Learning the benefits of home solar panels is always a good idea. Solar panels have steadily gained popularity in the U.S. over the last several years. However, it still has a relatively small share of the residential power market.
Though there are costs involved with installation, there are so many benefits that can dramatically outweigh that initial investment. If you’re considering residential solar panel installation or are just exploring ways to save money or improve your property, here are the main advantages that all homeowners should know.
Solar Power Is Renewable
Solar panels collect energy from the sun. Those rays do not deplete based on use. You can continue to collect them year after year without worrying about them running out. This is contrary to many other popular energy sources like coal or natural gas. In those instances, our supply can run low and eventually even run out entirely.
This isn’t just an environmental issue. It can also impact prices. Since solar energy doesn’t rely on those resource factors that are constantly changing, the price won’t waiver like those other energy sources. This makes it easier for solar customers to predict costs and manage budgets over a long period of time.
Solar Energy Is Cleaner for the Environment
Of course, there’s also a major environmental benefit of using solar energy rather than more traditional sources. Not only are the sun’s rays completely renewable, but solar panels also require relatively few resources to manufacture and maintain. When operating, they do not create any carbon emissions, which are harmful for the environment.
They do need to be manufactured. But once installed, they usually last for between 20 and 25 years and require very little in the way of repairs or maintenance. This means that there’s a very small output in terms of extra manufacturing, transportation, or shipping.
In the Long Run, Solar Panels Are Cheaper Than Regular Electric Bills
From a practical aspect, cost is one of the biggest advantages of having residential solar panels installed. There is an upfront cost involved for homeowners. However, there are plenty of tax credits, rebates, low interest loans, and other incentives available to help alleviate some of those expenses.
Then once you have the panels installed, there’s very little in the way of cost of ownership. Solar panels rarely require any repairs or maintenance, and most come with a lengthy warranty that would cover any related costs anyway. So over the course of about 25 years, you may not need to pay any extra to keep the actual panels up and running.
Of course, the big cost savings comes from reducing or even eliminating your monthly energy bills. Most solar customers stay connected to grid power in addition to having their panels installed. This allows you to access backup power when needed. But you should need significantly less electricity or natural gas to power your home’s appliances and electronics.
It may take several years for the savings you realize on your utility bills to cover the initial purchase and installation, but it almost certainly will eventually. In fact, studies have found that many of these systems have completely paid for themselves in savings within seven years. Sometimes it can take up to 20 years, but most systems last for up to 25. So you’ll still have years where all your savings are extra.
Solar Panels in Michigan Can Reduce or Eliminate Your Electric Bill Entirely
The energy savings that homeowners can realize of course come from reduced or eliminated electric bills. The exact amount that you can save depends on a number of different factors, including the type of panels you choose and the energy output of your home. However, Michigan homeowners save an average of $93 per month.
The typical American family spends more than $1,300 annually on electricity. So if you can cut that number even in half, it will lead to significant savings over the life of your solar panels. Of course, many families can cut their bills even more than that.
There’s also another aspect to consider. Traditional electricity prices tend to fluctuate as power sources and infrastructure needs evolve. Your energy provider can raise your monthly bills several times over the life of your solar panels. This can make the savings even more exaggerated. And it also provides the benefit of giving solar power users more predictability when it comes to their energy costs. Even if you’re still paying off solar panel installation costs, you should have a firm grasp on those monthly expenses. This can make budgeting easier and give you more control over where your money goes overall.
Solar Panels Raise the Value of Your Property
Even if you’re not planning to stay in your home for 25 years or the life of your solar panels, there are still financial benefits to consider. The environmental, cost, and convenience benefits of having solar panels already installed at your home can make it a more attractive option for potential buyers. People may be more drawn to your property and/or willing to pay a bit more for it, knowing that they won’t need to cover the cost of installation and that their monthly energy bills will be significantly lower than they would be otherwise. This can help you recoup some of that investment even if you won’t be there to realize all of the savings throughout the years.
If you want to take advantage of all the amazing benefits that solar power has to offer, contact The Green Panel today. We provide expert solar installation services to Michigan homeowners throughout the state and have been doing so for more than a decade. Our team is passionate about solar power and renewable energy, as well as helping homeowners realize practical benefits like cost savings. We will work directly with your family to help you find the exact solutions that meet your energy and sustainability needs. We work with top of the line solar panel manufacturers to deliver quality products, and our expert team ensures that they’re installed in the optimal spot on your property so you can realize the most possible savings. To get started, contact us for a free solar evaluation. We’ll visit your property and help you determine the best solutions for your needs so you can start enjoying all the financial and environmental benefits that solar power provides.