WHY CHOOSE SOLAR
1. Control Your Electricity
2. Supplies Green Energy
3. Raises Your Property Value
4. Incentives and Tax Breaks
5. Solar Has Become Affordable
5 Benefits of Solar Panels
Do you imagine how installing solar panels on your home or business would look? These days, solar rooftop panels and battery systems are more affordable than ever. They also offer an efficient and resilient option for your property. Spectrum Solar has compiled the top 5 benefits of going solar today.
Invest in solar for your property for as little as $0 down today!
1. Control Your Electricity
Installing solar panels with or without a home battery system that you are in control of, not the utility company, is liberating. Choosing solar means you avoid charges of using energy during peak hours, have a reliable backup system if the grid goes down, and can even avoid having a monthly electricity bill.
Across the country, the average cost of electricity has gone up 15% in the last 10 years. This trend is unlikely to break. Solar service, solar loans, or even buying your own system can offer a significantly more predictable cost. Solar power is also typically less expensive than local utility companies, especially in locations like Florida, Texas, Colorado, Georgia, The Carolinas, New Mexico, New Jersey, Illinois, Missouri, and Virginia.
Some area utility companies have time-of-use rates, and these are not always predictable. If you rely on the power company, you could be charged a higher rate for using electricity during high-demand times. With a solar system, especially with batteries, you can avoid these charges and further optimize what you’re saving by installing solar panels.
With additional equipment, your solar panels can also protect you from the next blackout. As a nation, the U.S. has one of the highest incidences of power outages in the developed countries. Unfortunately, these events will only increase as the power grid ages and more extreme weather hits the States. A solar system from Spectrum Solar, one of the best solar companies in the country, can remove the uncertainty you face from these events without the expense of a generator.
2. Supplies Green Energy
Solar panels offer a clean and infinitely renewable energy source. Unlike the currently preferred coal and natural gas fuels, solar panels do not release greenhouse gases, harmful particulates, or other pollutants into the air and water supplies.
The decrease in air pollution alone makes installing solar panels practical. Scientists have theorized that using entirely solar power could prevent over $160 billion in environmental and health damages. Your choice to invest in solar could save over 5,000 lbs. of coal and the associated emissions as well.
The power of using solar for your home or business is immense. To put it into perspective, if humans captured all the sun’s energy that hits the earth in an hour, it would power every single electrical device on the planet for a year. Combined with the environmental benefits, and renewable energy technologies are the undeniable future of power generation.
3. Raises Your Property Values
Even if it’s still grid attached, having a home solar system increases your home or business building’s value immensely. In fact, the average increase across the U.S. is 4.1%. Across the country, solar panels are a solid investment.
Specific figures vary depending on the system you install and your property. However, you could see an increase in your resale value of $4000 to $6000 per kilowatt you have installed. This increase is because solar panels are that valuable to buyers.
The average price of a solar power system installation is easy to recoup upon sale of the home. If you do not intend to sell soon, solar panels will pay for themselves in reduced energy bills. Plus, you can take advantage of tax incentives from the federal government, state, and city you live in.
Additionally, homes with solar power systems tend to spend less time on the real estate market. While the numbers varied by region of the country when the study was conducted, the homes with solar panels sold 20% faster than those without them.
Hard data says everything. Installing solar panels is an excellent long-term investment in your property. Whether you’re selling in the next year or planning to stay in your forever home, installing solar panels increases your property values.
All studies are based on properties that purchased their solar systems, not those that lease.
4. Solar Qualifies You for Incentives and Tax Breaks
Many folks take advantage of leasing programs and power purchase agreements to install solar power. These agreements deliver the benefits of solar without worrying about maintenance or other agreements. However, the agreements do not give you the same benefits as ownership does in terms of incentives. While a solar system may cost between $16,000 and $21,500 to install, you can make back that cost in a reasonably short period due to the incentives.
Solar renewable energy credits (SRECs) can help offset the cost of a solar system. SRECs are necessary for some companies based on state requirements of a minimum Renewable Portfolio Standard (RPS). An RPS requires that your local power company must get a certain percentage of its energy from renewable sources like solar. As a home solar power system owner, you can sell your SRECs to a company that helps power companies meet this requirement.
As one of the top solar companies, Spectrum Solar notes that not all states currently have an SREC requirement (as of 2021). However, you may be eligible to participate in the market for other states that are near you geographically.
If you remain attached to the grid, you will deal with net metering to account for the energy produced by your solar panels. Net metering is simply a way for the energy company to buy excess energy from you if your system overproduces. It also lets you have access to power even when your solar panels produce less than you need. If you buy more from the energy company than they buy from you, you will still have a small power bill.
Federal Investment Tax Credit
If you purchase a solar panel system, you are eligible for the federal investment tax credit (ITC). The credit can cover up to 26% (2021) of the cost of your solar installation, including the price of a battery system if you opt for one. That means if you install a system that costs $18,500, you would only pay $13,690 after the tax credit is factored in.
If you want to use ITC to pay for your solar system, you will need to do it soon. The ITC is slated to be phased out within the next five years unless Congress renews it.
State Rebates and Tax Credits for Going Solar
States and cities can also offer tax credits and rebates on their own. These options can reduce the cost of adding solar to your property. As the available programs vary from municipality to municipality, it’s best to confirm the benefits you want to use through your local government office or utility company.
Spectrum Solar is very familiar with the options for Florida, Texas, Colorado, Georgia, The Carolinas, New Mexico, New Jersey, Illinois, Missouri, and Virginia due to operations in those states. The Spectrum Solar team would also be happy to assist you in finding information for other states.
Performance-based incentives (PBIs) are another potential reward for installing solar panels. A PBI works by paying you credits at a pre-determined incentive rate. This rate is based on how your system performs over a given time. A common PBI is a feed-in tariff.
States and cities can also offer tax exemptions on sales or property taxes for installing a solar system. In many places, these tax exemptions are invaluable to the household or business budget. Additionally, the tax exemption often follows the home, meaning you can ask for a higher price if you want to move. Depending on how the state does sales tax rates, that can also save you a lot of money.
5. Solar Has Become Affordable
In the last decade, the cost of a solar system has fallen more than 70%. Combined with the decrease in battery costs for storage, there’s never been a more affordable time for installing a solar power system.
Despite the cost decrease, it can still add up to install a solar system at your home or business. That’s why Spectrum Solar is committed to bringing you clean energy options. As one of the top solar companies, Spectrum Solar understands how vital renewable energy is to protect our communities.
Start your solar system today for as little as $0.
Choose an Experienced Solar System Installer with Spectrum Solar
The Spectrum Solar team is committed to helping communities build a sustainable future. Spectrum Solar offers everything from installing solar systems to maintenance, and we only work with reliable installers. Let Spectrum Solar help you as one of the top solar companies, so you can be sure your solar power system is top-notch.
Spectrum Solar currently operates in Florida, Texas, Colorado, Georgia, The Carolinas, New Mexico, New Jersey, Illinois, Missouri, and Virginia.
Get a Free Solar System Quote
See what your neighbors are talking about and request a free quote from Spectrum Solar. You’ll connect with an expert in solar energy systems, and our whole team will help you every step of your solar journey.
No-Obligation Savings Estimate
Go Solar With Spectrum Solar
Take control of your energy needs today! Call or contact Spectrum Solar to request your free, custom solar power savings estimate. You’ll be amazed at how easy it is and what you’ll save by going with the best solar company in Orlando.