By Samantha J. Majka
Solar power is undoubtedly a great choice for eco-conscious homeowners that are seeking to reduce their carbon footprint. Furthermore, solar energy is free, meaning that investing in solar panels can reduce your monthly electric bill to zero dollars (or even less, with net-metering). But the benefits of solar energy reach far beyond those reasons. In fact solar installation can significantly increase the resale value of your home, meaning that not only will you be saving money now, but you can expect financial stability and security in your family’s future by increasing the value of one of your most important assets: your home.
The value of solar can be found in the fact that it reduces pollution, leading to a cleaner, better world for future generations, and it saves money, which is an obvious benefit. But the interesting thing about solar power is that its value increases over time. As the price of traditionally supplied electricity rises year after year, this translates to more money saved by using solar power. In fact, according to American Solar Energy Society, each $1000 saved in home operating expenses (such as electricity) translates to a $20,000 increase in home value.
During its lifetime your solar power system will pay for itself more than once. Even when the value of the equipment has depreciated, experience shows that homeowners will still pay more for a home with the system already installed than they will spend to buy a different home and have a system installed themselves. The appeal of solar is strong, but so is the convenience of a home that is already determined to be energy efficient, and ready to be lived in. This demand actually causes homes that are energy efficient, boasting features such as solar power systems, to sell much faster than their less efficient counterparts.
The benefits of solar are obvious, and they only stand to increase as technology improves, and as the price of conventional electricity continues to increase. Solar Energy World is available to answer your questions about going solar. Follow us @solareworld on Twitter, and “like” us on the Solar Energy World Facebook page.