According to the US Energy Information Administration, one out of three households in the US is having difficulty paying electric bills in 2015. This means that a lot of families have faced difficulty sustaining sufficient temperature in their homes in order to minimize the cost.
This is the main reason why people consider switching to alternative sources of electricity, such as solar panels.
What are Solar Panels?
Solar panels or otherwise known as solar photovoltaic systems, are flat boards typically installed on a building’s roof or anywhere exposed to direct sunlight. These panels absorb energy from the sunlight, which they will then convert into electricity.
The panels consist of solar cells that produce DC electricity. This direct current electricity means that electricity moves in a single direction.
The appliances you have in your home run on AC or alternating electricity or back and forth direction. This brings the need for a converter to be able to transform the DC electricity from the sun to AC to be able to run these appliances.
If you have ever tried using a solar-powered calculator, the idea is precisely the same. Even satellites use this technology. The solar cells operate using the matter’s ability to discharge electrons every time the sunlight shines on the solar cell.
Benefits of Solar Energy System
In the hopes of addressing this problem, there has been an increasing demand for solar power. A lot had switched to the use of solar panels to supply their energy needs with the help of companies like 93Energy.
But what exactly are the benefits of a solar energy system in residential buildings? Consider the following:
1. Reduction in Electricity Bills
Since the solar energy system will produce energy that your home needs, this will take most of the burden from your electric source, which is the utility company. This will drastically reduce the cost of your power consumption.
One of the lingering questions people have when it comes to solar power is what happens during cloudy and rainy days. There’s really nothing to worry about power interruption as your house is still connected to the regular power source, so you can still receive electricity from the utility company’s grid whenever the need arises.
2. Protection of the Environment
If you are one of the not so many people who care about the environment, you will be glad to know that switching to solar power reduces your carbon footprint. This is also one of the pillars of most companies’ corporate social responsibility.
Solar power can positively affect the environment indirectly by acting as a substitute for the common sources of power that produce large amounts of carbon dioxide. Also, solar power does not produce any pollution.
3. Earn Credits for Excess Energy
When managing and monitoring your power consumption, you might notice that your solar power system may produce energy that is more than sufficient for your household needs. Because of this, you could obtain credits for this excess energy that you could send back to the grid.
4. Great Investment
This may be a costly project at first, but you should consider this as an investment rather than an outright expense. As solar panels differ, you will need a contractor like Illinois Solar, if you’re from the area, to tell you the kind that is suitable for your home. Otherwise, you may end up spending more than what is necessary.
The average savings from the solar panel for 20 years per state range from $10,552 to $12,905, the federal tax credit already considered. The typical warranty for solar panels is 25 to 30 years, so you can expect them to last more than that.
5. Increase the Market Value of Your House
Much like when you make home improvements, such as adding a bathroom or remodeling a kitchen, having a solar energy system increases your property’s value significantly. Besides the effect of the actual value of the panels, the mere fact that the property has them increases the potential buyers’ interest in buying the house. And you know how demand affects the price, right?
6. Capitalize on the Tax Incentive
The Federal Tax Credit or the Investment Tax Credit allows anyone to deduct 26% of the cost from your Federal tax due when you install solar panels at home or commercial establishments. What’s good is that the law does not have any limit when it comes to the amount.
So regardless of the cost of the solar energy system, consider just a little under three-quarters of the total amount to be the actual cost of your investment. That’s a lot of savings.
It is but natural to want to save on costs of everything whenever you can. With the rising cost of energy in the last few years, the struggle to keep up with the utility expenses is very real.
Solar energy system seems to be the most viable answer without having to sacrifice comfort like when you do cost cutting on electricity. However, many are having doubts if it is worth the cost and the hype. But once you see how much savings you will actually have month after month, you’ll realize that it must be the best decision you have ever made.