Many people are interested in lowering their carbon footprint and reducing their energy costs through renewable energy sources. Before you search “solar panels New Jersey,” consider the following benefits of solar energy.
Cost Versus Savings
Solar power has a high initial outlay cost because you need to purchase the equipment and pay for installation. In addition, your panels should be cleaned regularly. If you choose to purchase a battery system, your batteries will need to be replaced every few years. Finally, your inverter will need replaced after several years.
Most solar systems are purchased on credit, so you make payments over time. However, these systems are typically paid off within seven to eight years because you aren’t paying high monthly electricity bills. Solar systems have a more than 25-year lifespan. This means that your initial investment will reduce your energy costs for at least 25 years. In addition, depending on your system and region, you could significantly reduce or completely eliminate your energy costs.
Not only do homeowners with solar power experience a 20% ROI, but they also see increases in their property values. Homes with solar panels typically sell quicker and for higher sales prices than those without these systems. In addition, the demand for homes with solar panels is increasing.
Anyone who has paid an electricity bill for several years understands that energy costs consistently rise. Electricity typically increases up to 3% each year. However, you can better manage and prepare for your expenses by eliminating this yearly increase through adopting solar energy.
Solar energy is renewable, which means it is sustainable. This is unlike oil, coal and natural gas, which will eventually run out. In addition, solar energy has little impact on the environment. For example, residential solar panel systems reduce carbon emissions by three to four tons per year. You would have to plant 100 trees to get that kind of reduction.
If you are interested in producing your own energy, consider installing a solar panel system.