With solar design and technology consistently advancing and creating new ways to capture renewable energy, more and more homeowners and businesses are taking a closer look at solar and changing their mindset to a more positive solar outlook. Designing with solar energy in mind will increase the energy performance of a building as well as decrease the need for the cost of non-renewable energy. It will also account for the following:
First, looking at solar from a business perspective absolutely makes sense as the overall net cost for a solar install has been dramatically reduced due to the cost of solar panels, federal tax grants and credits as well as the local utility rebates that are being graciously handed out for the renewable energy patron.
Second, your solar system will retain value and add value to your home or business. By installing a renewable energy system it will result in increased property valuation. By decreasing utility bills and overall operating costs the property owner’s cash flow can accommodate higher loan-to-value ratios. Typically, a homes value is expected to increase $20,000 for every $1,000 of reduction in annual operating costs due to energy efficiency improvements.
Third, your solar system will continue to have a payback point and a Return of Investment (ROI). A typical example of the rebates and tax credits will cut a renewable energy system cost by about 40%, so a 5kW solar system purchased at $40,000, will net out at a cost of $24,000. With utility rates expected to increase 6% every year, the system will pay itself off in as little as eight years. The average ROI for a solar system is usually expected to be above 10%, for actual tangible assets. When compared to the stock market or typical savings account or CD, the return of investment is currently 2% tops.
Fourth, your solar system will continue to produce renewable energy for years to come. After, the completion of your solar investment has been paid, it will now turn itself towards your pocketbook. The renewable energy you are now capturing is creating an energy bill is either being zeroed out or offset at a substantial amount.
These are some important benefits that make a solid case that yes, solar does make sense. We believe that if you are thinking about installing a solar system, it is best to look at three different companies to compare price, products, design and service. We also encourage you to give us a call for your FREE solar estimate and look at your individual scenario to see is solar make sense for you. Solade Concepts ~ 800-991-3013.