What are the financial benefits of solar energy?

Financial Benefits of Solar

Aside from helping the environment, there are also financial benefits to installing solar panels on your home or business. Let’s go over those benefits.

Saving on Electrical Utility Bill

When you install a solar energy system on your property, you save money on your electricity bills and protect yourself against the frequent rising electricity rates in the future.

How much you can save depends on the utility rates and solar policies in your area, but going solar is a smart investment regardless of where you live.

You can’t control how much the power company is going to charge you for each unit or kilowatt of power. They can increase those rates, meaning you have to pay more.

For those us of us who live in “Sunny” South Florida, the efficiency of the solar panels are even higher that other ares in the country; therefore the benefits are even better.

Property Value

financial benefits of solar energy property value

Another financial benefit to solar energy is the value it adds to value of your property.

When you install Solar Panels on your property, the value automatically goes up due to the investment on the asset.

Over time you are using the money you are saving on electricity to pay for that asset, therefor increasing the amount of equity.

  • If you update your bathroom or kitchen does you property value increase? Normally yes
  • If you add an extra room to your property, does the value increase? Normally yes.

When you add a solar array unit to your property, you are lowering or eliminating the monthly expense of electricity. This factor alone increases property value.

What about the roof?

What causes damage to your roof? Normally it’s the elements, then sun. The heat from the sun can and in most cases causes damage to most roofing systems by drying them out and eventually cracking. When you install a roof based solar panel system they are the ones absorbing the sun’s rays, giving your roof some shade. Which by the way, helps reduce the amount of electricity used by your AC unit to cool your property.

When you go to the beach and sit under an umbrella are you protected from the sun’s damaged to your skin? (I know many people want a tan…) But it’s almost the same idea, you protect your roofing system from the damaged caused by the sun.

If installed correctly and by a certified contractor, your solar array system can help protect your roof, and help it last longer and is another financial benefit to solar energy.

Aside from the financial benefits of solar energy, there are also environmental benefits – solar energy is a renewable and plentiful energy source. Using renewable energy source helps the plant and our children and grandchildren inherit a better plant.

If you have any questions or comments on the benefits of Solar Energy, please comment below.

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