Most homeowners invest in rooftop solar photovoltaic (PV) systems to reduce their monthly utility bills. With PV panels on their residential properties, these solar customers can generate their own free energy from the sun. In fact, every kilowatt-hour (kWh) of solar power consumed offsets exactly 1 kWh of electricity bought from the energy grid. And, because most utility markets across the country are expensive, going solar is a no-brainer.
But, what if your own monthly utility bills are below average – either because you live in an inexpensive electricity market or because you simply don’t consume a lot of power? If you’d only save $10 (or less) a month by installing panels, does it still make sense to invest in a rooftop solar PV system for your home?
In a word – yes.
Below are five additional reasons why every homeowner should request a free property inspection from a local and experienced solar PV contractor.
1. Utility Rates Will Likely Go up
Regardless of what your current utility bills are, the general trend is clear. Energy prices tend to increase with time. In the US alone, electricity rates nationwide were an average of 15% higher in 2022 than they were in 2021.
There are several reasons why this trend exists:
- Many utilities generate their electricity from fossil fuel, which is subject to price volatility due to rising demand for energy.
- America’s rapidly aging energy grid is already more than a century old. This makes it harder to deliver power affordably – even with frequent (and costly) repairs.
- Utilities must also invest resources to make the grid more resilient as severe weather storms continue to cause service disruptions.
Against this backdrop, even a small solar PV installation that only saves you a modest $10 a month today could help shield you from inevitable rate increases in the future. In fact, the PV system that you install today could end up saving you $50 or more if utility prices keep trending upwards.
2. Your Energy Consumption Will Probably Increase
Even if utility rates remained static for the next decade, your monthly electricity bill would still likely go up. This is because our energy needs continue to increase with time. 20 years ago, most households didn’t have computers. But now, we power our lives with countless smart devices and electronic gadgets – all of which need reliable access to power. Add to this the general “electrification” of society as more cars, furnaces, stoves, and other major appliances transition away from fossil fuels to electrons.
So again, $10 saved today could easily increase to $20 or more saved tomorrow.
3. You’ll Always Be a Carbon Emitter (Indirectly)
In the US, utility providers generate majority of their energy by burning fossil fuels like oil, natural gas, or coal. This means that if you power your home with grid electricity, you’re still indirectly contributing to climate change.
Fortunately, more and more states are mandating that their utilities invest in renewable technologies like solar and wind. But until your power provider makes the switch to 100% green energy, your home’s carbon footprint will never be 0%.
With solar installed, however, you can power your home or business with clean energy from the sun. If you couple your PV installation with on-site batteries, it’s possible to generate and store enough solar energy to power your entire home – including electric vehicle charging.
Simply put, going solar is one of the most effective ways to reduce your impact on the environment and shrink your carbon footprint – all while saving money in the process.
4. The Energy Grid Is Becoming Less Reliable
No utility market is completely immune to power outages. But both the frequency and longevity of grid failures are on the rise as weather-related events continue to become more severe as a result of climate change.
We’re already seeing this unfold, with states like California continuing to battle wildfires stemming from record-breaking droughts. And millions of Texans went without power for days in the aftermath of a freak winter storm in 2021.
However, this trend isn’t limited to the US. Global warming is a truly global phenomenon. And, as climate change worsens, energy security will only become less secure.
But. with sufficient PV capacity – coupled with the right type of solar inverter – you’ll always have reliable access to daytime power. This is true even if the entire utility grid goes down. With on-site batteries, you can store solar energy generated when the sun is shining to power your appliances at night.
5. Your Property’s Resale Value Could Increase (by a Lot)
Even if you don’t appreciate the above benefits, the next occupant of your home certainly will. In fact, they will likely pay a premium to move into your solar-enabled home or commercial space.
According to a 2008 study by the US Department of Energy’s National Renewable Energy Laboratory (NREL), residential property values increased by an average of $20 for every $1 in annual savings generated by rooftop solar PV systems. A more recent analysis by Zillow revealed that solar-enabled homes sell for 4% more on average. Even better, they spend 13.3% less time on the market.
And it’s easy to see why.
The next buyer instantly benefits from lower utility bills, increased energy security, and a smaller carbon footprint – the moment they move into your home or business.
By investing in your own solar PV system, of course, you can start enjoying these benefits today. That you’ll also fetch a much higher asking price when it’s time to finally sell your home or business is simply icing on the cake.
Ready to Start Exploring Your Solar Options Today?
The common wisdom has always been that solar PV technology made the most financial sense in sunny regions with high utility rates. This is still very much the case. More sunshine means more energy generation potential. And adding PV panels to your home can help reduce how much money you send to your utility provider, with those living in expensive markets enjoying the largest savings.
But, even in relatively inexpensive utility markets, installing solar PV panels on your home or business delivers a host of powerful benefits. And as grid rates increase and your energy needs go up, these benefits will only become more pronounced.
Best of all, exploring your options doesn’t cost a dime.
Most reputable PV installers offer free property inspections in which they’ll analyze your home’s solar potential. Thereafter, they can tell you exactly how much you’ll save every month by installing solar panels – both in terms of utility bill savings and carbon offsets.
To start the conversation today, click below:
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