Learn These Advantages Of Solar Energy For Your Home

In other words, there has never been a better time to invest in a home solar PV system! While the overall cost of a new solar PV system can range from $10,000 to $30,000, recent figures from the Solar Energy Industries Association (SEIA) suggest that the average price of a new solar PV system in the United States is significantly closer to the lower end of that range.

 

In fact, the typical cost of a domestic solar PV system today is around $3/kW, or around $15,000 for a 5kW system, which would be enough to power the majority of American houses. Many states allow you to go solar for less than $10,000!

Furthermore, significant financial advantages are already available for most US homes that desire to switch to solar. In many cases, these solar incentives, which are explained in greater detail below, can assist in subsidizing the cost of a new residential solar PV system by more than 50%.

Stabilize Your Electricity Costs

Saving money on your energy costs is clear, but it is not the only financial benefit of installing solar panels on your roof. Solar energy also offers homeowners long-term stability and dependability in terms of residential electricity rates.

Fossil fuels are a limited natural resource with a history of unpredictable prices. When these resources become rare or appear to be scarce, their prices can spike unexpectedly.

 

The sun, on the other hand, supplies a limitless amount of energy that may be harnessed to power our homes. As a result, homeowners that install solar panels can stabilize their energy expenses, whilst those who rely on traditional energy sources will continue to face erratic and unpredictable energy rates.

Increase The Value Of Your Home

Investing in a household solar PV system can also considerably boost the value of your home. Several studies have shown that adding solar panels to a home can boost its value.

A comprehensive analysis undertaken by the Lawrence Berkeley National Laboratory reviewed data on sales over a ten-year period throughout found that The study studied a total of 22,822 residences (3,951 of which included solar PV systems) sold between the years 2002 and 2013 in 8 different states.

Home purchasers were regularly willing to pay a premium for homes equipped with PV solar panels, according to the researchers. The average premium paid for a solar-paneled home was roughly $4/Watt of solar generation potential or nearly $15,000 for a home with a 3.6-kW solar PV system.