In this article, we’re going to look at twelve immediate benefits of getting solar panels now. If you’ve been on the fence, or even anywhere near it, this should clear up some confusion, answer your questions, and inform your decision so that you know you’re doing the right thing, whether you choose to go solar or not.
Here’s a quick story to sum it all up:
You need to eat, right? Imagine you invest a little money upfront to build some planter boxes out in your yard and plant a garden. You toss in a few seeds, and over time, food grows. When you’re hungry, you can collect food from your garden, rather than going to the store. While your neighbor is complaining about the outrageous price of milk and bread, you’re collecting your own food from your own garden – it doesn’t cost you anymore when inflation strikes again.
Getting solar for your home is like planting a clean energy garden on your roof. You get to keep collecting power, no matter how much the price of power from the utility company goes up.
What Does Solar Power Have To Do With Our Current Economy and Inflation?
Inflation is a given, no matter what our economy looks like.
On average, the US inflation rate has jumped by 3.17% per year since 1914. This has been a consistent average, though it fluctuates wildly from year to year. For instance, due to many factors, our inflation rate jumped up to a historic 8.58% in 2022! That means that what used to cost only $1.00 now costs $1.08. It might not sound like a big jump until you see your energy bills.
What used to cost $125 per month now suddenly costs you $135 – an extra $10 per month, or an extra $120 per year.
When that happens every single year, it really adds up. The sticker shock might hit you when you look at an old power bill from 20 years ago and realize you were spending a lot less money!
So why does solar stay the same price?
Solar energy can produce the same amount of power as what you would use from your utility company. Except you pay a fixed price for your solar. Many people take out a bank loan, where they pay a low fixed rate until their solar is paid off. Zero inflation. You don’t owe the bank any extra money when inflation happens and other people’s utility rates are increasing.
Saving Money and Adding Value to Your Home
If you know you’re going to be using power, and you know that it’s going to be a sunk cost every single month that continues to increase, then it makes sense to swap out that high utility bill for a lower monthly installment payment on your solar panels. You might pay a similar amount for the first few years, but soon you’re going to see your neighbors’ bills skyrocket while you’re still paying your lower fixed rate.
That’s only the start of the savings.
Making monthly payments on your solar loan is like writing a check to yourself instead of the power company and then sticking it to your roof. Your house increases in value, and once the loan is paid off, you get to enjoy clean energy for the duration of the panels – which are generally warrantied to 25 years but have been known to keep producing energy for significantly longer.
If you sell, solar homes are more desirable because anyone moving in knows they’re going to be getting free power.
11 Immediate Benefits Of Getting Solar Power Now
1. IT’S A BILL YOU’RE ALREADY PAYING
Some people think that if they choose not to invest in solar, they’re somehow saving themselves money or reducing their risk – since they don’t have an accurate gauge of what the numbers look like. The truth is, you’re already paying your power bill every month. Unless you tell your company to shut the power off, you’re going to have to continue to pay for power for the rest of your life. With solar, you simply pay a fixed rate on your solar loan, while your neighbors who chose not to go solar get hit with energy inflation costs.
2. YOU PAY LESS MONEY OVER TIME
When you look at rising electricity costs, your average utility bill over the next 20 years could be 400%-500% more than what you invest in solar now. Plus, you can take out a 20-year solar loan to lock in a low monthly rate that’s going to consistently be less per month than you would already be paying. At the end of that 20 years, you can stop making payments and just enjoy your renewable energy.
3. GREAT RETURN ON YOUR INVESTMENT
Your friend might have had some great tips for the stock market or cryptocurrency, but when the markets tank (and they do statistically every few years), then you end up losing value on your investment. A clear winning strategy is to take something that has utility, like your own power, and invest in that. Your solar arrays typically have a payback period of 3-6 years, and the rest is all high return on your investment.
4. STABLE ENERGY COSTS
We had a rough year for inflation in 2022. But the cost of energy goes up every year, having increased over 70% in the last 10 years alone. Where will it be in another 10 years as resources become more scarce and populations increase? More expensive, for sure. But solar loans allow you to pay a lower rate consistently, with a nice, predictable line item for your budget – no more than it was 10 years ago.
