(Newswire.net — November 20, 2023) — Are you one of the 700,000 homeowners in America who installed solar panels in 2022? If you haven’t gone this route yet, it makes sense to at least explore some of the reasons to do it.
Whether the power grid goes down because of a storm, down power lines, or another malfunction, homeowners need to have some way to power their homes. Having a way to generate electricity independent of the power grid means that you, your loved ones, and your friends won’t need to panic if a nightmare scenario causes widespread chaos.
One source notes that around one in seven homeowners in the U.S. will have solar panels on their roofs by 2030. So, it’s clear that homeowners are jumping on board.
Here’s a look at three reasons to consider buying solar panels for your home sooner rather than later.
1. Cost Savings
One of the reasons to invest in a solar panel system is the cost savings. According to one source, the average return on investment for U.S. homeowners who get solar panels is around 10% over the lifetime of their solar panel systems. These systems typically last from 25 years to 35 years.
Some get an ROI that’s less than the average, but there are cases where some have achieved ROIs of 20% or even more. Depending on how much you spend on a solar panel system and how long you stay in your residence, you can definitely achieve a return on your investment. And in an age of high energy bills, you’ll find there’s more money left in your wallet at month’s end.
2. Boost Property Value
Another reason to invest in solar panels is that doing so can increase your property value. So, even if you live someplace and don’t plan to stick around for more than a handful of years, you can still recoup your investment from homebuyers interested in buying homes with solar panels. If your home is one of several on the market at any given time, yours will attract more interest than the others if you’ve invested in a solar panel system.
The more move-in ready your home is, the more attractive a commodity it will be on the market. No one wants to be tethered to the power grid — especially when it goes offline. So, homes with solar panel systems installed will be desirable to homebuyers looking for homes in your area. If you’re interested in solar panels but don’t want them on your roof, there are other methods.
“When it comes to getting solar panels, most people think the only option is to have the solar panels mounted to their roofs,” says Jen Helms, co-owner and director of business operations at Shade Power, a solar shade structure company in Sunnyvale, California that sells solar pergolas, solar carports, and ground-mounted solar panels. “Roof-mounted solar panels aren’t the only option. Solar pergolas and carports are great options as either an alternative to roof-mounted solar panels or for additional electricity production.”
3. Sell Excess Electricity to the Grid
If you generate more electricity than you need, you can sell the excess electricity to the power grid. It can be an excellent way to make some extra money every month. You’ll be a good neighbor and a good environmental steward by adding clean energy to the power grid.
If you’re thinking about getting solar panels for your home, these are three of the primary reasons to do so. Do your homework to make an informed decision that’s best for you, your family, and your residence.
One thing’s for sure, however. More and more homeowners are opting for solar panels for their residences, so it’s worth considering if it’s for you.