You Might Want to Consider a Solar Panel System
Solar panels are becoming increasingly beneficial with the rising costs of electricity. You’re probably feeling that high cost over these summer months when the air conditioning is running high and the kids are home from school using more electricity than normal. With rising utility costs, there are more government and economic incentives to reduce your carbon footprint and lower your monthly bill, not to mention the increased value added to your home.
Depending on your method of purchase for the equipment, solar can be a long term investment with a sizable return. Many people lease their energy system from a third party developer, at no upfront deposit or downpayment, and pay the electricity produced by that solar system, at a lower cost than the current rate.
When you invest in your own energy system through a cash deal, you gain complete ownership of your system and electricity produced from day 1. Cash deals have government tax credits, up to 30% of the cost of your energy system. While the upfront costs are high, the long term return is even higher. For example, a $30,000 investment would cost you $21,000 after a 30% tax credit. Taking into account a $3,600 savings (based on an average $300 utility bill), the system is paid off in 5.8 years, and you save $90,000 after year 25.
Even if you don’t plan on staying in your home for 20 years, a solar energy system adds incredible resale value. In the same way that swimming pools typically garner larger sales prices, so too, does an energy system. Best case scenario, your system cost $30,000 to install (before government tax credits), and sells for $30,00 higher. All the while, you still enjoyed the benefits from eliminating your electricity bill.
The maintenance? Solar panels don’t have moving parts, so much maintenance isn’t required. You’ll want to occasionally rinse the panels with soft water to eliminate any bird droppings, dust or leaves. In most areas, a little rain does this nicely.
We’ve had an amazing experience ourselves with solar energy. Tell us how you feel about solar, if you’ve thought about it, or some of the experiences you’ve had!
Source: Barnes Solar Engineering & Installation CSLB #943909