5. INCREASED HOME VALUE
According to The American Association of Appraisers, a solar PV array has more desirability for buyers, fetches you a higher price on the marketplace, and retains better resale values than similar homes without solar panels. Whether you’re staying in your home and enjoying clean energy for yourself or passing on the gift to the next tenant, it’s the kind of karma that shows up in your bank account.
6. TAX BREAKS
Your local and federal governments literally endorse solar by giving you tax breaks. They need help catching up with increasing populations, growing power demand, overly crowded power lines, and new regulations that require clean energy. They will pay for a portion of your solar panels depending on the size and how much power they’re capable of generating.
7. FLEXIBLE FINANCING
If you have decent credit, you can find one of many loan providers to get you a good rate for the solar system that you need. Flexible financing means getting you the solar now, with little to no up-front costs. No available capital? No problem. You can still invest using a financing solution that allows you to own a system outright, lease one for a fixed number of years, or even purchase power from an array. Anyone who needs power is likely to find a solution that’s perfect for them.
8. THE CLOCK IS TICKING FOR YOUR INCENTIVES
We’ve been facing a power crisis in the US for years now. When residential solar became a viable option, local and federal governments sprang into action to offer you big tax breaks to help offset the costs of solar. Unfortunately, the more people claim the incentives, the lower the incentives become. That means the sooner you act, the more you can get free money for your solar that you own – but you have to claim it before it’s reduced or disappears entirely!
9. THE CLOCK IS TICKING FOR THE WORLD
We all talk about wanting a reduced carbon footprint, but most of us aren’t willing to give up bacon. Life doesn’t have to be about suffering. You can give up on your power company that’s still burning fossil fuels for clean, renewable solar energy from your own panels on your own home. Especially for anyone passing their legacy on to kids, the world you’re giving them could be a more sustainable place – and it all starts with your decision to make a difference.
10. ONE STEP AHEAD OF THE FUTURE
As we see the rise of hybrid and electric vehicles, we can forecast that smart people in charge of cool gadgets will increasingly launch new things that we don’t even know about yet. Are people already charging their cars with their solar panels? Yes. But getting solar installed now puts you ahead of the pack if, for some reason, we end up needing more power for the really nice futuristic tech – like hoverboards that actually fly.
11. EASY TO MAINTAIN
Sometimes we get really lofty when we think about a product, like solar up on your roof. But how do you maintain them? Fortunately, you don’t have to climb up on your roof to clean them with your kitchen sponge. Most panels maintain themselves at all times. If you live in an area that’s particularly prone to rain, that will clean them off nicely – no need to polish afterward. You can also work with a solar developer to help you reach maximum efficiency if desired. For the most part, you just let the panels lie there and soak up the sun, effortlessly converting it to electricity.
Start Your Solar Journey Working With Titanium Solar
Once you see how many benefits there are of getting solar for your home, it’s a no-brainer.
But what’s the best solar installation company to go with? It’s the one that you trust to do the job right the first time, with great reviews and experience on other people’s solar projects. The leader of the pack will stick around for the long haul and honor any warranties and agreements they make with you. It’s also the company with outstanding customer service, from moment one, where a sales representative offers you a free in-person inspection and answers any and all of your questions about solar to the follow-up team that checks in with you to make sure you’re loving your new solar.
There are solar companies out there that are a perfect fit for you.
At Titanium Solar, we value your experience as much as you’re going to value having solar installed in your home. For us, the installation process is so much more than a function of necessity, it’s an opportunity to find out why you wanted solar in the first place, collaborate on coming up with a system design that you love, and make sure that you love the process of getting renewable energy as much as you love saving money once you have it installed.
You can save money, dodge inflation, increase the value of your home, be good to the planet, and reduce your carbon footprint – all by going solar.
But is it worth it for you?
Yes! Solar is the clear winner in every scenario, no matter how you run the numbers. It always makes sense to pay less for your power bill. Want to find out how much money you can save?
Set up a free customized solar installation cost analysis with a qualified representative. Click here to make an appointment.