Advantages of Solar Energy
A common question among consumers is why go solar? Converting to solar makes both economic and environmental sense. It is not just a trend or a fad that will pass with time, solar technology is based on sound economics and science. Whether at home or your business place, you will cut down on your power bill or eliminate it altogether. You and the world will be the better off transitioning to solar.
Reduces Your Electricity Bill
One of the major advantages of solar energy is that it offers you a host of options to reduce the size of your monthly electricity bills. With the cost of solar energy falling down significantly over the last couple of years, it is now cheaper than ever to set up your own renewable energy project at home or business. Supplement the electricity you consume and possibly even sell some of it to the grid.
Make Money Selling Solar Power
Feed-in-Tariffs (FiT) and Net Metering allows electricity consumers and investors to make money from the solar panels they install.
FiTs are programs targeted at investors with significantly large solar energy systems to sell the electricity they produce to the electric grid. They are designed to spur investment in renewable energy, with project owners being paid for the amount of power sent to the grid. Solar projects usually get higher rates per kilowatt of electricity than other renewable options like wind.
Net metering is a policy that allows electricity consumers who have typically small systems at home or business place to sell off any excess solar power they produce while still using the grid connection when there is little or no generation on their home system.
In the United States, an Act of Congress was passed in 2005 to make it compulsory for all public electric utilities to provide net metering to any customer who requests for the arrangement.
Government Incentives and Rebates
One of the answers to the question of why go solar now, is all of the opportuniteies local and federal government give you. Both federal and state based programs give attractive payoffs to those who choose to invest in solar. Federal funding will help you reduce the initial cost by up to 30% of the capital costs to get your project off the ground. This is complemented by a host of other rebates, tax credits and other incentives at different levels from the federal, state to the local.
Increase Property Value
Another one of the advantages of solar energy is installing solar panels, whether on a rooftop system or a ground mount system, you will significantly increase the equity attached to your home or business premises. This is in addition to the cost savings from reduced bills. According to research, the price premium you will get for the solar system may recoup much of the original capital investment.
Solar Makes Business Sense
The traditional school of thought has been that solar is only suitable for residential power supply. This is indeed very far from the truth where more businesses are realizing the enormous promise of solar to their commercial enterprise. Irrespective of the business you engage in, you stand to benefit from installing solar panels in the following senses.
Reducing power utility bills
Governments offer attractive incentives meant for business owners who install solar panels on their property
The value of your commercial property will increase after installing solar panels
By going green, you will enhance the image of your business