Energy and Financial Consulting
Top 10 benefits of solar energy
There are many reasons why homeowners and businesses go solar. Improving the environment and cutting energy costs are the most common. Many people recognize that solar energy is a great home upgrade and are eager to reduce their carbon footprint while simultaneously improving their property value.
Whether your motivations for going solar are economic, environmental, or personal, this sizable list of solar power benefits will have something for everyone. Here are the top ten reasons why solar energy is good for your home and why more popular than ever in California are switching to solar!
Whether you are a homeowner, business, or nonprofit, electricity costs can make up a large portion of your monthly expenses. With a solar system, you will generate free power for your system’s entire 35+-year lifecycle. Even if you do not produce a hundred percent of the energy you consume, solar will reduce your utility bills and save you a lot of money nonetheless.
Solar is not an expense – on the contrary, it is one of the best ways to invest, with returns rivaling those of more traditional investments such as stocks and bonds. Thanks to substantial electricity bill savings, the average California homeowner pays off their solar panel system in four to six years and sees an ROI of 20 percent or more.
One of the most clear-cut benefits of solar panels is the ability to hedge utility prices. In the past ten years, residential electricity prices have gone up by an average of 10 percent annually. By investing in a solar energy system, you can now fix your electricity rate and protect against unpredictable increases in electrical costs. If you are a business or homeowner with fluctuating cash flow, going solar will help you better forecast and manage your expenses.
Multiple studies have found that homes equipped with solar energy systems have higher property values and sell more quickly than non-solar homes. Appraisers are increasingly considering solar installations as they value homes at the time of a sale. As homebuyers become more educated about solar, demand for properties equipped with solar panel systems will only continue to grow.
The sun is a near-infinite source of energy and a key component in achieving energy independence in the United States. By increasing our capacity to generate electricity from the sun, we can also insulate our country from price fluctuations in global energy markets.
According to The Solar Foundation, the solar industry adds jobs faster than the overall U.S. economy. This growth is expected to continue. Because solar-related jobs tend to be higher paying and cannot be outsourced, they are a significant contributor to the U.S. economy.
Solar is a great way to reduce your carbon footprint. Buildings are responsible for 38 percent of all carbon emissions in the U.S. Going solar can significantly reduce that number. A typical residential solar system will eliminate three to four tons of carbon emissions each year—the equivalent of planting over 100 trees annually.
Sustainability and corporate social responsibility are important components in an organization’s culture and values. Consumers, businesses, and communities, are increasingly recognizing and rewarding businesses that chose to operate responsibly. Businesses are finding that ‘green’ credentials are a powerful driver of consumer purchasing decisions, simultaneously creating goodwill and improving business results.
Just like consumers, employees have a demonstrated appreciation for their employers’ commitment to operating responsibility. Employees share in the success and contributions of their organizations. Companies that care about their community and environment tend to have lower turnover rates, more engaged employees, and higher levels of morale.
Companies are quickly realizing the social and economic benefits of adopting solar power. As early adopters pull ahead of the competition, many companies are exploring solar power as a way to keep up.