Top 8 Reasons Why You Should Invest in Solar Power!

Solar system costs differ, depending on the application and location.  Below are some facts to help you reach a decision for consumers:

1. Oversupply — In recent years, an oversupply of solar energy, has estimated to power a total of 2.6 million homes.  This oversupply has caused prices to drop between 60% since 2011.

2. Recession Benefits — Due to the recession, Congress renewed the existing 30% credit toward solar system installations for homeowners, but they also removed the previous $2,000 cap.  This translates to thousands of dollars in savings.

3. Plummeting Prices — California is a great example of this, a 4-kilowatt solar system in the state was initially cost around $30,000.  A couple of years ago, this price was reduced to $21,000 after federal and state incentives.  The exact same system is now valued at the estimated retail price of $10,000 to $12,000.  This is a fraction of its original cost and now with California’s new AB 236 bill being recently passed, the cost of energy will hopefully decrease.

4. Electricity Bills — Many homeowners see their electricity bills significantly drop by at least by 2/3 if not down to zero. Some property-owners are selling their residential solar power back to their utility companies. A solar thermal water heating system usually costs under $5,000, reducing monthly water heating bills to 50%-100%.

5.       Standards and Protections — In case you’re still nervous about your solar system or making a potential investment in a solar project, companies usually offer 25-year warranties for the equipment, minimum production guarantees, and insurance to protect in case of an event such as fires or hurricanes.

6. Now Offering Small Systems — Don’t need to power supply that large? No problem, consumers can now rely on solar panels to pay for their luxury house hold items such as hot tubs or swimming pools. Consumers can now power small appliances such as a computer for use in an RV or while camping, the cost can be less than $1000.

7. Dependable- You can utilize the world’s oldest renewable resource. With the life expectancy of (25-35 years) a solar panel system can be a practical investment not only for businesses but also homeowners.  The average return on investment for residential solar panels 7-10 years.
8. Solar Panels Increase the Value of Your Home- One of the returns on investment for residential solar panels that is often looked over is calculating the increase of the home value. When your house is put on the market, the solar panels makes your house more marketable to sell and is worth more than a similar comparison property.

 The United States EPA reported in the Appraisal Journal that, for every dollar you save in annual utility costs, solar panels increase the value of your home by $20. Simple math calculations show that this can significantly add up. Let's say you save 40% of your monthly electricity bill by going solar - for us that would be about $80 per month. Over 12 months, that is a saving of $960 which results in an impressive and immediate $19,200 boost in home equity. In other words, you instantly regain nearly 100% of the cost of a solar array in home value. A 2011 study by the National Bureau of Economic Research similarly calculates that installing residential solar panel.

Let’s face it, if you have the capability to install solar system whether it be at home, your business, or just for some personal small appliances it could be a practical investment. Something is better than nothing when it comes to the environment. It really make a big difference in not only potentially saving you cash but also helping the environment. If countries like Germany can make great use of this resource, imagine what we can do in the United States, where we have a lot more sun. The sky is the limit!