The market for solar in the US grew at 76% in the year 2012, before 2012 it was not available at quantum in American households. There were indeed some advantages that the homeowners felt.
Listed below are those advantages:
Saves numerous dollars: According to One Block off the Grid, addition of solar panels to your home can indeed bring in numerous savings well above $100 in many states.
Start saving from the first day:Solar purchase power agreements (PPAs) and solar leasing, has made things possible that homeowners do not have to pay for anything more. Numerous homeowners choose to finance their solar panels with one of the pay as you go financing options.
It means the third party company owns the commercial solar energy systems and takes care of installation along with maintenance and repairing work. As of June 2013, 75% of all American homes have access to pay-as-you-go solar.
Low payback period: If you are choosing to pay in cash, the payback period in numerous cases is less than one decade. In Hawaii, it takes homeowners on average 5 years, before the monthly savings meets the entire cost of the solar system.
It increases the value of your home: Purchasing a home with a solar panel installed in it, would increase the value of your home while you resale it. A study conducted by National Renewable Energy Laboratory (NREL) concluded that homes with solar panels sell 20% faster and for 17% more money.
A study conducted by National Renewable Energy Laboratory (NREL) is of the opinion that homes with solar panels sell 20% faster and for 17% more money.U.S. Department of Energy’s (DOE) Lawrence Berkeley National Laboratory is of the opinion that sales price of the average home increased $17,000 with solar panels.
Taking advantages of incentives: As of 2009, the $2,000 cap on the Federal Solar Tax Credit is lifted. As an individual you will be getting 30% of total system costs back. It means you should save $7,500 on a solar system worth $25,000. If you are adding this up with state and localized rebate and Solar Renewable Energy Credits (SRECs), what you will witness is that the prices have been cut to half.
Solar is indeed a secure investment: With commercial solar energy systems one can calculate, how much electricity would be generated, and at what price. It can be estimated for the coming couple of decades.
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