By making your own clean, renewable power, every watt-hour your solar system produces is another you won’t have to buy from the utility company. There are many financial benefits of using solar energy.
Save Money Every Month
From the very first month, solar can reduce your utility bills. In fact, a five kW residential system can generate over $40,000 in energy savings over a 20-year period. And by producing your own electricity on site, you can “lock-in” lower electric rates and protect yourself from annual rate-hikes in the future.
Add Resale Value
A solar power system does more than just save you money every month—it also increases the value to your home. According to a study published in The Appraisal Journal, a home’s value is increased by $20 for every $1 reduction in annual energy savings. Homes with solar panels often sell faster than non-solar homes and they sell at a higher price. And unlike most home improvements, solar systems don’t depreciate in value over time.
Save Money for Your Business
With an average return on investment of 14%, solar energy is a smart investment for your business as well as a great financial decision. By offsetting your company’s utility bills, you can decrease operating costs and increase revenue. Government grants and tax incentives make it more cost effective than ever to outfit your offices with solar power.