Solar energy has always been a good idea, in theory. It’s good for the environment because it’s 100 percent renewable and emissions free, and it’s good for your long term finances because sunlight is free. But beyond the hypotheticals, is solar worth it in 2020? Have we finally reached the point where theory can become reality? For some people the answer is yes. But for others, the answer is still no. It all depends on a number of complex factors, including the architectural features and geographical location of your home, the prevalence of solar contractors and suppliers in your area, and the complex web of laws, regulations, and tax incentives in your particular state and municipality. The good news, however, is that you don’t have to figure it out all by yourself. Third-party solar energy advocated like Understand Solar can walk you through the entire process and help you determine whether a solar energy system would be a cash cow or a financial drain.
The average cost of installing solar energy systems has dropped by at least 70 percent over the last decade thanks to lower equipment costs, lower installation costs, and government incentives like the Federal Solar Tax Credit. With the startup costs associated with solar energy lower than ever, the solar energy industry has exploded. Employment in the solar energy sector has more than doubled since 2010, pumping an estimated $17 billion into the American economy, and the industry as a whole has experienced an average annual growth rate of 50 percent.
Lower startup costs mean it takes less time for consumers to start seeing a return on their investment in the form of significantly reduced utility bills. However, that’s hardly the only place they’re seeing returns on their investment.
Though the exact long-term value of a solar energy investment will depend on where you live and how much direct sunlight your property gets, generally speaking homes with solar energy systems sell faster and for higher prices than homes without solar energy systems. One recent study found that solar energy systems add about 4.1 percent to the value of the average home, with higher rates occurring in major urban areas. Another study found that buyers are generally willing to pay $15,000 more for a home with solar energy. And yet another study concluded that, assuming your house gets enough light, the value of your home increases about $5,911 per kilowatt of solar installed.
When you factor in the lower costs of installing solar energy systems, the potential gains in home equity, and the projected long-term increases in the cost of conventional energy, an investment in solar energy could very well outperform traditional savings, mutual funds, or even stock portfolios over the course of 20 years. But how do you figure out if going solar is worth it for you?
That’s where Understand Solar comes in.
Understand Solar is a third-party solar energy advocate that educates consumers, provides free personalized assessments of individual homes, and arranges in-home estimates with top-rated local solar installers.
To get started with Understand Solar, simply fill out their online form providing some basic information about your home. A customer service representative will then contact you by phone and go over your assessment.
It may turn out that solar energy isn’t right for you after all. If that’s the case, your Understand Solar representative will explain why. However, you might discover that you actually stand to lose money in the long run if you don’t go solar. If that’s the case, your Understand Solar representative will explain your financing options, and help you figure out what’s right for you. Then, if you wish to proceed, they’ll help you arrange in-home estimates with experienced installers in your area.
Want to find out if solar is worth it for you in 2020? Visit UnderstandSolar.com today and fill out their simple online form. You’ve got nothing to lose and everything to gain.
Futurism fans: To create this content, a non-editorial team worked with an affiliate partner. We may collect a small commission on items purchased through this page. This post does not necessarily reflect the views or the endorsement of the Futurism.com editorial staff.