There’s no doubt about it: Solar energy is becoming even more popular as of late, and it’s for good reason. According to the Columbia Climate School, using solar panels (also known as photovoltaics) cuts down an appreciable amount of carbon emissions. In fact, the carbon footprint of energy generation from solar panels is about 12% less than that made by natural gas. As society becomes more aware of the precarious state of our ecosystem, realistic and long-lasting ways to make regular positive impacts become more vital each day.
While the conservation of our planet should always be at the forefront, there’s no denying that budgets are a real issue when making big household decisions. Thankfully, solar energy literally and figuratively pays out.
The upfront cost of adding solar energy to your home can be quite a large initial expense, though the U.S. Department of Energy is working on improving that as well. To help cushion that initial financial leap, you can also qualify for a tax credit for making the switch to solar energy. Despite the initial cost, the long-term savings and benefits to the earth make it one investment well worth making.
Lower Energy Bills
The #1 thing most widely touted when it comes to using solar panels is that it’ll substantially lower your monthly energy bill, and this is true. The average monthly energy bill is about $120 per household. While final results vary, customers have been found to save almost 80% in areas that get a consistent amount of sun.
More Money for Less Stress
With a significantly lower energy bill, you’ll find yourself with a surplus each month. The sky’s the limit here as it’s your money: Bulk up your savings account, put the money toward another bill or debt, or add it to your “fun money” fund. Not only is having extra cash each month a wonderful thing, but it also cuts down on money-related anxiety.
Conversion from Gas to Electric Everywhere
Many customers who have embraced solar energy have found that it opens up savings to their other monthly bills as well. Once the panels are installed, you can change your stove and water heater from gas to electric to piggyback on those savings. While this conversation also requires an initial investment, it immediately pays off. One tip is to switch your water heater when you’d already have to replace it: Make it a tankless electric heater for even more long-term savings.
Get Energy Companies to Pay You
It’s a nice change to have a utility company send you money back, isn’t it? Depending on where you live, your energy company will offer something along the lines of a credit back program. If you produce more energy than you consume, that surplus energy goes to the general grid. Based on location, you can receive anything from wholesale rebates to credits for your future energy bill. Switching to solar energy is truly a wonderful combination of having a positive impact on the environment and community while enjoying a massive amount of annual savings.
