Solar electricity is cleaner and more renewable than traditional energy sources. As a result, it reduces your reliance on fossil fuels and helps combat climate change.
Electricity bills are often one of the highest monthly costs a homeowner pays. They are also highly volatile due to seasonal and usage fluctuations.
Lower Carbon Footprint
There are many benefits of residential solar electricity, but a major one is a lower carbon footprint. It is because solar energy is produced from renewable sources – such as sunlight, wind, or water – and does not release any carbon dioxide emissions into the atmosphere.
A household can also reduce its overall carbon footprint by changing its lifestyle habits. For instance, recycling and public transit are excellent choices that can lower an individual’s emissions.
Another strategy to lessen your home’s carbon impact is to consume less power. It is possible to do so by installing a battery or an energy storage system, which will allow you to store the power generated by your solar panels during the day and utilize it at night when the sun is not shining, minimizing the need for your home’s electricity to be sent into the grid.
If you’re a business owner, you can further decrease your impact by using high-recycled materials and sourcing from reclaimed or salvaged materials as much as possible. Reusing products like brick, metals, or broken concrete will save on the carbon emissions required to manufacture them from scratch.
Reduced Electricity Bills
Residential solar electricity can save homeowners on their energy bills by reducing a home’s reliance on the electric grid. It can reduce a homeowner’s monthly utility bill by a significant amount, depending on their location, weather conditions, and other factors.
A solar system can also provide a positive return on investment for many homeowners, especially if the system is installed under favorable conditions. In addition, most utilities offer net metering, or NEM, programs that allow homeowners to send excess energy generated by their solar systems back to the grid for a credit on their utility bill.
This credit can then be used to offset a future electricity bill. As a result, it can dramatically cut a homeowner’s energy costs, particularly in regions where the marginal price of electricity varies over time as demand increases.
Most solar owners also have the option to use their excess power to reduce their reliance on the grid, either by sending it back to the utility or storing it in a solar battery. In addition, a solar battery can serve as a backup system during an outage, helping protect a homeowner’s electronics and other essential devices.
In addition to the savings offered by solar, many states provide money-saving grants, rebates, and credits for homes with solar power systems. These can significantly reduce the initial investment of a residential solar energy system and ongoing operating costs.
Increased Property Value
Homeowners are increasingly interested in making their homes more energy efficient, and residential solar electricity is one way to do that. It’s a good investment that can pay off both in the long run and in terms of increasing your property value.
While installing a solar system is a significant up-front expense, it’s worth the cost in the long run because you will save money on your monthly utility bills. As the cost of electricity keeps increasing, it’s becoming more and more essential to go green and use renewable energy for your power.
The real estate website also points out that homes with solar panels are on the market for 13.3% less and are 24.7% more likely to sell above their asking price. It is excellent news for sellers and prospective buyers alike!
Moreover, solar panels can help landlords increase the rent they charge tenants. As a result, many renters are willing to pay extra for a home that uses solar power.
More Energy Independence
Residential solar electricity has the potential to help homeowners become energy independent, meaning they can produce all of their power without relying on the electric grid. The key to being energy independent is pairing your solar system with a battery storage system, which will allow you to store the excess electricity that your solar panels generate during the day and use it at night when the sun isn’t shining.
In many states, homeowners can sell their excess electricity back to the utility company for a credit on their electric bill. It is called net metering, and it’s one of the best ways to maximize your energy independence.
Most states also have pricing schemes that vary based on when you consume power, which can benefit solar systems. These plans are often referred to as time-varying rates or tiered pricing, and they can make your solar power even more valuable when your consumption changes during certain times of the day.
In addition, several state regulators are conducting processes to quantify the value of solar electricity produced in their jurisdictions. It is intended to create a more precise compensation mechanism for solar generation, combat solar opponents’ false claims that only solar benefits its direct owners, and develop more accurate information for policymakers.