed income to have a lower, more predictable monthly electric bill and provides energy cost stability with business cash flow.

Tax Incentives

Financially speaking, federal solar tax credits along with state specific solar incentives and renewable energy rebates make it a perfect time to go solar. Incentives and rebates can greatly reduce the financial cost of owning a solar array and help to maximize your return-on-investment timeframe. Keep in mind, federal and state incentives, along with local renewable energy programs, fluctuate and will not be around indefinitely. Schedule a Free Solar Analysis to learn more about available incentives, construction options and costs for your solar array.

Reduce Your Carbon Footprint

Solar technology relies exclusively on the sun to produce clean, renewable electricity. Going green is a huge benefit of producing your own renewable solar energy. A properly designed and installed solar array will reduce your carbon footprint on day one and help you, or your business, maximize your green initiatives. By reducing your demand to use energy created from fossil fuels you are directly lowering greenhouse gas emissions.

Build Equity in Property

Unlike other investments, owners of a solar array can enjoy an immediate return on their purchase. Solar not only saves you money by lowering your electric costs, it immediately adds value to your property. Having a solar array on your home or business means the next owner of the property can look forward to lower electric bills. Research conducted by the Department of Energy shows home buyers are more willing to pay a premium for properties with solar. Read the full article published by the New York Times here: https://www.nytimes.com/2015/02/22/realestate/solar-panels-and-home-values.html

Minimal Ongoing Costs

A solar array professionally engineered with premium components and optimal energy production often has minimal, or no costs, after the initial investment. Since a solar panel has no moving parts and are designed for durability, manufacture warranties are often 20-25 years. Additionally, extended warranties are available from most manufacturers for a longer duration of time. Developers of other solar equipment such as inverters and optimizers also offer strong warranty durations giving you peace-of-mind for decades. Lastly, for roof-mounted systems, solar can indirectly help extend the life of the roof and shingles by acting as a shield against outdoor elements.

Have questions? Contact us to learn more about maximizing your solar investment.