If you’re starting to research solar panel companies, you’re probably aware of the general benefits that a solar system can offer. If you’re not entirely sure what those advantages may look like for you, here are seven of our favorite benefits that you may not have considered yet.
1. Long-Term Stability
The energy industry is plagued by fluctuations in prices as supply and demand continually change. In general, however, electricity prices are on the rise. With solar panels, however, you can mitigate the risk of rising electricity costs, even if prices skyrocket.
2. Increase Real Estate Value
Installing solar panels on your facility raises your real estate value. At the same time, if you ever choose to sell your building, you can attract a new set of prospective buyers looking for energy-efficient technology. A comparative case study concluded that homes with solar panels typically sell 20% faster and for 17% more.
3. Start Saving Right Away
With a solar power purchase agreement (PPA), you can essentially lease your solar system for little to no money down, allowing you to start saving on electricity bills right away. Your solar partner takes care of installation, maintenance, and repairs. That way, you can get the latest in energy-efficient technology with minimal hassle. At the end of the lease, you then have the option to buy your system.
4. Quick ROI
If you choose to pay for your solar system outright, you can experience a full return on your investment in as little as 10 years.
5. Leverage Incentives
Solar solutions open up many possibilities for tax breaks, rebate programs, and other incentives to help cover the costs of your solar panel installation. By leveraging these savings programs, you may potentially be able to cover up to half of your upgrade expenses. Solar renewable energy credits (SRECs) can even help you generate positive cash flow over time.
6. Get Guaranteed Reliability
Most reputable solar energy companies offer a 20- to 25-year warranty with their solar panels. The standard in the solar industry is a performance warranty that guarantees 80% performance after 25 years of operation. But with proper maintenance, solar panels generally last much longer than this. In many cases, you can expect solar panels to generate optimal levels of electricity for anywhere from 30 to 40 years.
7. Protect the Environment
While solar panel solutions offer a number of financial benefits, you shouldn’t overlook the environmental advantages of going solar. Solar electric power can help you lower your carbon footprint substantially by freeing you from your dependence on fossil fuels. For residential solar systems, you can offset up to 100,000 pounds of carbon dioxide in 20 years, which is equal to driving a car for approximately 100,000 miles. These figures can be even higher for industrial applications.
Are you ready to take the next step to start generating electricity with the power of the sun? Contact the experts at Verogy to secure a brighter future today!