Home & Garden
Solar Power 101: How You Can Make Green By Going Green
You'll save big on energy bills, increase the value of your home and qualify for government rebates. [SPONSORED]
Happy almost Earth Day, everybody — we've got some great news to share.
It turns out that going green is good for the planet and good for our piggy banks. Switching to solar power, for example, lets us save the earth while saving money at the same time.
Really, it's pretty simple! Once you install solar panels on your home (which is more affordable than you might think), you'll start seeing the savings right away. Here are a few you can expect.
Lower Energy Bills
You'll notice a significant decrease in your electric bills. The higher energy costs are in your area, the more savings you'll see.
According to Mental Floss, the money you save on energy bills will pay off the initial installation cost of solar panels in anywhere from seven to 20 years. That said, the average customer savings over the course of 20 years is an impressive $20,000.
$0 to Start Seeing Savings
Thanks to something called a power purchase agreement (PPA), you don't need to buy potentially pricey solar panels to see these monthly savings add up. This type of solar leasing agreement offered by Horizon Solar Power is set up so that you only pay for the energy produced by the solar panels — not the equipment itself.
That said, as you find yourself saving big on those energy bills each month, you might decide it would be a wise investment to go ahead and buy the system outright. This shouldn't be a problem; common terms of a solar PPA allow you to purchase the panels at any point during the agreement term at the price defined in the contract or at the system's fair market value.
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Freedom From Inflation
The cost of old-school electricity varies as prices for fossil fuels fluctuate. With most PPAs, you'll be locked in at a set price for somewhere between 10 and 25 years — saving you from being subject to unexpected price hikes. Plus, unlike other sources of energy, the sun's power is not subject to inflation. This allows you to more accurately predict what your monthly bills will be.
Government Rebates and Credits
Even the government is providing some financial incentive for you to go green! When you purchase a solar panel system, you qualify for a federal tax credit equal to 30 percent of your system's cost minus any cash rebates. Certain states also provide additional credits or rebates for going solar.
Increased Home Value
Going solar can increase the property value of your home. Per the New York Times, research from the Department of Energy shows that buyers are willing to pay more for homes with rooftop solar panels.
Selling a home with solar panels installed can be advantageous even if you don't own the equipment. Under most common terms of a PPA, you have the ability to transfer the existing system to the buyer under the same agreement when selling your home. This would mean new homeowners would also enjoy significantly lower energy bills.
How To Get Started
Horizon Solar Power, southern California’s local leader in solar power energy, offers no cost for panels and free installation, on top of free quotes for prospective customers.
Ready to get some green? See How Much You Can Save With Horizon Solar Power
Photo Credit: wallheater via Flickr
