Renewable energy has been making headlines over the last several years, especially solar power, which can be harnessed using a solar panel system. Powering your home with solar panels can also save you a significant amount of money.
Today,6.2 million homes are powered by solar!But is this renewable energy actually worth the cost?
Installation cost of solar panels
The upfront cost of installation sometimes discourages people from investing in solar. Most homwowners in 2017 will pay between usd 2.87 and usd 3.85 per watt to install solar. However,the federal solar tax credit reduces installation cost by 30%.
Factors in best savings results
Your home's location will determine how effective solar panels are in reducing utility costs and creating energy. This includes direct hours of daily sunlight, size and angle of roof, and local electricity rates.
Saving with solar
Without solar, the typical family is spending over usd 1400 a year on electricity alone. With solar, you can save an average of usd 100 a month depending on your state. Over 20 years, you can usually save anywhere from usd7000-usd30000!
No worrying about utility inflation. National electricity costs increase at a rate of 2.2% per year - but if you have solar, you are immune to those rising costs. Make more money selling your home. Homes with solar panels sell 20% faster and for 17% more money.
Save the environment too
67% of electricity in the U.S. is generated by burning fossil fuels. A solar panel system can offset the emissions equivalent to those produced by one car per year.
Solar power can positively impact your wallet and the environment. Take advantage of this natural resource and the bonus tax credit. By installing a solar panel system for your home.
