Residential solar energy

Residential solar energy the top investment

Over the year it has been seen that there has been a steady rise in the rates of commercial and residential electricity, an exact estimate of about 25% rise has been given for the past six years. It is for this reason alone that the past couple of years have seen an increase and rapid growth in the usage and installation of residential solar energy for household purposes. The federal tax credit of 30% has been another factor responsible for the significant boost in the market that deals with solar energy installation and products. Solar energy is considered to be one of the most beneficial investments in the world of today because they tend to cover the cost of installation and purchase of the unit within a span of a few years, thus generating electricity virtually for free.

The economics of residential solar energy

It is a solid fact that the rates of electricity supply for both residential and commercial purposes are increasing significantly each year. It has been stated that an average resident will be spending more than $100000 on electricity in a span of the next 25 years which is a staggeringly large amount. With costs of everyday electricity supply rocketing to the skies, one looks for a source of energy which is reliable, renewable and cost effective. In this case solar power seems to be the most ideal solution for all power generation and production related problems. This is because the total cost of purchasing photovoltaic panels and installing them, eventually covers up within a span of a couple of years depending upon the size and usage of these panels, and then these panels provide you with power enough for your household usages virtually free of cost, and the energy is environment friendly as well. Solar panels increase the total value of your home, but at the same time, they also significantly lower your cost of living. It is a fact that the total value of your home boost many times with the yearly savings in electricity.

Solar energy benefits:

  • Significantly cuts down on the total amount of money spent paying electricity bills
  • Solar panels, also known as photovoltaic panels are considered to be the top investment in the word of today
  • It takes only about 4-8 months for the total cost of purchase and installation of the solar panels to cover up
  • Financing options are always available in order to significantly reduce or eliminate extra costs
  • Solar energy is completely environment friendly and does not produce any pollution
  • The government also gives great incentives for installing solar panels in the form of tax credits and rebates
  • Installing solar panels also increases the value of your home.

With so many benefits it is ideal to invest in solar panels, as they are not only environmentally friendly but will also save you money in the long run by cutting down on your electricity bills.