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Q: I am considering investing in a solar panel system to use for my home. What are the benefits of solar energy?
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A: Solar energy has become increasingly popular in recent years, with more businesses and homes using this form of energy than conventional methods. Solar energy is created by converting sunlight into electricity, with an estimated 173,000 terawatts of solar energy potentially reaching Earth at any given time. This energy can easily meet the homeowner’s energy needs, especially given the lifespan of solar panels: about 25 to 30 years. This makes solar energy a good long-term investment for homeowners.
Today, solar panels, batteries and roofs are more affordable than ever, making it easier to harness the sun’s renewable energy. However, before going solar themselves, homeowners should carefully research and understand the pros and cons of solar energy to make sure it’s right for their home—starting with these five benefits of solar energy.
Maybe it’s time to call on the pro-solar powers. Get a free, no-obligation estimate from an expert near you.
One of the main benefits of solar energy is the amount of money that homeowners can save on their energy bills. By converting sunlight to solar energy at home, less energy is taken from the grid, saving money on conventional electricity methods. In other words, solar installations can allow homeowners to become energy independent without relying on the grid for their energy source.
Common Residential Uses Of Solar Power In Your Homes
Although solar panels seem like a big investment, homeowners can pay them back with the money they save on their energy bills. As more solar energy is generated, the one-time money spent on conventional energy methods will provide additional income to homeowners. The cost of solar panels and batteries has dropped over the past decade, allowing homeowners to use solar panels and save money.
As governments look for better alternatives to fossil fuels, the incentive to use solar energy continues to increase. Installing a home system from one of the best solar energy companies also allows homeowners to receive government rebates, tax breaks and cash or loan incentives.
Solar panels have many advantages that ultimately increase the value of the home. Although the exact amount varies, some studies have shown that the resale value for installed solar panels is between $4,020 and $5,911 per kilowatt. As solar power continues to become a more efficient and affordable form of energy, home buyers may be looking for homes with solar energy systems.
Because homes are less dependent on the power grid, homebuyers know they’ll pay lower electricity bills and don’t have to worry about upfront investment and installation. Additionally, those looking to sell their home can factor in the cost of solar panels or a power system to add to the selling price of the home. New homeowners can also benefit from tax breaks in the future as they get a return on their solar home investment.
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Some homeowners may believe that if they live in an area with less sun or cloudy weather, they will not get the benefits of solar energy. While it is true that bad weather can hinder the efficiency of solar energy, energy can be stored through solar batteries and used on less sunny days. In addition, it is important to remember that even cloudy days or shaded areas can receive some sunlight to be converted into electricity.
Modern solar panels can work with less sunlight to achieve their goals. If the solar cells of the solar panel are protected more than 50 percent, the efficiency of the solar panel is reduced by half, but the energy production does not stop completely. Today’s solar panels even have shade-resistant solar cells that help generate power when bad weather hits.
As climate change continues to negatively impact the planet, it is important to find ways to reduce our carbon footprint. Solar energy is a clean, renewable source of energy that does not emit harmful pollutants that end up in the atmosphere and water supply. While fossil fuels emit high levels of greenhouse gases, solar energy helps reduce carbon by creating clean energy.
Solar panels are environmentally friendly products that help reduce environmental damage to the planet. For example, the average home in the United States uses up to 14,920 pounds of carbon dioxide each year. But if the homeowner installs solar panels as an alternative, the home’s emissions will be reduced by £3,000.
Why Solar Panels Are The Best Home Improvement Project For 2021
As more and more companies invest in solar panel installation and technology, installing a solar energy system at home is very easy. Once solar panels are installed, they require little maintenance for years—and homeowners don’t need to replace or check the system every week. While it is important to keep solar panels clean, periodic cleaning should only be done a few times a year, at most.
Many solar panels also come with an extended warranty if something goes wrong; however, it is almost impossible to cause significant damage to the solar panel. Additionally, panel inverters only need to be replaced every five to ten years, along with general cable maintenance. Compared to wind turbines, solar energy systems also produce very little noise, as they have no moving parts or gear blades that require regular maintenance. And how long do solar panels last? You will get about 25 to 30 years out of your panel.
A professional solar panel or solar energy system expert will be able to answer specific questions about the pros and cons of getting solar energy for your home. They can help determine whether or not solar panels can be installed on the home and whether it will be a good long-term investment depending on the location of the home. Deciding on a solar energy system can be a big decision, and having a professional guide you through the process can be very helpful. . Become a Motley Fool member today to get instant access to our top analytical recommendations, in-depth research, investment resources and more. learn again
The U.S. residential solar industry. installed 712 megawatts (MW) of electricity generation capacity in the third quarter of 2019, according to the U.S. Solar Market Outlook Report. – which is high after several years of disappointing results. Installers are entering states where they’ve never worked before, like Florida and Texas, where rising costs and policies are making solar more affordable than ever.
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What’s good for investors is that the industry looks poised for steady growth going forward. Here’s what the quarter looked like and what investors need to know about the future of home solar and much of the renewable energy industry.
Let’s start with the main numbers. Residential solar installations increased 18% in the third quarter compared to a year ago. California is the leading state with 41% of all establishments; Florida, Arizona, Texas and Nevada round out the top five.
The fact that this is the top state is interesting, and not just because it’s among the sunniest places in the country. Most of these states have a history of political opposition to solar power, so subsidies don’t support growth there. Solar wins because it saves costs for customers.
Analysts who prepared the report expect residential supply to grow at an annual rate of between 8% and 18% between 2019 and 2021, suggesting bright days ahead for the industry. And maybe it’s more than solar that excites customers.
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One of the interesting things that came out of the report is that the California market is driven by the mandate that new homes have supply starting in 2020 (which we know is coming), but also because — buyers want solar and energy storage in response to the number of supply outages electricity throughout the country. As utilities engage in deliberate power outages during periods of high winds in an effort to prevent new wildfires, customers are quickly recognizing the value of backup power sources.
At the same time, solar companies are making energy storage systems more affordable. Sunrun ( RUN -3.98 ), SunPower ( SPWR -2.39 %), Tesla ( TSLA 0.25 %) and Vivint Solar ( VSLR ) all offer energy storage solutions that meet the needs of California consumers (and elsewhere) and provide increased revenue for their businesses.
I think in 2020 we will see the expansion of energy storage not only in California, but in other states where backup energy resources are valuable, or the economics make sense because the resource has fixed demand costs or time-of-use rates.
The four companies mentioned above are the largest residential solar installers in the US and should all benefit from industry growth. But I think SunPower and Sunrun will benefit the most.
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