Solar power is not what first comes to mind when creating a gift list for that special someone. But did you know that it can prove to be a better use of your money than the stock market while saving the environment?
Here are five financially sound reasons why you should consider installing solar panels.
1. Reduce Your Bills
Depending on where you live and the tariff you are on, solar energy will cut your bills by a significant amount. Even in winter, solar can generate plenty of electricity to help ease finances, especially when you’re planning to buy presents for festivities!
If you can change your usage pattern to use as much solar as possible during the day, for example, to heat water or charge an electric car, you will get the most out of your system and the biggest saving.
2. Grants and Incentives to Install
Depending on where you live, there are grants and tax-free incentives to make it cheaper to install a solar power system. These are often in the region of 30% of the total cost, which can be thousands of dollars for most.
If this has given you some idea of the initial cost, don’t forget to ask around for advice. Make sure to speak to several solar providers in your area to ensure you are getting the most value.
3. Get Paid for Generating Home Solar Power
Getting paid is an exciting feature, especially if you don’t use much electricity. Time-of-use tariffs rely on usage patterns, so if you generate more than you are using, you will get paid for it!
You will probably hear that there is a best-facing direction for your solar, which in the USA is South. But even the least productive roof positions can generate more than you might think, so there are even more gains available.
4. Reinvest Your Energy Savings
You might find you need to use your savings for something urgent. But if possible, why not spend that money on saving more money?
You could always expand your solar-powered home by investing in additional solar panels, as mentioned above. Or other energy-saving resources such as a heat pump reduce gas usage, which can be powered by the energy you generate.
The savings soon add up!
5. Increase the Value of Your Home
With the recoup costs lasting a few years, you probably aren’t thinking of moving house just yet. When the time comes, you will be safe knowing that energy-efficient housing is in high demand.
New legislation worldwide means that eventually, everyone will be driving electric cars and heating, so moving into a home with solar power already installed is a benefit to any prospective owner.
Solar Power Saves You Money
Spending money can be the best way to save money.
If you can make your outlay back in a few years, you will be in profit with home solar power. You can live more comfortably, knowing that you and your loved one save money and the environment.
What gift is next on the list? Get saving and check out the rest of our content for some ideas!