Solar Panel Benefits
Home Solar is great for you, for your community and for future generations – it’s one of the most responsible choices you can make. That’s why every year more American homeowners are making the switch to solar power.
Top 5 Benefits of Running Your Home on Solar Power:
Save 20-100% On Electricity Costs – Enjoy reduced electric bills as soon as the solar panel system is turned on. Whether purchased outright or through a PPA (Power Purchase Agreement) once the system starts generating electricity, energy savings range from 20-100% while reducing dependence on polluting fossil fuels. It’s like having a personal power station on your rooftop or property. If the solar power system is owned outright, it will earn revenue from the energy it produces and make profits. If the system is through a PPA, pay
Solar Power is Clean Power
If you wish to decrease your carbon footprint to help protect the environment, going solar is one of the most effective ways to do this. Solar is good for our environment. Here’s why…
Electricity production is responsible for a large percentage of all carbon emissions in the United States. Going solar helps to decrease the effects of those emissions. The average household emits approximately 20 metric tons of carbon pollution each year. By installing a solar power system, a typical two-person household reduces their carbon emissions by three to four tons annually. Solar reduces greenhouse gas emissions because the electricity that solar panels produce have low emissions. Most of America’s greenhouse gas emissions come from a combination of mobile sources (cars and trucks) and the power plants that generate energy.
for solar panels and installation and just pay for electricity at a rate that is lower than utility status quo. No matter what option you choose, once you switch to clean, green solar power, you are guaranteed substantial savings.
Profit From Your Solar Panels – Homeowners who own their solar panel systems outright don’t just reduce their electric bills but actually start making money by producing more electricity than they use. It goes back into the “grid,” earning real money for what the system supplies to the power company… Our clients enjoy seeing their meter spin backwards.
Increase Your Home’s Value – Solar homes are in demand. Buyers enjoy the benefits of an already installed solar panel system – and all of Solar Energy World’s warranties, service and support that go along with it. Each Kilowatt installed adds 3,000 to the home’s resale value on average. For more info on this topic click here.
Reduce Air, Water and Land Pollution – Solar power makes sense because tomorrow matters. Solar panel power reduces pollution caused by traditional power generation. With solar panels you are doing your part to ensure a cleaner, better world for future generations. For more information on this, click here.
Use energy guilt free – Never worry (or argue) about turning up the air conditioning or the heat again! (Many homeowners report this is an unexpected but very satisfying benefit!) Is Solar right for You? Your Free Solar Analysis will include a customized cost benefit analysis that shows you all the various ways you can go solar with Solar Energy World including our RateGuardian(TM) PPA that allows you to get solar panels and installation for
Great News for Environmentally-Conscious Homeowners! Solar Saves Money Too!
The good news for homeowners who care about the environment but who have not switched to renewable energy yet is today it is easier than ever before to start saving with solar power. Once your home solar system is up and running you not only reduce your negative environmental impact, you will also cut your electricity costs from 20-100% depending upon whether you choose to own your solar system outright, or go with a Solar Lease or Power Purchase Agreement (PPA). With a Zero-Down PPA or lease you have upfront costs for solar panels and installation. With approved credit, you can have a solar power system installed and only pay for electricity each month at a rate that’s at least 20% less than what your monthly electric bill was prior to going solar – so you start saving money as soon as your solar panels are installed. If you are interested in going solar, the best thing to do is to contact us to learn if your home qualifies for solar. Simply fill out the form below.
Down and only pay for electricity at a rate lower than utility status quo. You will also see how quickly you can recover your initial investment and start earning real money from your solar panel system if you decide to own your system.
The Right Time to Install Solar Panels
Suppose solar panel system continue to go down this year (2021) at rates similar to 2020. In that case, homeowners could expect to save around 150 by waiting another year to purchase solar equipment and an additional 150 off by waiting two years. However, at this point in the evolution of the solar market, those potential savings have become negligible, in contrast to the total amount to be gained financially by starting to produce your own electricity.
There are many cost considerations that factor into the total financial return from investing in solar panels over the period of the same 1 to 2 years. The effective loss of opportunity to take advantage of the available financial gains sooner is an effective cost of choosing the smaller savings on the price for solar panels later.
Opportunity Cost Incurred by Waiting
The average price of electricity for U.S. customers has escalated over recent years. At that rate, over the coming years, your energy bills may increase by another several percent per year. This means that for every year that you do not have the benefit of solar energy generation, you’re losing available savings. You are losing the opportunity to cut your utility costs by large amounts annually over the coming years.
Further, paying for electricity, even if the cost remains at the current utility rate, is likely to cost more than paying solar equipment payments. This means you’ll save even while you pay your solar equipment payments and pay the utility company for the portion of your electricity that you will continue to buy until your solar equipment is paid off.
Shrinking Incentives as Solar Use Grows
Incentive programs from states continue to be phased out as solar costs shrink due to increased solar adoption. The much anticipated Consolidated Appropriations Act (2016) extended the federal investment tax credit (ITC) for renewable energy equipment to 30% through 2019. The credit was then dropped to 26% for new construction in 2020, and down to 22% on new construction in 2023. The ITC is scheduled to settle permanently at 10% starting in 2024!
