Is Solar Energy for Your Home Worth It?

So you’re thinking of getting a solar system for your home, and you’re wondering: Is solar energy really worth it?

The pay-off for a solar power system depends on a variety of things, such as your location, the amount of sun your home receives, and the amount of energy production. But there is absolutely no doubt that residential solar systems offer homeowners many benefits economically and environmentally. Let’s discuss the benefits of solar in your home and you can decide if it’s right for you.

Protecting your Home

Protect your Home from Outages

You’d experience resiliency with your solar and storage energy system with its ability to provide electricity during outages. Especially if you live where there are regular storms, hurricanes, wildfires, or other extreme weather, you’d be better protected from electricity shutdowns by installing a solar and storage system. With solar and storage energy, you’ll retain your lights, your heat, your refrigeration, and everything else that requires power in your home.

Money Savings

Lower your electricity bills

Of course, decreasing your monthly electricity bills with solar is a fact that is widely known. But how so? With solar energy, you produce your own electricity and would no longer need to use as much energy from power plants. This means you would pay less to your electric utility company or government for the power you consume. As a result, you decrease (or even completely eliminate in some cases!) your monthly energy expenses and increase your savings.

Savings in the Future: Receive Credit for Your Energy

With solar, you generate your own energy, and sometimes, you may generate a surplus. This surplus can be transferred to the grid, and your utility company can credit you for it. They’ll keep track of the energy you contribute to the grid, which you can get back during times of low solar energy production. This way, you don’t have to pay (or pay less) at night and in rainy months when your solar system generates lower amounts of energy. This is called “net metering”, in which your electric utility compensates or credits you for the energy that you contribute to the grid.

Let’s break this down a little easier. Think of it as a savings account at your bank. You deposit your money into your account, and the bank holds it for you until you’re ready to withdraw it and spend it. The same scenario with net metering, except the money is your surplus energy, the savings account is the grid, and the bank is your utility company.

This also means that you’ll save on your electricity bill when you draw your energy from the grid later on!

Get your Money Back Through Incentives

Get even more returns for installing your solar energy system. Your federal and regional governments might offer grants, rebates, or incentives to help you acquire your solar system more affordably. Don’t forget to check electric utility companies as well, as many offer solar incentives too. These incentives are often paid through cash rebates, tax credit, and tax exemptions, to name a few. For example, California’s Self-Generation Incentive Program (SGIP) provides rebates to support homeowners and communities in obtaining affordable energy storage.

Increase the Value of your Home

When you install a solar system for your home, you can actually increase its property value. The reason why your property value increases with solar is because the monthly savings on energy is an attraction to potential buyers. They’ll most likely prefer a home where they can lessen their monthly electricity bills. Homes with solar can sell more quickly than homes without solar installations as well.

Of course, something to keep in mind is that any increases in property value vary in a number of factors, such as location, local prices on electricity, the age of the solar system, and state incentives.

 

Be Future-Ready with Solar

Be Ready for the Future

Here’s the thing about solar energy: it’s expected to grow the fastest from now to 2050. This means solar PV energy will surpass wind, geothermal, and hydroelectric energy in renewable electricity generation. You’ll see more and more solar installations in homes and commercial buildings as solar innovation advances in the coming years. A solar system in your home is looking towards the future

Care for the Environment

Solar power is one of the cleanest and greenest energy sources you can have. By having a residential solar energy system, you’re actively reducing your fossil fuel consumption and carbon emissions. In fact, you can reduce your CO2 emissions by up to 96% by switching from fossil fuel energy to solar energy. So, by going solar, you’ll not only reduce your household’s carbon footprint, but also help improve the sustainability of the earth. Read more about the environmental benefits of solar here.

Installing a solar and storage system is a valuable way to optimize your home’s energy, maximize your savings, and contribute to sustainability.

Learn more about Schneider Electric’s and download the Homeowner Brochure.