Illuminating the Solar Energy Benefits for Homeowners
Are you also finding ways on how to cut costs on your bills each month?
In 2022, the average monthly electricity bill for households in the United States rose by 13% from the previous year, going from $121 to $137. This means that if you were paying $121 for electricity each month in 2021, you would be paying $137 each month in 2022.
This increase was due to a combination of factors. One was more extreme weather, which led to people using more electricity for heating and cooling. Another was higher fuel costs for power plants, which resulted in higher prices for electricity.
Looking ahead to 2023, it’s expected that the cost of electricity for households in the U.S. will continue to rise. In the first three months of 2023, the average monthly electricity bill was $133, which is 5% higher than the same period in the previous year. This means that if your electricity bill was $100 in the first three months of 2022, it would be $105 in the first three months of 2023.
These increasing costs have led many homeowners to look for more sustainable and cost-effective alternatives, like solar energy. In this article, you will know the benefits of solar energy to homeowners so that you as a homeowner could enjoy it too!
What is Solar Energy?
Solar energy is the energy we get from the sun. The sun has been producing energy for billions of years. It is the most important source of energy for life forms. It is a renewable source of energy, unlike non-renewable sources such as fossil fuels.
Click here – What is Solar Energy and Why You Should Know
The Illuminating Benefits of Solar Energy
From Sunlight to Savings
Solar panels convert sunlight into electricity. This means that instead of buying all your electricity from a utility company, you can produce some of it directly from the sun. The amount of money you save depends on several factors. These includes the following:
- how much electricity you use
- the size of your solar power system
- the amount of sunlight in your area
For example, if you live in a sunny state like California or Arizona, you could save around $1,500 each year. Over the typical 25 to 30-year lifespan of solar panels, that adds up to a lot of savings!
In fact, studies suggest that increased renewable energy generation has the potential to save American ratepayers tens of billions of dollars a year.
Increased Home Value
Solar panels can be a great investment for your home, not just for the environment, but also for your property’s value. Through the use of solar panels, you can add additional dollars to your home’s worth in the market. It is because it is considered an upgrade to your roof. In fact, according to a study by Zillow, homes with solar panels can sell for about 4.1% more than those without them. So, if your home is worth $300,000, solar panels could add over $12,000 to its value!
Government Incentives
The U.S. government offers a program called the Federal Solar Tax Credit. This is like a discount coupon from the government that you can use when you file your taxes.
Here’s how it works:
- If you install solar panels on your home, you can get back a portion of what you spent on your federal income taxes.
- The amount you get back is a percentage of the cost of your solar system.
- For systems installed between 2022 and 2032, you can get back 30% of the cost.
- This percentage will decrease to 26% for systems installed in 2033 and to 22% for systems installed in 2034.
- The program is set to expire in 2035 unless the government decides to extend it.
Click here – Government Incentives
Helping Homeowners Get The Benefits They Deserve
As a solar company, it is our part of Prime Energy Solar’s vision that every home is not only energy-efficient but also contributes to a greener planet and empowers homeowners with savings and independence. In addition, we aspire to our brand name that stands for advanced renewable solutions, environmental responsibility, and financial freedom.
Conclusion
As electricity costs continue to rise, solar energy presents a sustainable and cost-effective alternative for homeowners. Not only does it allow you to harness the power of the sun to generate your own electricity, but it also offers significant savings over time.
Moreover, solar panels can do the following for you:
- provide a reliable source for electricity
- increase your property’s value
- helps you become eligible for government incentives
So, if you’re looking for a way to cut down on your bills and contribute to a greener planet, solar energy might just be the solution you’re looking for. Start turning sunlight to savings today!
Sources
- https://www.eia.gov/todayinenergy/detail.php?id=56660
- https://www.energy.gov/energysaver/benefits-residential-solar-electricity
- https://www.forbes.com/home-improvement/solar/how-much-solar-panels-save/
- https://www.architecturaldigest.com/reviews/solar/do-solar-panels-increase-home-value
- https://www.energy.gov/eere/solar/homeowners-guide-federal-tax-credit-solar-photovoltaics
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