There truly is no time like the present, especially when it comes to investing in solar power for your home or business.
Though the idea of harnessing the sun's energy has been around for centuries, it wasn’t until the 1970s that solar panels became available for powering individual buildings. Back then, the cost of solar was more than 100 times the price it is today and, save for a few early adopters, solar power was not heavily implemented.
Today, with its decreased cost and plentiful benefits, solar is becoming commonplace. Let's examine the biggest benefits to solar energy and why it's beneficial to invest in solar sooner rather than later.
Three BIG reasons to go solar
By producing your own energy, you'll require less or no energy from the grid so your monthly energy bill will be reduced significantly or zeroed out completely.
While there is an up-front cost to going solar, the system pays you back with savings each month until you break even. Then, you have free energy for the life of your system.
For example, if your current monthly energy bill is $200 and you invest in a $20,000 solar energy system, the monthly savings will pay you back in 8.3 years (in which the utility company may have raised energy rates by 2% each year). A solar system typically lasts for 25-30 years which means you could have 22 years or more of free energy.
When you invest in solar energy for your home or business, you produce your own energy which means you will be free from utility company rate increases. On average, energy prices rise 2% each year.
Using solar energy to power your home or business dramatically reduces your carbon footprint and helps keep the planet healthy. Rather than getting electricity by burning coal or oil which releases carbon dioxide and other pollutants into the air and contributes to climate change, solar energy is clean and renewable. By investing in solar power, you're also investing in a healthy planet.
Now is the best time to go solar
As if the ever-increasing benefits of solar energy aren't enough motivation to jump into the clean energy craze, there are a few other reasons to get started with solar energy right away.
Yes, the cost of solar energy is declining, but that doesn't mean it's financially beneficial for you to wait until it's even cheaper.
For example, you could wait another year to install your solar system because it might be $1,400 cheaper than it would be if you it installed today. However, if your energy bill is $200 per month, you would spend $2,400 on energy during that same year. By waiting for a cheaper price, you would actually lose $1,000.
Increasing Interest Rates
It is now more common for home and business owners to purchase their solar systems rather than lease the panels from a provider. Oftentimes, this requires a loan with an interest rate and those interest rates are currently increasing. By locking in a lower interest rate now, you can save money over the lifetime of your solar loan.
State, local, and federal jurisdictions provide tax credits as an incentive to invest in solar energy. These tax credits help offset the upfront cost of installing solar on your home or business to make it even easier to invest in clean energy, but they won’t remain in effect for much longer. Learn more about these tax credits and take advantage of them while they last!
If you are interested in learning more about adding solar energy to your home or business, call SunSystem Technology at 844-413-9456 or visit sstsolar.com.