A game-changing product can only be held back till its performance does the talking. Yes, we are talking about solar energy. In the last decade alone, solar has experienced an average annual growth rate of 42%. In 2020 itself, 43% of all new electric capacity added to the grid came from solar.
Are solar panels worth it for your home?
Deciding to add solar panels to your home is a major financial decision. Keep in mind that they are a worthwhile investment since they have the ability to lower your energy bill for a very long period. Also, whatever the installation and system cost in the future, your savings from your solar PV system will only grow. Ultimately, the answer is a big Yes!
Further savings of reduced electricity bills is not the only benefit you get from solar. There are many other benefits you secure from going solar and one of them is increased property value. Solar panels also have the ability to impact the property value. This important benefit makes going solar more appealing among residential customers.
How can solar add value to your home’s resale value?
When you are buying or selling a property, the value of that property is a big deal. Increasing the value of your home makes a lot of sense, but what is the best way to do this? Construction of a pool or some upscale renovation work. But not all upgrades or changes increase the value enough to cover the cost of having it done. What about adding Solar PV to your home?
Below are some of the many other advantages of adding solar to your home:
Early studies showed a willingness to pay an extra 4% for a property with solar as compared to a similar property without solar. Similar homes with solar are sold with a 5.4% premium in New York City.
A similar study conducted in California showed that homes with solar panels are also sold faster as compared to homes without solar.
Who wouldnt like a lesser electricity bill?
Everyone needs electricity and if the cost of using electricity can be reduced by installing solar panels, people will certainly view your home favorably when its up for sale. Utility bills are significantly less when homeowners can take advantage of net metering through their electricity company.
These days, more and more people are concerned about climate change. They want to reduce their reliance on fossil fuels and solar energy is increasingly popular for reducing dependence on coal, fossil fuels, and other carbon-emitting energy sources.
Rising Electricity Cost
Since the price of electricity is expected to rise in the future, the advantages of having home solar power will become even more evident.
Popularity of EVs
What if a person, who is looking for a home owns an electric vehicle? or you yourself own an electric vehicle. Don’t you think there should be Solar PV on roof to charge your EV in your garage? Charging your EV on the grid may add more weight to your electricity bill.
Solar+ Storage: Best Combination
For the last few years, heatwaves are more frequently forcing utilities to shut off their power lines. Solar panels that are equipped with batteries make a home more resilient during these outages. In these times when most of us are working more from home, we might be able to work despite a grid outage. Solar + Storage gives you additional security against these unforeseen events and peace of mind.
In respect to solar, it is appropriately said that the more you investigate the more you convinced that solar can save you money on bills, look sleek, and even boost the resale value.
We at Staten Solar would love to help you to increase the value of your property. Call us with your queries with regard to installing a Solar PV System at your home. Dial 408-780-2889.