Is Owning Solar Worth It?

Whether or not owning solar is beneficial to you depends on your location, financial situation and energy consumption. Home owners who want to save money on utility bills and reduce their carbon footprint may find it advantageous.

However, if you plan to sell your house soon, community solar may be more suitable as it won’t lock you into panels on your roof. After all, those leases can cut into your return on investment.

1. You’ll Save Money

Owning solar is the primary advantage, as you’ll save money on power bills. Depending on where you live and which state you reside in, you may even qualify for tax credits or other incentives as a result of using renewable energy sources.

Net metering also promotes energy independence by helping you reduce the amount of electricity purchased from your utility provider. This could result in lower monthly bills or credits earned through selling excess energy back to the utility company through a scheme known as net metering.

To maximize your savings, try to reduce peak hour usage – when energy demand is at its highest. This can be accomplished by turning off air or heat at certain times during the day or investing in a time-of-use electricity plan that provides lower rates during off-peak hours.

One way you can save is by installing a smart thermostat that allows you to monitor and control your power usage. Doing this will reduce energy use during peak hours, leading to larger savings at the end of each month.

If you don’t want to pay upfront for your solar system, there are leasing options available. These companies will cover the installation expenses and offer you a lower electricity rate in exchange for using their panels.

They offer you solar energy credits (SRECs) for each MWh of electricity your system generates. These can be sold back to the utility company for hundreds of dollars in value.

Assessing whether solar is worth it for you depends on your current and long-term financial situation. If you can finance the cost of your system, expect significant reductions in monthly electric bills once installed.

2. You’ll Reduce Your Carbon Footprint

Every time you drive your car, turn on your heating/air conditioning, or use electricity for household appliances, you leave behind a trail of carbon emissions. This is known as your carbon footprint and it’s essential to understand how you can reduce it.

Start by reducing your transportation and food waste, eating a plant-based diet, minimizing waste production and protecting our natural resources. These small changes can make a big difference for our planet’s health and environment.

Switching to an electric vehicle not only reduces driving miles, but it can also help you reduce your carbon footprint. According to one study, an average car emits 4.6 metric tons of CO2 each year.

Your car’s emissions of greenhouse gases (CO2) depend on both its fuel type and driving habits. But you can reduce your carbon footprint by taking public transportation, walking or biking when possible, and driving an efficient vehicle that doesn’t burn fossil fuels.

For a sustainable energy source, solar power is an attractive option as it produces its own carbon-free energy with minimal environmental impact. As this industry expands and costs for installing solar panels decrease, you may want to consider switching over to this advanced form of technology.

Investing in solar panels is an excellent way to reduce your carbon footprint and reap rewards such as lower energy bills. Although the initial cost may seem steep, leasing options can reduce that initial outlay significantly. As a result, owning solar panels is becoming more and more popular among both homeowners and businesses alike.

3. You’ll Save Time

Solar power is an efficient way to reduce your energy bills and free up time for other activities. Plus, its panels are made to last for decades!

If you want to save time, start by assessing your electricity needs, your home’s orientation and the type of roof it has. These factors determine how much solar energy can be captured and how efficiently the system operates.

Once you know your needs, get quotes from several companies. Make sure they include local rates, incentives and any other relevant details so you can compare them and find the best deal, according to Vikram Aggarwal, CEO of energy marketplace EnergySage.

Another way to reduce installation expenses is by looking into solar loans. This allows you to pay off the system in installments, making it a good option for homeowners with limited cash on hand.

Aggarwal recommends that a reliable solar company should provide free quotes and assist you in evaluating your options. Furthermore, they will guide you through the process.

You should also assess if you qualify for state and local solar incentives. These can be tax credits that add up to thousands of dollars in savings over time.

Installing a solar system can often increase your home’s value, helping it to be sold at a higher price in the future. According to Zillow’s study, solar arrays can boost home values by an average of 4.1%.

4. You’ll Be More Comfortable

Aside from the obvious benefits, one of the greatest advantages to owning your own solar system is comfort. Your panels will produce more energy than needed, saving money on utility bills and keeping you comfortable at home even during hot summer days. Furthermore, using a solar power system reduces carbon footprint by using fewer fossil fuels – great news for our planetary cousins!

Purchasing a solar system requires an investment, but many modern solar companies provide financing options to get you started. This process, often referred to as a no cost loan, allows you to pay for equipment and installation over time. Alternatively, you could lease your system but the savings would not be as great as if you purchased it outright.

5. You’ll Have Peace of Mind

Solar energy is a renewable resource that can be utilized to power homes, businesses, and entire communities. This power can be generated in several ways such as photovoltaic cells or solar thermal capture.

Owning a solar system offers several major advantages, the primary being that you will no longer need to pay the utility company for electricity. This is especially advantageous in California where PG&E’s rates have been raised multiple times over recent years. Many homeowners who have been paying high monthly bills due to PG&E rate increases will find great relief with this move.

Another advantage of owning a solar system is not having to worry about your power going out. In case of major disaster or power outage, your home battery can provide backup power quickly and reliably, restoring normalcy in no time.

Selecting the correct installer is essential for your peace of mind. Make sure they’re a member of California Solar Service Association (CALSSA) and state-licensed, as this will guarantee your solar installation is done correctly and complies with all local regulations. Furthermore, look for NABCEP-certified installers – considered one of the most rigorous training programs in the industry – which guarantees accuracy in every step.

Finally, owning a solar system can also benefit you when selling your home in the future. Since solar leases often form part of the selling price, it’s wise to plan ahead and ensure you have enough cash on hand to cover any payments associated with owning and selling your house when ready.