How does solar work? You likely hear a lot of buzz surrounding the solar energy world, so let’s break down the basics of how solar is used to save you money.
1. Savings on Your Electric Bill
Switching to solar can drastically improve the energy efficiency of your home. Now you could worry about using less electricity around your home to save money, but who wants to do that? Solar panels alleviate the hassle by providing a clean, simple and effective way of saving money.
By collecting energy directly from the sun, your home will use significantly less traditional electricity. You’ll quickly notice a change in your electric bill after installing solar panels. If you qualify (and only 2/3 homes do), you can cut your electric bill down by 50% or more.
2. Increased Home Value
When you have solar panels installed, the value of your home increases immediately. The money you’ve saved with solar will be directly transferred to the new homeowner if you ever decide to move. Think of it like adding a pool to your home; same concept!
Since the average lifespan of quality panels is around 25 years, there’s no need to worry about the equipment in the long run. Rhythm uses quality, American-made solar panels built for durability. Plus, they look good which is always a plus!
3. Environmental Impact
Solar energy has emerged as a viable way to reduce the environmental impact. By using solar panels for energy, you are effectively reducing the amount of resources needed to produce standard electricity. Thinking long-term, the effect greenhouse gasses have on our climate can be relieved by switching some sources of energy to solar. Why generate electricity when we have one giant ball of power to use in the sky?
4. Technological Advances
In a world where technology is changing every minute, you want to be up-to-date with the growing futuristic landscape. Solar is no different; it’s constantly changing and evolving for increased efficiency. Solar panels, on average, range from 15% to 25% efficiency. As new tech is developed, these numbers can easily top 35% to 40%. It’s an exciting time to invest in solar and save on electricity.
5. Incentives for Switching to Solar
Jumping into the solar world opens up many incentives for you to take advantage of. In 2022, a home with solar is eligible for 26% tax credit, but that will reduce to 22% in 2023. Federal incentives apply to both residential and commercial properties with solar.
If you live in the state of New Jersey, the state incentives are even better. Solar panels are sales tax exempt, so you save 7% right off the bat. In addition, homeowners will pay no additional property taxes on panels and qualify for the TREC program. Visit https://definesolar.com/incentives/new-jersey/ for more details.
