Back to School, Back to Savings: How Solar Panels Benefit the Budget

Solar panels are sweeping the nation, with many homeowners taking control of their electricity needs by benefiting from energy from the sun. So what are you waiting for? Read on to learn about some financial benefits of investing in solar panels.

1. Lower Energy Bills

Each month, the money you were paying to the electric company lowers because you collect energy from the sun that is converted into electricity for your home. Power your air conditioning, refrigerator, lights, and water heater with solar power. Many homeowners report saving as much as 70% each month on utility bills.

2. Energy Independence

Instead of relying on the electric company to power your home during a storm or an outage, you can take matters into your own hands. When you choose the combination of solar panels with battery storage, you can even have access to electricity when the sun is not shining.

3. Tax Incentives and Rebates

Take advantage of tax credits from the government and rebates from your utility company for using less energy and putting less pressure on the grid. In addition to federal tax credits of 30%, you can enjoy state-specific rebates and property tax exemptions.

4. Increased Home Value

A home with solar panels is considered modern and attractive to prospective buyers. Studies show that homes with solar panels sell faster and at higher prices than comparable properties. Increase your home’s value by installing solar panels.

5. Long-Term Investment

Solar panels are a long-term investment. While you may not see the ROI right away while you’re paying off your loan, the system will last 25 years or more. You can enjoy pure savings once the panels are paid off.

Call New Day Solar

Embracing solar energy is a smart financial move that benefits your budget in various ways. From lower energy bills and tax incentives to increased property value and long-term savings, solar panels are a wise investment for homeowners and businesses.

If that interests you, call our pro team at New Day Solar for a free consultation: (855) 444-6329. We can assist you with solar panel installation and financial planning.