Solar technology has become the leading alternative energy solutions in the world. In the last decade alone, there have been major leaps of advancement in this technology. People aren’t crazy about solar technology because it is trendy. This technology has so much potential. It has the ability to solve the global energy crisis by harnessing energy from a limitless source, without any repercussions.
As we all know, solar technology harnesses the sun’s rays in order to produce energy. Solar panels are exposed to sunlight, this causes the photovoltaic effect to take place. The photovoltaic effect leads to the production of electricity that can be used directly or stored in batteries.
A superb thing about solar power is that it does not produce any waste during the production process. You get clean and environmentally friendly energy. And since the sun’s rays are infinite, this energy source is totally renewable.
The world has been making an active effort to convert to solar in the past few years. Major countries are currently working on massive solar projects in order to decrease their reliance on fossil fuels. Unlike conventional energy production methods, you don’t need to have a lot of resources in order to set up solar powerplants. People have been setting up small scale solar powerplants in their homes for quite some time now.
Solar powerplants are cost-effective, simple, and flexible. This makes it easy to set up privately as well. A lot of people have begun setting up their own solar solutions in their backyards. This gives them access to clean and free energy for their homes. In the US alone, there are more than 1 million solar installations as of now.
There are still people who think that solar energy is hard to obtain due to cost barriers. The upfront cost of setting up your own solar solution looks pretty huge. However, when you compare it to the amount of money you get to save in the long run, it becomes obvious that a solar solution is really cost effective. Also, the cost of solar technology has been coming down lately. This is thanks to easier manufacturing methods being adopted.
Nowadays, there are companies that specialize in setting up private solar powerplants in people’s houses and buildings. These companies have made accessing solar solutions easier. Some even have installment-based plans for people who are unable to pay the whole amount at once.
Solar power is really cost effective, and installing a solar powerplant on your property can help you enjoy a number of financial benefits. Let’s look at some of the most notable financial benefits that come with solar powerplants.
Financial Benefits of Installing a Solar Powerplant on Your Property
If we look at the energy trend for the last couple of decades, the unsustainability of commercial energy becomes clear. Energy demand has been increasing at an astonishing rate. The energy supply has been unable to scale with the demand. This, along with reliance on expensive fossil fuels, has led to commercial energy becoming really expensive.
Commercial energy cost is always fluctuating. And most of the time, it only goes up. Relying on commercial energy leads to hefty bills that are quite taxing to pay every month. Being energy conscious and managing your electricity usage can only do so much.
Installing home solar solutions lets you decrease your reliance on commercial energy. Meaning that you have to worry less about your energy consumption habits. Given the current energy situation, solar solutions are far more cost effective for any household. You can end up saving loads of money every year.
Appreciation in Property Value
Adding anything to your property that increases its functionality increases its value in the real estate market. Installing solar solutions onto your home has proven multiple times to increase the value of your property.
If you decide to set up a solar solution on your property, you can expect to see your property’s value increase by as much as $15,000. And since private solar solutions are still uncommon, their rarity makes them a very premium upgrade.
Like we mentioned before, governments are making an active effort to accelerate the adoption of solar technology. A common way to do this is by providing people with incentives.
Take, for example, the incentives being offered by the US government for Americans who adopt solar technology:
- Solar Renewable Energy Credits
- Solar Investment Tax Credit
- State & Local Rebates
- Federal Solar Tax Credit
All of these incentives provide people with financial benefits that can actually help reduce the cost of setting up your solar powerplant.
No Geographical Limitations
Unlike other energy solutions, solar technology can work anywhere. As long as there is sunlight in your area, you can use solar panels to obtain energy. This means that solar energy is cost effective no matter where you live. Even if you live in colder regions, you can still use solar panels to obtain electricity.
Net Energy Metering
Having a Solar powerplant of your own means you actually sell energy to the government. Excess energy being generated by your system can be fed into the grid. You can then have the government compensate you for this excess energy. Net Energy Metering isn’t available everywhere, so make sure you check with your authorities about it.
Solar Energy Can Help Society in Times of Need
Commercial energy is supplied through cable networks that are quite easy to damage. Natural disasters can easily damage them, resulting in the energy supply being totally cut off. This can cause panic and disarray during times of crisis. Private solar powerplants spread throughout the country can shine during times like these. They can continue to supply power to regions even when commercial power becomes unavailable.
The decision to set up a solar solution in your own home is definitely profitable. You can save money by reducing your reliance on commercial energy. And depending on where you live, your solar powerplant can also turn into a source of passive income for you.
Private solar solutions have become easier to set up thanks to dedicated companies offering solutions now. People are also gaining access to financing schemes that can help make the initial cost of solar powerplants more bearable.
The best thing about solar power is that it benefits not only the person who owns it, but everyone in its surroundings as well. It helps reduce emissions and pollution. Solar power has the potential to heal the planet.