More than 1 million U.S. homes now sport solar panels on the roof. That number is expected to double in the next two years as the cost of solar continues to decline and solar awareness continues to rise.
While making the shift to solar is good for the environment, that’s not the only reason to invest in solar technology. Here are just a few of the many benefits homeowners can realize by going solar.
5 Reasons So Many Homeowners Are Going Solar
1. Solar is a good investment. While the exact ROI for solar varies according to location and other factors, research indicates that in most states it makes financial sense to go solar. Specifically, solar brings a better return than a five-year CD in 86 percent of states. If you live in one of the top 13 states for solar, you’ll actually do better with your solar panels than you would by investing in the S&P 500.
2. Solar is reliable. With any technology comes the potential for failure, but solar bucks the trend by being one of the least likely of your home’s systems to break down. While solar panels are typically warranted for 25 years, 90 percent of them last 30 years or longer. One report showed that many 40-year-old panels are still generating power at 80 percent of their efficiency. In addition, a residential solar system typically has no moving parts, and almost never needs repair.
3. Solar is security. Concerned about power grid security, future energy price hikes, and/or the escalating effects of global climate change on the weather? Installing a solar system with battery backup is an excellent way to ensure that you will always have the power you need at a price you can afford.
4. Solar protects our planet. Sunshine is a clean, renewable energy source that does not contribute to global climate change. While all manufacture has an impact on the environment, solar panels create far more energy in their lifetime than is consumed by making them. In fact, an average 4 KW solar power system offsets nearly 200,000 pounds of carbon dioxide in its first 25 years. It would take planting more than 2,000 trees to equal that amount of carbon offset.
5. Solar is hot — and that’s cool. Who doesn’t like to be the cool kid on the block? Solar is an undeniably hot and trendy technology, so why not add a system to your roof and enjoy witnessing the “panel envy” of your neighbors and friends?
How to Go Solar at Home
According to Google’s Project Sunroof, nearly four out of five U.S. homes have enough unshaded area to install solar photovoltaic (PV) panels. So when you’re ready for a larger investment in your home (similar to what you would pay for a kitchen remodel or home addition), chances are good that solar will pay off for you.
That said, PV panels aren’t the only way to go solar in your home. Here are more ideas, at a variety of price points for any budget:
• Solar water heater — A typical solar water heating system saves 50-80 percent on monthly water heating costs, even in a cloudy climate.
• Solar landscape lighting — Solar outdoor lighting doesn’t just save electricity. It’s also safer and reduces maintenance because you won’t have to run power lines outside.
• Solar chargers — A solar phone charger lets you charge your phone from anywhere, even on a hiking trip or in a boat!
• Solar Christmas lights — Solar LED holiday lights are convenient to set up, and can save you up to $10 for every 300 hours they’re lit.
These are just a few of the many benefits you can realize by going solar at home. Check out this infographic to discover even more compelling reasons why so many Americans these days are choosing to add solar to their homes.
Ryan McNeill is the president of Renewable Energy Corporation, one of the largest residential solar energy companies in the mid-Atlantic region. It is committed to providing homeowners with high-quality, American-made solar panels and solar energy products.