Posted by Peter in Cost of Solar Panels, Do-It-Yourself Solar Panels, Home Solar Panels | 0 Comments
Home Solar Power as an Investment in the Future
Going green is the best thing we all could do to help the environment. But, many people have been asking themselves, when does it make sense to go solar and when does it make sense to do the simple, but important things to save energy? This may be a difficult question to answer, and the answer needs to be considered on an individual or household basis. That means that everybody has to take the responsibility to research and discover what does make sense for them.
For most households installing a residential solar system will lower the electric bill.
The average household today pays nearly $170 each month in home energy costs. Some estimates have energy costs pegged at almost $200 per month, a cost of $2,400 for the entire year.
A customized quote tailored to your specific needs will give you the most accurate information on your expected savings.
However, solar systems are not cheap, and the cost factor to purchase and install the solar system, has to be considered. Many people may choose to explore the do-it-yourself route, however, I understand that it may not be for everyone.
For many families, a solar system makes sense because the system will pay for itself in a few years, and time goes by fast. Plus, many states have government incentives that help pay for the initial costs to install a system, which I need to research a little further. Another fiscal benefit to consider when deciding whether or not to install a solar system for your home is the added market value to one’s home.
Home solar panels are a relatively new “home improvement” option, but they have been the center of attention by real estate appraisers in recent years. In 1998 the Appraisal Journal stated that for every $1,000 saved in annual utility expenditures a home’s value increases by $20,000. The idea being that every dollar saved in utility costs can be spent on a higher mortgage payment without a net increase in living expenses. So, if we take a utility bill of $190 per month, over the course of a year that’s $2,280 in annual utility costs.
Now, I don’t think just installing a solar system is a save all. At my home we are doing some simple things to cut down on the amount of power that we use. We use energy efficient light bulbs, energy efficient appliances and so forth. I feel it is important to think and live in future to save money and the planet – not just live for today.
Find more information about solar panels on Home Solar Panels blog. Also read my post: To Reasons toBuild the Solar Panels Yourself.