More and more people are discovering the value of installing solar panels in their homes. Of course, the first benefits you might think of are the cost savings and the environmental impact. But there’s so much more to be considered. When you harness solar power, you can actually take back a tremendous amount of power and become more independent. And who wouldn’t like a greater sense of freedom these days? Here are a few reasons why you should be harnessing solar power:
1.Save Money on Monthly Bills:
Yes, the first and most immediate benefit of going solar is that you can save money on your monthly bills. The price of energy is rising seemingly astronomically, with people paying thousands of dollars each year to run a medium-sized household. Furthermore, as more people are working from home, those electricity bills are only going up. And while you can often get a tax write-off for some of those expenses, if you work from home, there’s another option.
Buying or leasing solar panels is a popular way to save money on utility bills each month. Some services even promise that they won’t recommend you go solar unless they can guarantee you will save. While the initial cost of buying solar panels can be high, leasing means you can spread that cost over the lifespan of the panels. You’ll make a monthly payment, typically smaller than your electric bill, and have the peace of mind that you’re doing a good deed for the environment to boot.
2.Help Save the Environment:
One of the biggest threats to Earth’s environment is the increase in greenhouse gases. These gases often come from burning fossil fuels like oil, gas, or coal. To get electricity to your house, a power plant will burn those fossil fuels, convert them to electrical energy, and then transport that energy via wires to your home. As those fossil fuels are burned, they generate greenhouse gases, and those slowly erode Earth’s atmosphere.
With solar panels, the power of the sun is harnessed by the panels on your roof or a nearby location. That power is then transferred to a battery on your property and stored there for when you need to use it. Solar power is renewable, so you don’t have to worry about using a scarce resource. And nothing is burned and sent into the atmosphere.
3.Get Tax Breaks:
While you may realize you’ll save on your monthly bills, you may not realize you can also save on your taxes. One of the greatest benefits of being a homeowner is the number of tax write offs you can find. You get to write off the interest you pay on your mortgage loan. You get a deduction for the property taxes you pay. You can often even get a break for homeowner’s association fees. Solar panels are the icing on the cake.
As a bonus, you can typically get a tax credit from both the federal government and your state, depending on where you live. The federal tax credit allows you to claim up to 30% of the cost of your solar energy system. Each state also offers its own solar incentives. Some states will subsidize the cost of installing solar panels, and others will offer rebates. Look into your state programs to discover how much you can get back on your taxes.
4.Stress Less About Power Outages:
As energy costs increase and the demand on the energy grid rises, more cities and regions are implementing rolling blackouts. These planned blackouts are imposed to relieve some of the stress on the grid. They can typically last for several hours and are often implemented during the worst possible times, like the middle of a hot summer day. Add to that the natural disasters that can wipe out electricity for days, and you may feel like the situation is hopeless.
It doesn’t have to be. When you install solar panels, you’ll almost always have access to your own power system. So, while everyone else may be dealing with rolling blackouts during the height of July heat, your system will keep your fans and AC unit running without interruption. And when that winter storm takes out the entire grid, your heater will stay on and keep your family warm. It’s probably one of the greatest benefits of going solar.
Note: If for any reason you run out of solar power, you’ll likely still have access to city power in case of an emergency.
5.Increase the Value of Your Home:
Finally, most homeowners regularly think of how to increase the value of their home. Sure, you want the backyard pool or the kitchen or bathroom renovation for your personal enjoyment. But, you also love knowing that these upgrades can increase the resale value of your home by tens of thousands of dollars. Installing solar panels is one such upgrade often worth the investment.
Whether you’re leasing or buying, having solar panels on your home can increase the value of your home by an average of 4.1%. It’s important to note this number could be higher or lower based on where you live and how weak or strong your local solar community is. But, it certainly won’t lower the value of your home. In fact, it will likely make it a more attractive selling point if you decide to sell.
Ultimately, it seems there is no downside to installing solar panels on your home. You can save money, get back more on taxes, increase the value of your property, and feel good about your contributions to a clean environment. Of course, you want to do your due diligence to make sure you work with a reputable company. But, once you go solar, you’ll probably be trying to convince all your friends, family, and neighbors to do the same.
Disclaimer:
CBD:
Qrius does not provide medical advice.
The Narcotic Drugs and Psychotropic Substances Act, 1985 (NDPS Act) outlaws the recreational use of cannabis products in India. CBD oil, manufactured under a license issued by the Drugs and Cosmetics Act, 1940, can be legally used in India for medicinal purposes only with a prescription, subject to specific conditions. Kindly refer to the legalities here.
The information on this website is for informational purposes only and is not a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or another qualified health provider with any questions regarding a medical condition or treatment. Never disregard professional medical advice or delay seeking it because of something you have read on this website.
Gambling:
As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman, and Sikkim, prohibit gambling. Land-based casinos are legalized in Goa and Daman under the Goa, Daman and Diu Public Gambling Act 1976. In Sikkim, land-based casinos, online gambling, and e-gaming (games of chance) are legalized under the Sikkim Online Gaming (Regulation) Rules 2009. Only some Indian states have legalized online/regular lotteries, subject to state laws. Refer to the legalities here. Horse racing and betting on horse racing, including online betting, is permitted only in licensed premises in select states. Refer to the 1996 Supreme Court judgment for more information.
This article does not endorse or express the views of Qrius and/or its staff.
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