Solar energy is one of the most popular types of renewable energy, and it’s easy to see why. Home solar panels can save you money on your electricity bills, increase your home’s value, and protect you from rising energy costs. Let's break down each point;
1. Solar panels can save you money on your electricity bills.
The average cost of electricity in the United States is about 12 cents per kilowatt-hour (kWh) but, depending on where you live, the cost of electricity can be much higher. In Hawaii, for example, the average cost of electricity is about 32 cents per kWh. Solar panels can help you save money on your electricity bills by offsetting the cost of the electricity you would otherwise have to purchase from your utility company.
2. Solar panels can increase your home’s value.
Solar panels can increase your home’s value by adding to its energy efficiency and “green” credentials. A study by the U.S. Department of Energy’s Lawrence Berkeley National Laboratory found that homes with solar panels sold for an average of 4.1% more than homes without solar panels.
3. Solar panels can protect you from rising energy costs.
One of the advantages of solar energy is that it is not subject to the same price fluctuations as fossil fuels. The price of fossil fuels, such as oil, gas, and coal, can go up and down depending on a variety of factors, such as international events and weather patterns.
The price of solar panels, on the other hand, has been falling for years and is expected to continue to fall. In other words, solar panels can help insulate you from the rising cost of fossil fuels. Now is a great time to invest in solar energy for your home. Solar panels are more affordable than ever and offer a great return on investment.
If you’re interested in solar energy for your home, enter your zip code below for more information and to find solar offers in your area.
Updated December 26, 2022