Solar power can help you save money in a variety of ways. Understanding the exact benefits for your home will give you a good idea as to just how much green this technology can put back in your wallet.
Higher Property Values
Because solar energy helps you save on your electricity bill, it’s an investment that pays for itself many times over the lifetime of your installation. With that being said, the advantages of solar energy go well beyond electricity bill savings.
Solar energy can also enable you to receive a much higher asking price when it comes time to put your home up for sale. An average sized installation on a $500,000 property can add $20,000 or more to the retail value of your home.
That is an amount that exceeds the average cost of most residential solar installations. This means you could not only be reducing or eliminating your electricity bill, but also getting all of your investment money back when and if you sell the home.
The fact of the matter is that if you’re going to make home improvements, solar energy is pretty difficult to top. You enjoy lower electricity bills for as long as you remain in your house, and when it comes time to sell the property you get your money back thanks to your property’s higher asking price.
Related: The Benefits of Infill Homes
Saving the Environment
Let’s examine the final and possibly most valuable advantage of solar energy.
As more homes and businesses across Canada install solar panels, our nation moves farther away from fossil fuel expenditure and closer to a clean economy powered by alternative energy. The positive aspects of this transition can’t be overstated:
- Better health due to cleaner air, water, and soil
- Greater energy security due to reductions in imported fuel
- Stronger economic growth through the creation of green jobs
- Reduction of greenhouse gas emissions, the main cause of catastrophic climate change, and severe weather
Solar energy’s dividends don’t simply benefit you; they benefit anyone who enjoys having a cleaner and more sustainable environment.