4 Reasons Why Solar Energy Is Definitely Worth It
While solar panels have become a popular choice for those who want to "go green", is the initial investment really worth it? There are many things to consider when evaluating whether solar panels are the right choice for you. Every person and every home is different. Here are four reasons why solar energy may be a viable option for your home:
The most obvious benefit of installing solar panels is the amount of money that will find its way from an energy company's pocket to your own. The average household saves anywhere from $10,000-$20,000 over the course of twenty years. This figure depends largely on the type of solar panel that is installed, the amount of household energy consumption, and the cost of energy in the area.
The federal government's tax credit for solar panel installation stands at 30% of the installation cost. An individual could purchase and install a solar panel system for around $10,000-$15,000. The federal tax credit for one of these systems would total just over $3,000-$5,000. If you pair this with the incentives that each state offers, you can cover a large portion of the cost of your solar panel installation. With a 35% tax credit, Hawaii offers one of the best incentives for solar panel installation.
Invest Equity in Your Home
Skip that expensive bathroom remodel and invest in solar panels! While most homeowner's only receive a portion of their return on investment from a room remodel, most recoup the full value of their solar panels, less depreciation. Many people who self-install their panels are able to make money when selling their home. That's an investment worth making!
Save the Environment
While an online energy degree is one option to help save the planet, installing solar panels on your home is a close second! Our society has become extremely reliant on both oil and coal to meet its energy needs. Both of these energy sources are large contributors to global warming and depletion of our ozone layer. Over the course of thirty years a single solar panel has the same environmental impact as planting 3,030 trees or taking 41 tons of waste and recycling it.
The benefits of installing solar panels on your home is many fold. While the personal benefit of savings is huge motivator, the environmental benefits of residential solar panels will make them even more relevant in the coming years. Solar panels are definitely an investment worth making.
Kara Masterson is a freelance writer from West Jordan, Utah. She graduated from the University of Utah and enjoys writing and spending time with her dog, Max.
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