7 Things You Didn't Know About Solar Power

So let's take it all the way back to the start for all you newbies to sustainable energy. What is solar power? Well, the short answer is that it's the conversion of energy from sunlight to electricity.

Obviously switching from fossil fuels to a renewable source of energy is good for the earth — but that's not the only big benefit of going green. Did you know you can start saving money the moment you switch to solar and that you don't have to spend big bucks in the first place?

It's true, and we're ready to show you the light. Here are seven things you didn't know about solar power.

1. It Lowers Your Energy Bills — Once you've installed solar panels on your home, you'll see an immediate decrease in your electric bills. The higher energy costs are in your area, the more savings you'll see. According to NerdWallet's estimates, the average residential solar panel system lowers the household's annual electric bill by $600.

2. You Can Get Started for Free — Thanks to something called a power purchase agreement (PPA), you can pay only for the energy produced by your solar panels and not for any of the actual equipment. Horizon Solar Power, southern California’s local leader in solar power energy, offers this type of agreement, which allows customers to start saving on their electric bills with as little as $0 down. Horizon Solar Power also offers no-cost panels, free installation and free quotes for prospective customers.

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3. It Makes Paying the Bills More Predictable — When you get your energy from fossil fuels, you're subject to unexpected price hikes and the rising costs of inflation. Since you can't predict or control the price of fuel, there's no real way to plan ahead or accurately budget for what your monthly bills may be down the line. With solar power, however, this isn't the case. With most PPAs, you're locked in on a set price for somewhere between 10 and 25 years. This means that even if there's a huge increase in the price of natural gas or petroleum, you'll still be paying the same rate you agreed upon for solar energy.

4. There's Some Incentive From Uncle Sam — That's right: The government will give you green for going green. If you purchase a solar system that's placed in service before the end of 2019, the federal government offers a 30 percent tax credit. That number goes down to a 26 percent rebate for systems installed through the end of 2020 and down to 22 percent for those installed through the end of 2021.

Certain states, including California, provide additional credits or rebates for going solar. However, as an increasing number of consumers make the shift to renewable energy, many of these state-issued credits are being phased out.

5. It Increases Your Home's Value — Research from the Department of Energy shows that having a solar panel system can increase your home's value and speed up the sale of it. Having a solar energy system in place can still be an incentive for potential buyers even if you don't own the equipment outright. Under most common terms of a PPA, the owner is able to transfer the existing system to the buyer under the same contract terms when the home is sold. This would allow the new homeowners to also benefit from significantly lower energy bills without having to purchase any new equipment.

6. It Works Year-Round — Unless you live somewhere with an extreme winter climate, your panels will continue to produce energy throughout the year. Your solar energy equipment probably won't work as efficiently in cooler months as it does during the a scorching hot summer. But because solar panels are powered by light, not heat, your system will still be producing energy.

7. It Keeps Getting Better — As the world continues to burn through its finite supply of fossil fuels, it's becoming increasingly clear that the renewable energy sources are the way of the future. Scientists and engineers are developing promising new technologies that allow us to make even better and more efficient use of the sun's energy. As Yale School of Forestry & Environmental Studies' online magazine E360 points out, these ongoing advances continue to make solar power even more accessible.

Ready to get started? See How Much You Can Save With Horizon Solar Power

First Photo Credit: Oregon State University via flickr