The world is turning towards more renewable energy. Therefore solar energy has become a go-to solution for households. As of 2021, solar energy accounted for 46% of the new electric generation capacity in the United States.
A huge factor that has led to such dramatic growth in solar energy in households is that it is a more affordable source of electricity than the power grid. Hence, more homeowners are turning to residential solar systems to minimize their reliance on the national power grid.
Here are three reasons you should invest in a residential solar power system installation.
1. Minimize or Eliminate Electric Bills
Over the past decade or so, the cost of electricity has been on a steady rise. Unfortunately, more and more people are getting overwhelmed by the frequent hikes in their electric bills. Some people have been forced to make substantial sacrifices in their electricity consumption to try and minimize their monthly electric bills.
However, one of the best ways to minimize your electric bill is by opting for a residential solar system installation. Depending on the level of electric consumption in your household, it is easier to go off the power grid, and solely rely on solar energy for electricity. Thus, you can eliminate electric bills from your monthly expenses with residential solar system installation.
However, if your household utilizes a tremendous amount of electricity, you should consider supplementing your electricity consumption with solar energy. Thus, if going off-grid does not apply to your home, installing a solar energy system can help you minimize your dependence on the power grid. And therefore, save you money on lowered electricity bills.
2. Get Property Tax Exemptions
Several states in the United States have implemented property tax incentives to encourage residential property owners to install solar energy systems. The tax incentives come as tax exemptions after installing a solar system.
Generally, property taxes get calculated based on the property's market value. However, when you install a solar system, the taxman is willing to exempt the solar system's value from the overall market value of your property. Thus, you will pay lower property taxes.
3. Increase the Value of Your Property
Any improvements made to a property will add value to the said property. Therefore, whether you renovate the kitchen, add a patio, or install a residential solar energy system, the property value will increase.
Property buyers are willing to pay a premium price for homes that have solar systems installed. Therefore, if you plan to sell your home in the future, you should consider residential solar system installation to improve your home's property value.
