The Earth intercepted 173000 terawatts of solar energy. This is ten thousand times more energy than the actual population needs on Earth. Although solar energy is so abundant, let’s seize the time. Here are 8 reasons why this is the best time to use solar energy.
1. Purchase solar energy at an affordable price
Many people still believe that installing solar photovoltaic systems will cost a lot of money. Ten years ago, this was almost a fact: a 6kW residential solar power system could cost over $50000.
Now, the average cost of the same 6kW system will not exceed $15000- $16000. The investment payback period is relatively short, approximately 6-8 years. Afterwards, you can start enjoying solar energy for free!
2. Utilize 26% of the solar federal tax credit (which is the case in the United States)
The Solar Investment Tax Credit (ITC) allows you to deduct 26% of the cost of installing solar systems from US federal taxes. ITC has no upper limit on its value and is suitable for residential and commercial solar systems. You can apply for a tax credit when submitting your annual federal tax return.
3. Net measurement saves money
The net metering reward allows you to send excess energy to the public grid. In return, when your solar panel cannot generate enough energy to meet your needs, it will provide you with energy credits for future use.
4. Obtain solar loans at an interest rate of 1.49% (as in the United States)
Although the price of solar panels has significantly decreased in the past few years, not everyone is ready to immediately take out $15000 from their pockets.
In this case, solar loans may be the answer. Usually, you can obtain a copy from a bank or your photovoltaic module manufacturer. The interest rate depends on your solar system type, capacity, and investment payback period, but on average, you will find that the interest rate is as low as 1.49% without the need for a down payment.
5. Increase the value of your house by 4.1%
In the United States, installing solar panels on average increases the value of a property by more than 4.1%. This will bring an additional $9274 for mid value homes.
6. Reduce carbon footprint by 25%
The per capita carbon footprint of the United States is 16 tons, which is one of the highest in the world. In fact, it is three times higher than the global average of 4 tons. Installing solar panels is the best way to reduce carbon footprint. A 6kW residential solar power generation system can reduce carbon footprint by over 4.5 tons per year.
7. Maintenance-free: Clean solar panels 1-2 times a year
Due to the lack of moving parts in the solar panel, maintenance is almost unnecessary. What you need to do is clean several times a year to remove debris such as leaves, dirt, or feces, and ensure that nothing blocks the sunlight.
8. Ensure that the solar panel can be used for a long time
Solar panels can withstand various environmental conditions, including category 4 hurricanes with wind speeds of 130 to 156 miles per hour, 1-inch hail, and extreme cold and hot temperatures.
Although solar panels can generally be used for 25 to 30 years, this does not mean that they will stop working immediately afterwards. It just means that their efficiency will slightly decrease.
