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Everyone knows that the price of solar panels is coming down and more people have them in their homes. But whether you should install them on your property always feels like a big decision. After all, it’s a large upfront cost (unless you have financing).
The good news is that installing solar panels brings all sorts of benefits. Here are some of the reasons why we think you should consider it for your property.
Lower Electricity Bills
One of the reasons is, of course, lower electricity bills. Solar panels generate free electricity once all the systems are installed, and can bring prices down by over 50%.
When combined with a battery, it is possible to reduce energy bills to zero. The battery eliminates the need to rely on grid power during the evenings and at night when the panels aren’t supplying energy from the sun.
For off-grid homes, this is even clearer. These pay no electricity bills by default because there is no relationship with the power company.
Scalability
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Another reason to get a solar panel quote is the sheer scalability of these systems. If you find you need more energy or you want to sell it back to the grid, you can simply add additional panels.
Scalability isn’t necessarily limited by your roof space, either. You can also put solar panels on any garden or land you own close to your property. Even adding double-sized solar panels is an efficient way to increase the effective size of your array.
Rising Costs Hedge
Solar panels are also a rising costs hedge. Even if energy prices go up in the future, solar panels will continue to generate electricity at zero cost at the margin.
Rising costs seem more likely because of the challenges of rolling out green energy at scale, and faltering conventional energy systems. Many companies are now predicting that a peak in oil extraction has occurred and that it will become more challenging to obtain energy in the future.
Low Maintenance Costs
Another reason to consider getting solar panels for your home is the low maintenance costs. Solar panels offer easy upkeep compared to, say, HVAC systems. Most designs don’t require any upkeep at all.
Solar panels work passively without any moving parts. This means that there is no wear and tear, as there is on most other household systems. Even the best engineered boilers will only last 20 years before completely breaking down.
The low maintenance costs of many of these systems is what sets them apart. All you need to do is clean them occasionally to allow light to enter their components efficiently. That’s it.
Increased Property Value
You might also consider investing in solar panels if you want to increase the value of your property. Many buyers now want them on their roofs, ready to go, because of the lower bills they facilitate and because they let them live greener lives.
Usually, solar panels will increase the value of properties by 4% to 6%. (The percentage can be higher on cheaper homes). Because of this, many solar panel installations ultimately wind up paying for themselves. Even if they cost 5% of the value of the underlying property, they make it back when you sell. There aren’t many home upgrades where that’s true.
Financial Incentives
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Depending on where you live, you can also get financial incentives for solar panels. These reduce the cost substantially and make them inherently more affordable.
The government is keen for more people to invest in solar panels for their homes, so they are always looking for ways to lower the cost of installations. Many grants and credits are available, so it is well worth exploring these when you have the time. Governments will require specific conditions, but these are usually minimal and often involve considerations of the size of the array you want to create.
Energy Independence
The fact that solar panels can make you energy independent is another big one. You no longer need to depend on the grid or the electricity supplier because you have your own panels.
Energy independence is something more people are becoming interested in as the world becomes more chaotic. Several years ago, it was widely considered fringe, whereas today, it is mainstream. Grid down events and storms are making more people wonder whether they need to take action.
Once you have energy independence, you also have full control over your supply. You don’t have to rely on anyone else and can simply enjoy your life. You avoid all the volatility in the energy markets, including price spikes which can push up your bills substantially.
Environmental Stewardship
Solar panels are also a way to achieve better environmental stewardship in your life. Instead of relying on convention electricity and fossil fuel emissions, you slash your carbon footprint and do your bit for climate change.
Solar panels still embody some carbon (as all technologies do). However, the repayment period is usually quite short. Most solar panels displace the carbon required to make them within 2 to 3 years of operation. Then, they go on to pay for themselves in the form of reduced electricity bills.
Many governments see this as the primary reason to get solar panels. They want to encourage people to reduce their overall burden on the environment.
Job Creation
Finally, many people see solar panel installation as a job creation method. This growing new industry has the capacity to power the economy going forward while providing stable, high-paying employment for thousands of people in the industry.
Job creation has significant economic benefits over time. Entire towns and cities can grow up with diverse economies, all backed by the renewable energy industry. As the sector expands, it will create more jobs that will then feed back into local businesses and better support them.
Ultimately, solar panels are something that a lot of homeowners are now considering. They represent an opportunity to be free and remain outside of the conventional power generation system. That’s why they are so attractive.
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