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Weighing the Costs and Savings of Solar Panels
The idea of solar panels as an energy supply for private homes or businesses is not new to most of us, and chances are most are familiar with the environmental benefits of installing solar panels. If you’re looking to scale down your carbon footprint, switching to solar energy can make a big impact. However, if you’re a home or business owner, the decision to switch to solar panels for your energy source might seem like more of an ideal then a possibility. As important as the environmental factors are, we understand that you want to consider all aspects of installing solar panels, and your decision might lay in the dollars and cents. So, to help you weigh the pros and cons, you’ll want to consider what it costs and what it saves to switch your building to solar energy.
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What Solar Panels Costs
In actuality, the costs of installing your solar panels could be nothing at all. A combination of government and private programs, subsidies, leases and initiatives might mean that the up front costs of your solar panels are completely covered. Though, it is important to note that in order to receive the benefits of these programs, there will be some requirements that need to be met such as: region, enough suitable area for panels to be installed or other qualifiers.
What Solar Panels Save
According to ‘One Block Off the Grid’, adding solar panels to a home can bring in monthly savings well above $100 a month. When you consider this against the life of your solar panels, most are warrantied for 20-25 years, you’re looking at savings in the tens of thousands of dollars.
However, the money that adding solar panels to a building can save might be outshined by what they can earn. Many private property owners are selling off their unused solar energy for a profit!
In addition, adding solar panels to your property can increase the value and desirability of your property. A study completed by the National Renewable Energy Laboratory found that homes whose energy is sourced from their own solar panels typically sell 20% faster and for 17% more money than comparable homes using traditional power sources.
What’s more, switching to solar energy can give property owners the security of knowing that they won’t be affected by the ever-increasing energy costs of traditional power sources.
Considering your options and deciding if solar energy is the best solution for you doesn’t need to be a long or complicated process. To find out more about your options in solar panels, Contact Us today!
