Electricity is one of the most crucial resources in the modern world. People use it for almost everything – it powers mobile phones, office equipment, home appliances, and even transport networks. Simply put, the world would come to a standstill if electricity became unavailable.
According to rw-invest.com, the UK government’s new energy regulations for landlords, which will come into effect in 2023, will require homeowners to make substantial financial investments to ensure that their properties meet the required energy efficiency standards. The ever-increasing demand for electricity is also driving up the cost of living, so homeowners are looking for cheaper alternatives. This is where solar energy systems come in handy.
The ever-increasing demand for electricity is driving up the cost of living, so homeowners are looking for cheaper alternatives. This is where solar energy systems come in handy.
Solar energy is abundant, renewable, and sustainable. Moreover, the technology is improving, with panels gaining efficiency and reducing prices. So it’s not surprising that more people are adopting this renewable energy source.
Do you want to know if solar panels are a good investment for your property? Read on for the benefits of installing a solar system in your home.
Increased Savings
Once you install solar panels, your electricity bills will reduce significantly. Even better, the reduction is instant – you can start recouping the money you’d have otherwise used to pay for electricity from day one.
So, how does going solar increase your savings? Solar panels use sunlight to produce energy. These modules generate power regardless of prevailing conditions. The only discrepancy is that the amount produced reduces on cloudy days. Instead of using grid-based electricity, you can use solar energy, which is free!
Environmental Conservation
Solar power systems are a green energy source. Installing solar panels on your property helps to conserve the environment in two ways. First, it reduces greenhouse gas emissions that cause global warming and climate change. Secondly, it reduces the reliance on fossil fuels. Besides polluting the environment, fossil fuels are finite, explaining why prices constantly fluctuate and hike on short notice.
Unlike fossil fuels, solar modules require little or no water to generate electricity. Also, petroleum products are known to pollute water sources. Adopting solar energy reduces the strain on the global water supply and eliminates the risk of pollution.
Solar power systems thrive during heat waves and droughts. On the contrary, coal, gas, and nuclear power plants experience challenges in such conditions. This is because they require large amounts of water for cooling. Water scarcity increases the risk of power outages due to overheated equipment.
Reliability
Nothing is as disappointing as a power blackout at night. It can disrupt your entertainment, family time or a remote job. Even worse, technicians take longer to respond to calls at night, so you’ll likely remain in the dark until morning. Such are the problems of relying on grid-based electricity.
Solar energy systems are reliable. As mentioned earlier, panels can generate energy in overcast conditions. If you have a solar battery, you can store enough energy to power your home after sunset, saving you from the troubles of power outages.
Financial Incentives
Besides increasing your savings, installing solar panels makes you eligible for tax credits and rebates. Some governments offer you a tax credit for your solar panels when you file your taxes. The rates can be as high as 30%, meaning a $10,000 system would earn you $3,000.
Governments aim to encourage more people to adopt solar energy by offering financial incentives.
Increased Property Value
Installing solar panels in your home makes it more attractive to prospective buyers and increases its value. Why? The apparent benefits of going solar, such as increased savings, reliability, eligibility for tax credits, and eco-friendliness, appeal to many people.
You’ll regain the initial investment on your solar energy system when you sell your property, plus profits.
Final Words
There’s no excuse for failing to install solar panels in your home. Having solar panels increases savings, conserves the environment and makes your home appealing to buyers. These modules also reduce your reliance on grid electricity.
If you can’t raise enough money to purchase one, several financial institutions offer low-interest loans to help you. With a guaranteed lifespan of at least 25 years, adopting solar energy is an investment you won’t regret!