You don’t have to be an expert to move forward with implementing solar energy, but it does help to know some things, especially if you’ve been on the fence about whether or not solar energy is the right choice for your household.
In this post, we're cutting right to the chase and giving you the five facts that people most commonly have questions about.
1. It’s True - Solar Panels Increase Property Value
Many people find it hard to believe that something like solar panels could do much to improve property value. After all, they don’t exactly look pretty.
However, as more and more people are becoming conscious of the implementations that fossil fuels are having on the health of the environment, they’re searching for ways to have a positive impact. By adding a solar energy system to your home, you are one step ahead of the game.
On average, solar panels add about 4% to overall property value. When we're talking about average, median-priced homes, that percentage adds up quick. Depending on where you fall along the scale, you could add between $9,000 and $20,000 to your asking price.
2. Solar Panels Will Save You Money
If you’re looking to save costs and cut down your electric bill, solar energy is one way to do so. In most cases, solar panels are capable of producing more than enough energy for your home or business - which often means that you won’t have to purchase any energy from the grid.
However, even if you do end up having to purchase energy from the grid, the amount will be far less than what you were purchasing before. What typically happens with solar energy systems is that in some months, they overproduce (earning you money) while in other months they may slightly underproduce.
3. Solar Energy Helps the Environment
Did you know that installing solar panels has the equivalent impact of planting 150 trees per year for every year that they are installed? With that information in mind, it’s clear to see just how powerful solar energy is when it comes to reducing your carbon footprint and working toward improving the health of the planet.
4. There are Both State and Federal Tax Incentives
Solar energy initiatives can save you quite a bit on your taxes. Did you know that if you install solar panels before the end of 2019, you can get a federal tax credit for up to 30% of your installation and equipment costs? After the year 2019 is over, the amount of credit that you will receive goes down, but the opportunity to save will still remain.
The state of Maryland has its own credits like the Renewable Energy Credit (REC) that you can also apply to your taxes if you make the switch.
5. They’re Worth it Even in Cooler Climates
There used to be a lot of myths about how solar panels were only worth the investment in warmer climates. As modern research shows us, that is simply not the case. In fact, they actually perform better in cooler breezy climates (which makes them perfect for states like Maryland).
If the facts presented in this post have further piqued your interest in moving forward with solar energy, we have a ton of information available on our website.
Specifically, you’ll want to check out this comprehensive FAQs guide.