The greatest motivation for going solar is going to be environmental impact. Before discussing any of the monetary advantages to going solar, PE Solar must emphasize the wonderfully positive impact on the environment solar panels make, they remove Co2 from the atmosphere and reduce our foreign oil dependency.
The benefits of solar energy to the environment is the single greatest aspect of making the decision to go solar. Solar panels release the grasp the utility companies have over your household. Over 70% of the utility companies in the US use un-renewable resources such as coal or natural gas to generate power. Fossil fuels being a un-renewable resource are continually depleting and rising in cost. In addition to there rising cost, burning fossil fuels has severe known and unknown impacts on our environment each day. As of 2008 renewable energy sources only contribute to slightly over 9.5% of the energy that fossil fuels do. This is a percentage that’s growth is essential for the well being of the environment. (http://www.eia.doe.gov/emeu/aer/consump.html)
While contractors and solar panel manufactures will certainly use government incentives, rebates, payback scenarios and many other incentives to sway homeowners into going solar, the environmental impact of switching to solar energy will remain the greatest incentive to go solar. Having that said, here’s some interesting details on the monetary benefits of going solar
The average homeowners utility bill can range from 10-40% of there monthly expenses. Solar panels eliminate utility bills. Over the course of the next 25 years (the predicted life span of current silicon based solar panels) you will be saving 10s of thousands of dollars on utility bills. In the long run the solar panels can save 4 to 5 times their initial cost, making them a no brainer
Government, State and Local incentives :
The government is well aware of the need to increase the countries renewability, in fact as a country we get less than 5% of our energy from renewable sources. Because of this the federal government offers 30% of solar’s total cost back to homeowners via a tax credit on qualifying systems. In addition, individual states and local utility companies often offer aggressive rebate programs as well. In some areas of the country your solar project can be over 80% funded by available credits.
With AC outlets wired directly to your panels, power outages are a worry of the past. During production hours in the day, solar panels keep supplying energy regardless of what the utility company is struggling with. Power outages are virtually a worry of the past.