There are numerous reasons why a homeowner would want to go with solar for their home, but cutting energy costs and improving your local environment is the most common. Most homeowners are also aware that solar energy is a great way to reduce their carbon footprint while also increasing your property value.
Regardless of what your motivations may be, whether that is environmental, economic, or personal, there are benefits of having solar for everyone. Take a peek below and see the top five reasons why solar energy is efficient for a Long Island homeowner.
5. Protect your home from energy cost inflation
Inflation of energy costs within your home is inevitable. What it cost your parents to run their home is almost surely not the same cost as what it is today. With electric bills expecting to inflate on an average of 4.7%, installing a solar electric system on your home will protect you from unnecessarily inflated electricity rates.
4. Reduce your utility bills
Your monthly utility bills can take up a considerable chunk of your monthly budget. Giving away your hard-earned cash every month because of mindless electric usage is a significant drag. Installing a solar electric system on your home will decrease your electric bill by up to 75% or, in some cases, completely!
3. Government and New York State tax credits
Did you know that Uncle Sam helps with the upfront costs of going solar? Yes, that is correct, the federal government offers a twenty-six percent tax credit on the total cost of your system. Also, New York State offers a twenty-five percent tax credit. In total, a Long Island homeowner will receive up to fifty-one percent off of their system with tax credits! But it would help if you acted fast, the bad news is that after 2020 the federal tax credit starts dropping by four percent each year until it reaches ten percent.
2. Increase your property value
Numerous studies have shown that homes equipped with solar energy systems have a higher property value and, in most cases, sell more quickly than households with no solar. According to an article published by Zillow in 2019, New York State has the highest return for a solar energy system. At 5.4% of homes in N.Y. that have solar installs will sell for an average of $23,989 more!
1. The return on your investment
It is no secret that going with a solar energy system can save you money in the long and short run. However, some consumers still look at solar panels as an expense, but they are one of the best ways to invest. The average American homeowner will pay off their solar system within five to eight years and see their ROI to be 20% or more.
2020 can finally be the year that you decide to make the decision to go solar for your home. Give one of our specialists a call today to take the first steps and evaluate how going solar can be a great investment for you and our planet.