Whether you’re a homeowner, business, or nonprofit, electricity costs can make up a large portion of your monthly expenses. With a solar system, you’ll generate virtually free power for your system’s entire 25+ year lifecycle. Even if you don’t produce 100 percent of the energy you consume, solar will reduce your utility bills and you’ll still save a lot of money.
Solar systems aren’t an expense – they’re one of the best ways to invest, with returns rivaling those of more traditional investments like stocks and bonds. Thanks to substantial electricity bill savings, the average American homeowner pays off their solar panel system in seven- eight years and sees a return of investment of 20 percent or more.
One of the most clear cut benefits of solar system is the ability to protect oneself against rising utility prices. In the past ten years, residential electricity prices have gone up by an average of three percent annually. By investing in a solar energy system now, you can fix your electricity rate and protect against unpredictable increases in electricity costs. If you’re a business or homeowner with fluctuating cash flow, going solar also helps you better forecast and manage your expenses.
Multiple studies have found that homes with solar systems have higher property values and sell faster than non-solar homes. Appraisers are increasingly taking solar installations into consideration as they value homes at the time of a sale, and as homebuyers become more educated about solar, demand for properties equipped with solar systems will continue to grow.
Solar is a great way to reduce your carbon footprint. Buildings are responsible for 38 percent of all carbon emissions in the U.S., and going solar can significantly decrease that number. A typical residential solar system will eliminate three to four tons of carbon emissions each year—the equivalent of planting over 100 trees annually!
According to The Solar Foundation, the solar industry added jobs at a rate nearly 12X faster than the overall U.S. economy in 2015, representing 1.2 percent of all jobs in the country. This growth is expected to continue. Because solar-related jobs tend to be higher paying and cannot be outsourced, they are a significant contributor to the U.S. economy. Supporting solar is supporting hard workers!