Various state and local programs can also be expected to shrink and ultimately disappear over the coming years, as so many already have done. Solar incentives differ between states. Find out about rebates and other programs in your state, for clarity on how delaying your solar installation can be expected to affect the amounts of any tax credits and rebates you can get now.
Expect SREC Programs to End
A Solar Renewable Energy Certificate (SREC), like some other incentive programs, pays you for the solar energy your system produces. SRECs are still being offered by some state governments and utility companies. But, these production-driven incentive programs, like so many other current incentives, will no longer be offered as solar adoption continues expanding across the U.S. and global markets.
If your state offers SRECs, and if you’re thinking about waiting to go solar, you should consider the lost value of the missed opportunity to generate income from your residential solar panels over future years.
When it comes to installing solar on your property, there are three primary decisions to make:
- What equipment you want to install
- How do you want to finance your solar panel system
- Which installation company works best for you
Here are some key facts to keep in mind about each:
- The key components to a solar installation are solar panels, inverter, and mounting equipment. Compare solar panels, inverters, and batteries.
- Not all solar energy equipment is created equal; panels, inverters, and batteries come with different warranties, efficiencies, certifications, and more.
- Premium equipment options will often come with a higher price tag but may generate more solar electricity than standard equipment options.
- Solar systems that can provide energy to your home even during a grid outage require additional equipment which will raise the cost of the installation.
- Equipment manufacturers warranty their products for 10-30 years.
- You can finance a solar panel system through a loan or lease. You can also purchase a solar panel system upfront.
- There are
Go solar and save – no roof required
With community solar, you can buy solar bill credits from a share of a local solar project. Our Community Solar Marketplace makes it easy to find, compare, and subscribe to open projects in your area.
- The first step is to receive solar quotes from reputable local solar companies, which you can do online through National Grid’s Solar Marketplace in partnership with EnergySage.
- The second step is for solar companies to finalize their custom system design and quote based on any details specific to your home, a process that can be completed via a video conference call with solar companies.
- Third, if and when you decide to make a decision on solar, you can select the installer with whom you’d like to move forward digitally through the Solar Marketplace.
- At that point, all that’s left is paperwork and contracts, all of which can be e-signed.
The actual solar installation largely occurs outside of your home with small, dedicated crews of electricians and installers. Installers will need access to your electrical panel but will otherwise be able to remain entirely outside your home. What’s more, solar companies around the country have been trained on how to practice safe social-distancing measures during installations.
Is now a good time to shop for solar?
Yes! Right now, is a great time to shop for solar, for three main reasons:
- There are great incentives such as the federal investment tax credit–which was extended with the Inflation Reduction Act, meaning you have more time to claim the tax benefit, which provides a tax credit of 30% for most solar shoppers.
- Second, by reviewing multiple quotes by vetted installers you’re able to save about 20% from average market pricing.
- And third, you can begin the process of shopping for solar now and plan for an installation later this year, allowing you to take advantage of the low costs and best financial incentives.
Additionally, you can shop for solar entirely online through our Solar Marketplace. Solar companies are likely to be very responsive and communicative when you shop for solar online right now.
How can I get started researching my solar options?
We help our customers explore solar options through our partnership with EnergySage, the country’s leading Solar Marketplace. You can learn more about the process of going solar, read reviews of local solar companies, and research and compare solar panel equipment. Use the online Solar Calculator to estimate how much installing solar can save you over the next twenty years.
When you’re ready to take the next step with solar, we want to help you get there. Register for a free account with EnergySage and receive custom solar quotes from pre-screened solar installers near you. Our advisor network is available to answer any questions you have about the process of going solar, the quotes you’ve received, or the solar installers in your area. No phone calls are required, and your contact information is not shared with any contractors.
-down financing options available for going solar.
Anyone who pays an electric bill can look into joining a community solar project. A community solar project is a solar farm in your area that you can subscribe to in order to support solar and earn savings on your electric bill. A Community Solar Subscription is a great option for renters or anyone who is unable to install panels on their property.
Solar panels are made of silicon. When sunlight hits a solar panel, electrons in the silicon begin to move, initiating a flow of electricity. This creates direct current (DC) electricity. A solar inverter will convert the DC electricity into usable alternating current (AC) for your home.
You can use EnergySage’s Solar Calculator to get ballpark estimates for solar costs and savings on your property. To use the calculator, you’ll need to input your address, confirm your roof, and enter an average monthly electricity cost. The resulting costs and savings estimates will take into account these factors, along with current pricing data and any available incentives.
Every solar panel system is unique. the number of panels you’ll need depends on how much electricity you want to generate, the efficiency of the equipment, the size of your roof, and your geography. When quoting a solar panel system, installers use design tools to propose an appropriately sized solar panel system based on these factors. Installers will also confirm system size at an in-person site visit prior to installation.
