The demand for solar panels is on the rise. An increasing number of homeowners are installing solar panels on their residential properties. But there are some who are yet to jump on to the bandwagon. If you, too, are one of those who haven’t thought of installing a solar panel system on their property then this post is meant for you. In this post, we give five amazing benefits of installing solar panels for homes. Let’s take a quick look.
Reduced Energy Bills
One of the primary reasons why people go solar is because it helps them save on their energy bills. Considering the rising energy prices, it makes economic sense to install solar panels for homes that generate free electricity using the sun’s energy. And if your local grid allows net-metering, you can transfer the excess energy produced by your solar panels to the grid and have those units adjusted in your monthly energy bills.
The increasing carbon footprint is a major cause of concern across the globe. Governments across the world are trying to tackle this menace by encouraging people to switch to renewable sources of energy like solar, wind, geothermal and geothermal that do not pollute the environment like the fossil-fuel-based energy-generating local grids. The Indian government is even offering subsidies to those who are installing solar panels on their property. So, if you care for the environment and want to take benefit of the government subsidies, you should consider installing a solar panel system.
Trends suggest that properties with pre-installed solar panel systems get better valuations as compared to plain vanilla properties. The reason is that these properties don’t just allow great savings on electricity bills but they also relieve buyers of the unnecessary hassles of solar panel installation. Also, properties with solar panel systems fetch higher rents as compared to the ones that rely only on the local grid for fulfilling their power requirements.
If you are thinking of solar panel installation as a high investment project, let us tell you that most property owners are able to recover the cost of their solar panel systems within the first few years itself (mostly 4-5 years). And once they break even the savings that they make for the remaining years is the return that they make on their initial investment. So let’s say if you install a solar panel system with a warranty of 25 years and are able to recover your initial investment cost in the first 5 years, the savings you make during the next 20 years would be a pure return on investment.
Pro Tip – Keep in mind the rates at which the electricity rates are rising.
Scheduled power cuts are a major concern, especially in Tier 2, Tier 3 cities, and rural areas. If you are facing similar issues in your area then going solar is a good way to reduce dependence on your local grid. Also, there are far-off areas, in our country, where there is no grid supply. Solar panels for homes are a boon for such areas. In fact, now that solar is available in these areas one can even consider buying second homes at reasonable prices in these areas.
Ready to take the plunge?
We hope you found the post useful and will consider installing a solar panel system on your property. Also, we recommend that once you are ready to go solar, you should check out the solar panels range from Luminous India.