Top Reasons to 'Go Solar'
Adoption of solar power offers benefits to all consumers – whether motivations are economic, environmental, or personal. Following are some of the top reasons why solar energy is more popular than ever in the US and is being installed at residential and commercial properties at a record pace.
#1 Reduce or Eliminate Electric Bills
Electricity costs represent a large portion of monthly expenses for homeowners and businesses alike. A solar energy system will begin to generate electricity at a reduced cost beginning on Day 1 of activation. Generating your own power will continue for the >30-year life cycle of the system enabling you to either significantly reduce or altogether eliminate that monthly electric bill.
#2 Return on Your Investment (ROI)
Your return on investment with a solar energy system has the potential to exceed earnings compared with traditional investments. It is common for consumers to achieve full payback in approximately 8-9 years after installation. Thereafter, all savings are net profit.
#3 Protect Against Rising Energy Costs
Historically, residential electricity rates have increased annually by 3%. The power generated from your solar energy system will ‘lock in’ the rate paid for electricity.
#4 Increase Property Value
US Department of Energy studies have found that homes equipped with solar energy systems have higher property values and sell faster than non-solar homes. On average in Texas, the value of homes equipped with solar capture increases $4.00/watt. So, an average 5 kW system will yield an ~$20,000 increase in your property value. Read more.
#5 Boost US Energy Independence
The sun is a near-infinite source of energy and a key component of achieving energy independence in the United States. By increasing the capacity to generate electricity from the sun, we can also insulate ourselves from price fluctuations in global energy markets
#6 Job Creation in Local Economy
According to The Solar Foundation, the solar industry added jobs at a rate nearly 12x faster than the overall US economy in 2015, representing 1.2% of all jobs in the country. In addition, solar industry employment has grown by 123% in the past 6years, resulting in nearly 115,000 domestic living-wage jobs. This growth is expected to continue. As of 2016, 1 million solar energy systems have been installed on homes and businesses. Total US installations are expected to reach 2 million by the end of 2018.
#7 Environmental Protection
Solar is a great way to reduce your carbon footprint. Buildings produce 38% of carbon emissions in the US. The average solar energy system can eliminate 3-4 tons of carbon emissions annually which is equivalent to planting >100 trees.
#8 Commitment to Sustainability
Sustainability and corporate social responsibility are important components of organizational values. Consumers and communities are increasingly recognizing and rewarding businesses that elect to operate responsibly. Businesses are finding that “green” credentials are a powerful driver of consumer purchasing decisions which improves business-related results.