Net Energy Metering, or Net Metering, is a solar incentive that allows you to send any excess electricity your solar panels produce back to the grid for credits. You can draw electricity from the grid and use these credits at night when your solar panel system is not generating energy. If your solar panel system produces more than you used in a given billing cycle, we will add credits to use on a future electric bill. Alternatively, if you use more electricity than your solar panel system generates in a billing cycle, we will charge you standard electricity rates for the “net” energy you used from the grid during that month.
Yes. There are certain fixed charges associated with maintaining your connection to the electric grid that allow us to maintain and improve the system and respond to emergencies. If your PV system does not generate as much energy as you use, you will also be charged for the additional kWh on your bill.
The cost to install solar panels will depend on multiple factors, including your location, the type of equipment you choose, the size of the system, how you finance the system, and your installer. Fortunately, there are
Are you enrolled in the Distributed Generation program?
If you are enrolled in the Distributed Generation program, please be aware of changes:
- Distributed Generation credits only apply to current electric supply and delivery charges and cannot be used against late payment or gas charges;
- Excess Distributed Generation credits are not refundable and will apply to future bills;
- The amount due in the payment portal now matches the amount due on your bill image.
-down options available for installing solar panels, including both loan and lease arrangements.
There are currently both federal and state incentives available for going solar. If you purchase a solar panel system this year, the Inflation Reduction Act has increased the investment tax credit back to 30%.
Partnering with EnergySage, we are proud to provide the Solar Marketplace, where you can learn more about solar, make informed decisions, obtain multiple quotes from pre-screened, local installers, and more.
Distributed Generation Program ChangesThere have been three changes to this program. Read more here
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Changes in net metering programs might lower rewards for your solar energy
If you wait longer on getting solar panels, you may not be able to benefit from net metering. Net metering is one of the best solar incentives available to solar system owners in most states. Some states have even passed net metering laws, in other the participation in the program is voluntary. Net metering works on the similar principle as SRECs, only instead of payment in cash for your produced solar energy, you will receive credits from the utility company.
When sending energy to the grid, the electricity meter runs backwards, giving you credits for extra unused power your panels produce. The advantage you have right now is that a unit (1 kWh) of solar energy produced by your system is considered equal to a unit of electricity from the grid. As a result, your annual electricity bill will decrease according to how many units of solar power you sent back, hence how many credits you earned per year.
As with other incentives, even net metering is about to experience decrease in rewarded credits in the future due to rising number of solar installations. Many states and utility companies have already in 2020 started to work on new successor tariffs in net metering programs that will replace the current ones and most likely will not offer the current advantages .
Installing a solar PV system is proven to increase the value of your home
Putting a solar array on the roof of your home is an important decision, which involves looking 20 or more years into the future, or about how long the panels will be in place for. Many contracts are also created on a 20-year timeline.
Committing to an agreement along this time scale can be source of uncertainty for many people interested in going solar, as they are unsure if they will stay in their current home for this whole time.
Fortunately, whether you intend to stay in your home or sell in the future, adding solar power system will significantly increase the property value and help sell your home faster. Furthermore, it is becoming increasingly easier to sell your solar powered home and to transfer your lease to the new owner.
Here are some numbers, based upon studies from U.S. Government’s Department of Energy:
- According to a Lawrence Berkeley Laboratory study, each kilowatt of solar generation adds nearly one percent to the total value of a home. Considering that the average residential solar system ranges between 3 to 6 kilowatts of production, having panels on your roof could add tens of thousands of dollars to the home’s sale price. If you have a SRECs contract with the utility company, it only adds up to the final price as well.
- While solar homes in California sell for even higher, the trend of higher sale for solar homes holds true across a diversity of U.S. states, electricity markets and housing types.
- Additionally, a National Renewable Energy Laboratory study found that solar homes also sold up to 20 percent faster than a regular home . This means less time waiting for a buyer and receiving payment for your home, and the sooner that you can move into your new residence.
- Lastly, it is now easier than ever to sell your solar home and transfer your loan, lease or power purchase agreement to the new owner. Solar companies have specialized teams to administer these transfers of ownership and to switch service between the new and old owners .
When selling your solar home, consider finding a real estate agent who is familiar with advantages of solar power and can articulate the financial benefits to prospective buyers. You should share how much do solar panels save on your electricity bills and the annual earnings from SRECs with the realtor, and inform them of the expected remaining life cycle of the panels and their routine maintenance. information the realtor has, better prepared he will be to discuss the benefits.
Waiting on installing solar panels means missing on savings
In summary, purchasing solar panels for your home sooner rather than later is in your best interest as a homeowner.
You can begin saving on electricity immediately and secure flat energy costs, rather than paying for ever increasing rates. You would also be entering the market at its lowest price point, before PV panels go up in cost.
Acting soon means taking advantage of limited time government incentives while they are still available. And you are adding tens of thousands of dollars to the value of your home, whether you intend to keep the property or sell it in the future.
All in all, the benefits of acting soon far outweigh the modest cost decreases in hardware over time (which will likely be negated by extended increases from tariffs). By acting now, you can reap the rewards from decades of effort to reduce the cost of residential solar photovoltaic systems and you can utilize favorable government programs while they still exist, benefiting your family’s bottom line and fortifying the value of your most valuable asset: your home.