Are you still debating whether you should take the plunge into solar energy? Solar panel installation has been a leading topic in the conversation of renewable energy. Not only would it allow you to help care for the planet, but you will also access increased financial benefits! Read on to see 3 ways that powering your home with solar energy can be financially beneficial.
1. Saves on Your Utility Bill
The upfront cost of solar panel installation (between $15,000 to $25,000) can cause many homeowners to balk. But with the average American home spending over $1,500 on electricity every year, a solar panel would actually pay for itself in 7-12 years. A worthy investment!
Additionally, thanks to many states participating in what is called net metering, if at any time your solar panel produces more energy than what your home uses, your electric company will buy the extra energy and credit your account.
It may come as a shock that you will still receive a utility bill (unless you are completely off the grid), but most often, homeowners will simply get a bill for under $20. This is dependent on how much energy your home uses and how much solar energy your panels can produce.
2. Adds Value to Your Home
Since solar panels can save you so much on your utility bills, it automatically adds a ton of value to your home. It can increase your home appraisal in the same way a new addition or a renovated kitchen would. The financial benefits you receive get passed right along to any new homeowner looking to purchase, which means you, as the seller, can ask for even more. What’s more, the added value that the solar system gives to your home cannot be used in property tax assessments.
Currently, there is a 26% investment tax credit (ITC) that can be applied to your taxes from the total cost of install for all solar-powered homes and some commercial residences (under Section 48).
This program will be phased out, however, over the course of the next few years, eventually reaching 10% by 2023, so the time to act on install is now!
Is Solar Energy for You?
Solar energy has incredible financial benefits. Not only can you save money on your energy bills, but installing solar panels will also help care for the planet with renewable energy. While it can be a pricier investment upfront, you will save yourself thousands over the course of the years and add immense value to your home.
With a passion for transforming the energy world with solar energy, Browning Electric has been servicing the homes in Kansas City and other parts of Missouri for years. Without accepting anything less than professional installation, and the active certificates to show for it, Browning Electric will ensure that your solar panel install is smooth and professional.
With a 10-year workmanship warranty and a 25-year warranty on our solar panel materials, what have you got to lose?
Contact Browning for a free quote on your solar install today!