Logical Factors Why Installing Solar Energy is a Wise Decision
Installing a solar energy system on your home is something you may be considering, like many American homeowners. With over 2 million installations around the country, it’s becoming an increasingly popular option, according to the Solar Energy Industries Association.
Solar energy’s popularity means there is no indication that this number will do anything but grow.
If you’re still on the fence about whether solar energy is right for you, here are seven reasons why it could be one of the smartest decisions you will ever make.
Solar Energy Has Become More Affordable
One of the reasons that homeowners haven’t considered solar energy in the past is that it has a perceived heavy cost. While this is true, it’s now being considered more of an investment than a cost. The prices of solar systems have dropped dramatically as their popularity increases and more competition arises in the manufacturing market.
In fact, the cost of solar photovoltaic (PV) has had a significant drop since 2014, according to the Office of Energy Efficiency & Renewable Energy.
The Return on Investment Is Amazing!
Obviously, every home improvement project has a return on investment (ROI), but you won’t find a more amazing ROI than a solar PV system. Not only do they pay for themselves with reduced electricity costs – sometimes in as little as 8 years – they add significant value to your property. Further, when a potential buyer is doing their balancing act between pros and cons, a solar energy system will put a big tick in the pros column!
After you have recouped your initial investment, the money you save increases your ROI by a whopping 100 percent, and this increases exponentially over the course of the system’s functional lifespan.
You may be surprised to know that with regular services and maintenance, your solar energy’s functional lifespan could be up to 30 years. There are few home improvement projects that can offer such a large financial gain.
Financial Incentives
With a nationwide focus on increasing our reliance on renewable energy, rebates and tax incentives are offered by many states. These encourage investment and installation of solar energy by homeowners.
In New Mexico, for example, the initial outlay for a solar energy system can be reduced with funded tax breaks and other financial incentives. Further, there are many counties in New Mexico that operate their own local incentives, especially if you’re a single income household or in a lower tax bracket.
If that’s not enough to help your decision to install a solar energy system, the Investment Tax Credit, which gives you around 26 percent of the cost of your solar system back, is also offered as a federal solar tax credit.
There are several net metering systems in New Mexico that allow you to sell your unused solar energy to utility companies, who will then give you a credit on your electricity bill.
Solar Energy Is Superior
Having an independent and reliable solar energy system is vastly superior to relying on electricity, especially in New Mexico. This is because New Mexico has some of the highest energy costs in the country.
New Mexico homeowners may need to rely on their own energy supply because of a likely energy crisis in New Mexico. Being without power during high energy usage times, like when air conditioning use increases during very hot weather, is obviously less than ideal, so having your own individual energy supply is a way to combat this problem.
New Mexico Is Ideal
New Mexico is an excellent state to live in – for many reasons – but even more so when it comes to installing a solar energy system. New Mexico boasts more sunshine hours than most other states, making it an ideal location for optimizing a solar energy system.
It’s More Reliable
Since solar started appearing on American roofs, the solar energy industry has come a long way. Many new innovations have seen improvement in the lifespan of solar systems, especially their durability and reliability as a power source.
The invention of solar storage batteries has made a significant impact on the reliability of solar energy systems as well. These are ingenious because they store the energy gathered during daylight hours so they can be used at night. Before the advent of solar storage batteries, homeowners could only use power generated during the day and had to rely on power supply from utility companies at night. This effectively lowered any savings that could have been made on power bills.
Becoming a Friend of the Environment
Installing a solar energy system has a positive effect on the environment. Fossil fuels are the major generator of electricity from utility companies, creating a buildup of carbon in the upper atmosphere.
Experts believe that this is a major contributor to global warming, local air pollution, and climate change.
There are no harmful or environmentally damaging by-products from solar energy, and it is considered a renewable and clean energy source. We can’t say yet that the production of PV panels is carbon neutral, but the carbon produced during the manufacturing process is relatively insignificant. This is in relation to the carbon that isn’t produced over the lifespan of the solar system.
A friendly chat with our knowledgeable, experienced, and helpful team at MySolar would be a perfect starting point if you are considering a solar energy system for your home. We can supply, install, and service high quality solar systems, and our customer service is second to none. We’d love to assist you in solving your energy needs.