Deciding to invest in solar panels might be something you’ve considered before, but never followed through on. Debating whether the time and money are worth it can become exhausting, but given a newfound convenience and lowered cost, the choice is easier than ever before. Solar panels have become a great way to not only reduce your carbon footprint but also significantly cut costs on your electricity bill with immediate results.
Environmental Impact
Having solar panels installed is a great way to invest in an eco-friendly energy source. Solar power is extremely reliable and while there’s not an unlimited supply, it’s safe to say the Sun won’t be running out of steam any time in the near future. If you decide to install solar panels, you may also encourage your neighbors to follow suit.
Cost Effective
A lot of the time, it seems we’re forced to decide between making an environmentally conscious decision and saving money. Solar panels, however, will save you money and mother nature will thank you, too. The recent plummet of prices in the solar panel industry has turned what was once a good investment into a great one. It’s entirely possible that the cost of installing the panels is the last of the electricity bills. Many solar panel owners have a total of $0 per month for electricity, not to mention the folks in some states who are actually compensated by their electric provider for the power they contribute to the grid.
Expedited Selling Process
Solar panels let you increase your asking price right off the bat, and they’ll also help your property sell a whole lot quicker. Solar panels are becoming increasingly popular, but homes on the market with pre-installed panels are still at a premium. By putting the house on the market with the panels already installed, all of the work and headache is removed. It’s entirely possible that your home will be the only one in the area that is on the market with solar panels, a guaranteed way to drive up competition and close a deal quickly.
Numbers Breakdown
So, you may be wondering what you need to spend until the investment is worth it. Yes, the more you spend up front, the more you’ll save. Still, any sized investment is worth the effort. The national average for a solar panel system to power an entire house is 5 kilowatts. Given that each watt of solar adds about $3–4 of savings to your bill, expect to see at least a $15,000-20,000 increase in home value after the panels are installed. When going through the process of selling your house, make sure potential buyers are fully aware of the full benefits of a solar powered home.
Solar panels, whether you’re planning on selling your house within 6 months or 6 years, will undoubtedly pay dividends in the long run. If it’s a boost in your savings you need, or perhaps some more disposable income, it’s hard to turn down the profits you’ll see. Just by installing the panels and letting them do the rest of the work.
