Home improvement

Cost-Saving Benefits That Result from Installing Solar Panels in Your Building

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Solar energy involves harnessing electricity from the natural power of the sun. It is an effective green alternative to traditional electricity that is sourced from non-renewable resources. Many of us are switching to solar-powered systems since it is reliable and is a huge money-saver when compared to traditional electricity.

Are solar panels ideal for US climate?

Solar panels can be used in several areas having low cloud coverage, as well as those locations that get loads of solar energy. North of the USA is quite popular for its heavy rains, as well as harsh sunny days. Similarly Portland, Oregon does not get many sunny days, when compared to Miami.

Overheating can be an issue only if you live in the deserts. However, the USA is a country where people can make the most out of the solar panel installation due to varied climatic zones.

Reduce energy bills:

The first question that would crop up is – ‘How does installing solar panels save money when I am spending so much on installation?’ The solar panel cost is dropping and the long-term electricity bill savings make the initial investment worth every penny. Electricity prices are rising by 3% every year and it is a smart decision to generate your own electricity for your home.

Monthly electricity bills make a considerable part of your monthly budget. The average yearly electricity bill is an electric bill for roughly 132.6 million electric customers in the United States was $200 and due to the rising prices, the amount spent on electricity increases every year. The electricity bill for 10 years would mount up to $6000. If you purchase a solar panel system that matches 100% of your electricity needs, you end up saving a huge sum.

The warranty of solar panels extends up to 25 years thus saving more in the long-run. If you find the upfront cost high, you can look for financing options like solar lease and solar loans. With solar panels:

  • Monthly electricity bills are predictable since you don’t have to deal with fluctuating prices of fossil fuels
  • You cut down so much on electricity bills
  • Budgeting is made easy

How is electricity generated on rainy days and nights?

During the times when the sun isn’t out, regular electricity serves as backup. During thunderstorms and at night, traditional electricity would be used and you’d only have to pay for the electricity used during those times and the solar electricity generated during other times is free.

Other cost benefits associated with solar panels:

  • Almost NIL maintenance cost: With utility companies you have to pay for maintenance and repair while in case of solar panels there is less likely to be any repairs. You only have to make a one-time payment.
  • Tax credits: Just like in several other countries, Americans who have installed solar panels are entitled to tax privileges for taking an environmental-conscious decision. The federal government would pay a specific percentage involved in your solar panel installation depending on the state you reside.

Consider investing in solar panels for long-term benefits. Cut down monthly electricity expenses in a smart environment-friendly way.