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.
Everybody knows solar power is great in theory. Not only does it reduce your monthly utility bill, but it’s also good for the planet, helping to reduce our collective dependence on non-renewable energy resources. The only problem is that, for a long time, the costs of making the switch to solar power was simply too high for most families.
Luckily, that’s not necessarily the case anymore.
The solar energy industry has exploded over the last decade. Solar employment 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.
The reason for this growth is that now, at long last, going solar actually makes financial sense. Over the last 10 years the cost of installing solar panels has dropped roughly 70 percent thanks to lower equipment costs, lower installation costs, and various government tax incentives, including the Federal Solar Tax Credit. When you factor in all the money you’ll save on traditional energy over the course of 15-to-20 years, plus the value a solar energy system can add to your home, solar panels start to look like a very attractive long term investment.
How much value do solar panels add to your home? Some real estate experts estimate that solar energy systems add about 4.1 percent to the value of the average home, with higher rates occurring in major urban areas. Meanwhile, one study found that buyers are willing to pay $15,000 more for a home with solar energy. And another study concluded that, assuming your house gets enough light, you gain about $5,911 in value for each kilowatt of solar installed.
Unfortunately, the exact value of an investment in solar energy depends on a number of complicated 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. So how do you figure out if now is the right time for you to invest in solar panels? You turn to a company like Understand Solar.
Understand Solar is a third-party solar power advocate that provides free personalized solar energy assessments. All you have to do is fill out their simple online form and provide a few details about your home. After that, a solar energy expert will contact you via phone to go over your assessment and answer any questions you may have. But absolutely no commitment is required.
Understand Solar can teach you everything you need to know about going solar, from how solar energy systems work, how they connect to the public grid, how much solar panels cost, and how long solar panels last. They’ll also give you an overview of all the financing and leasing options, as well as any government tax incentives available where you live.
You may learn that solar energy is not right for you. If that is the case, your Understand Solar representative will explain why. However, you might learn that solar panels are an excellent investment. And if that’s the case, your Understand Solar representative will crunch all the numbers and put you in touch with experienced installers in your area.
Are you ready to declare your independence from the utility company in your area? Then get your free solar panel estimate from Understand Solar today.