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Utilities Business Review | Wednesday, April 10, 2024
Home values are likely to rise as a result of installing solar energy systems. In a Berkeley National Laboratory study, solar photovoltaic panels are perceived as upgrades, just like a renovated kitchen or a finished basement. Home buyers across the country have been willing to pay more for homes with solar panels, even if they are average-sized.
Fremont, CA:There has been a lot of discussion about solar energy for residences, and it is a worthy topic. Nearly 4 million American households already generate their own power from solar energy, thanks to the exponential growth in solar connections to the electric grid over the past several years.
Solar homeowners are saving money and improving the value of their homes using this renewable energy source. Since residential solar has generated so much interest and information, Energy Saver wants to highlight five benefits:
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Benefit 1: Solar panels are increasingly affordable
The federal residential solar tax credit has made solar more affordable than ever before. Income tax credits are available for 30% of the cost of solar systems. If you wish to take advantage of the tax credit, you need to install it before January 1, 2033, when it will be reduced to 26%.
Benefit 2: You can save money by going solar
As utility bills are expected to rise for years to come, solar will likely remain a good money-saving option for years to come. Solar energy systems vary in size and power output depending on how much electricity you consume, how much power they can generate, and how much you save. Solar energy systems can also be leased or purchased by third parties. These systems allow homeowners to install solar energy systems on their roofs and then purchase the electricity they generate back at a discounted rate. In addition to being cheaper than what utilities charge, electricity rates can also be locked in for years with these systems.
Benefit 3: You can keep the lights on when the grid goes down
In the event of a power outage, you can keep the lights on by generating your own solar power. The power from residential solar energy systems coupled with battery storage-generally, called solar-plus-storage systems-is available regardless of the weather or the time of day.
Benefit 4: Solar will often increase the value of your home
Home values are likely to rise as a result of installing solar energy systems. In a Berkeley National Laboratory study, solar photovoltaic panels are perceived as upgrades, just like a renovated kitchen or a finished basement. Home buyers across the country have been willing to pay more for homes with solar panels, even if they are average-sized.
Benefit 5: Solar systems work in a variety of climates
Only sunshine is needed to generate electricity from solar panels! Even during the winter, when there are fewer daylight hours, the average American home can still be powered by sunlight. As a result, solar power is viable even in Alaska, which has longer and colder winters. Regardless of your location, the U.S. Department of Energy's Solar Energy Technologies Office (SETO) ensures that solar panels will withstand the elements.
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