4 Financial Benefits of Switching to Solar Energy
Did you know that the solar industry is booming? Experts believe it will be worth around $200 billion in about five years.
This is because renewable energy is the way of the future. By tapping into the power of the sun, we can not only reduce our carbon footprints but can also save a lot of money.
Keep reading to learn all about the four financial benefits of switching to solar energy.
It Can Reduce Your Energy Bill
When being tied up with an electric company, you’re forced to pay whatever prices they set. However, investing in solar panels can give you energy independence. From then on, your solar panels will pay for themselves.
Over time, your bank will be bursting with savings.
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Increases Home Value
A home is one of the biggest assets you can have in life. The more you invest in it, the more you can get whenever you’re ready to move on to a new chapter.
It’s becoming increasingly common for homebuyers to narrow down their search to houses that are already energy independent. Most people don’t want to go through solar panel installation themselves. With that in mind, your home will be able to stand out from the crowd.
Not only will your house sell faster, but you’ll get even more money for it.
You Can Cash in Credits
Have you heard of renewable energy credits? These are credits that increase as you use your solar energy, with one credit equaling 1,000 kWh.
These credits are often referred to as either an AEC or an SREC. What’s so great about this is that you can actually cash them in for real money. Their exact value changes over time, raising or lowering like a stock.
You can either wait to cash them in all at once or get regular payouts.
It Gives You Tax Incentives
The cliche that only death and taxes are unavoidable is true. However, solar energy can give you the opportunity to pay less in taxes. For instance, you could take advantage of the Federal Tax Credit, which reduces the cost of installing solar panels.
In addition, there are tax incentives that vary by state. Depending on where you live, you could rack up your savings.
As if that wasn’t enough, you’ll be glad to know that some employers also offer a rebate when you make the switch to sustainable energy. You should check with your human resources department to see what they can offer you.
Are You Ready to Use Solar Energy?
Now that you’ve learned all about the four financial benefits of switching to solar energy, you can beef up your wallet like never before. Gaining your energy independence doesn’t have to break your bank, but it can do the opposite.
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