Going solar means a lot and most of the homeowners do so for various reasons. The two most important reasons include cutting down energy costs and improving the environment. Also, many people are fully aware that solar panels play a significant role in upgrading homes thus improving their property value.
Whether your urge to go solar is economic, personal or environmental, you need to know the great benefits that come with the solar power. Here are the ten most important reasons to have your home installed with solar panels especially in New York.
1. Reduction in the monthly energy bills
Energy bills constitute a sizeable percentage of your monthly expenses. But installing solar panels in your home will help you generate free power that will serve you for well over 30 years. It does not matter how much power your panel will generate, provided that it will help you save a lot of cash on electricity bills.
2. You will earn a great return on your solar power investment
Solar panels are not liabilities but important assets for you. In fact, this is one of the best investments you can have in your home to help you earn some great returns. These returns are likely to rival the traditional bonds and stocks within the shortest time possible. The average return on investment can be in the 15-25% per year!
3. Protects the consumer against the rising energy costs
Solar panels have come a long way to hedge utility bills. In the past decade alone, electricity prices in homes had gone higher by three percent every year. Therefore, when you invest in solar energy now, it will help you in fixing your electricity rate while protecting you against the unpredictable electricity price increase. This means you can save a lot more by turning to solar if you are a homeowner or a business owner experiencing fluctuating cash flow. Solar energy will actually help you forecast and have sound management of your expenses.
According to numerous studies, homes with solar systems are likely to fetch higher prices on the real estate market than those without. That is why appraisers have taken solar installation into account when valuing homes for sale. And as more and more homebuyers become aware of solar systems, the demand for homes with installed solar panel systems continue to rise.
5. Solar power boosts the U.S. energy independence
Solar energy is in abundance because the sun is an infinite source of energy and this a key component for the U.S. to achieve energy independence. By increasing the capacity to harness solar power, we also help our country from the imminent price fluctuations in the global energy markets.
6. Job creation
Statistics from The Solar Foundation indicate that the solar industry created more jobs at the rate of almost 12 times faster than what the overall U.S economy had achieved in 2018. This translates into 1.2 percent of the total jobs created in the country. However, this growth in jobs is expected to go higher as many people turn to solar energy. Given that solar-related jobs seem to be paying relatively higher, it is important to note that they contribute more to the growth of the U.S. economy.
7. Environmental protection
Solar power is one of the best and effective ways to reduce carbon emissions. It is estimated that 38 percent of the total carbon emission in the U.S. comes from the buildings. For that reason, many people are shifting their attention to solar energy in order to reduce carbon emissions in the atmosphere. It is assumed that a typical residential solar panel can help in eliminating nearly four tons of carbon emissions each year. This is equivalent to planting more than a hundred trees per year.
8. Helps in demonstrating our commitment to sustainability
Sustainability, as well as corporate social responsibility, take a center-stage as the main components of an organization’s culture and values. These factors yield bottom-line results that seem to increase the community and consumers’ ability to recognize and reward businesses that operate responsibly. As such, businesses have come to realize that green credentials are actually a very powerful driver of every consumer purchasing decisions that create goodwill and improved results.
9. Uplifts employee morale
Just like the consumers, employees too have a demonstrated appreciation directed to the employer’s commitment to operating responsibility. In fact, employees share in the great success and contributions made by their organizations. And companies that take responsibility in their communities and environment are likely to experience lower turnover ratings, engaged employees and high levels of morale.
10. Stay competitive
Many companies are discovering the economic and social benefits of shifting to solar power. With the early adopters setting the pace in the competition, a large number of companies are going solar to keep up with the changing trend.