Solar is not the next big thing anymore. It is the big thing NOW.
Solar is one of the fastest growing energy source that is affordable, clean and abundant. Over the years, the cost of solar has dropped significantly; it has dropped by more than 73% since the implementation of the solar ITC (Investment Tax Credit) in 2006.
With such drastic plunge in the price of solar power, an increasing number of businesses are opting to install PV solar panels – because it makes perfect sense in terms of costs and savings. New and old businesses alike are going solar in order to reap the amazing benefits of this abundant resource of energy.
It is not only residential homes and businesses that benefit from solar, but also the overall economy; the demand for photovoltaic solar panel installations is proportional to employment opportunities. The high demand of PV installation signals a high demand for skilled labor who are trained to install the panels. Hence, this opens up employment opportunities in different fields such as construction, engineering, design, planning, etc. Overall, it’s great for the economy and the industrial sector.
Solar power has huge potential. Here are some of the most prominent reasons why investment in solar electricity makes sense:
- No more huge electricity bills
Utility bills take away a huge portion from your budget. Whether it’s for your home or business, you never want to spend a mountain of money just to pay off the electricity bills. Solar panels give you a financial cushion; you get a fair amount of your budget that would otherwise go into paying off bills. The energy generated from solar panels is enough to power multiple homes/buildings. So when you have PV solar panels installed on your rooftop, it means you have ample energy stored for future and that gives you cost benefits in the long run.
- Solar is a sustainable investment
Any valuable expensive costs money. The same is with solar panels – because they’re an investment. Just like an investment gives its return over a period of time, solar panels do too. The initial cost may be high, and you may as a customer contemplate on installation, but the cost benefits in the long run outdo the cost. So you earn more savings and have to pay out less!
- Easy budget management
With such volatile energy and fuel prices, you never know how costly electricity will become over time. Since it’s all very unpredictable, opting to go solar saves you from the stress each month – you know how much money you have to scoop out from your budget for the electricity bill. So you can manage and plan your personal or business budget accordingly.
- Boost property value
According to a study by a research team of scientists led by U.S Department of Energy’s Lawrence Berkley Laboratory, many home buyers are willing to pay more for homes that already have solar power systems installed. Buyers are “willing to pay more for homes with host-owned solar photovoltaic (PV) energy systems —averaging about $4 per watt of PV installed—across various states, housing and PV markets, and home types.” It is likely that as consumers become educated, solar equipped homes and facilities will have high demand and may even get huge premiums.
- Protect the environment
Solar energy is safe, clean and free of carbon emissions as opposed to mainstream energy resource. As a user of solar power, you make important contribution to the environment and the ecological system. This counts as a long term investment to protect the natural habitat, environment and the planet. Solar panels also help reduce the carbon footprints in the atmosphere, making the latter clean and healthy.