The benefits of solar photovoltaic or PV systems range from generating your own electricity to getting an investment return through feed-in-tariff that could be greater than just investing in high-risk investment vehicles or leaving your money in the bank. The following are some of the benefits of using solar PV systems.
Energy costs continue to increase every year. As a matter of fact, many parts of the country see an increase in electricity price on at least 10 percent average per year. However, you can protect your household from increasing utility costs. You can keep the savings in your pocket when you invest in your own house and in a healthy as well as clean future for your kids.
The prices of energy continue to go up. Investing in solar PV systems, which offers you electricity, guarantee a return of your investment. For instance, you could choose to spend $10,000 on a solar system which would produce more than $45,000 worth of electricity for your household over the next ten years. Many solar PV systems are made with a replacement warranty of 25 years. In case any of the parts quit functioning in the next twenty-five years, expect a new part to be shipped to you without extra charge.
Increase Property Value
Real estate professionals find that businesses and homes with solar PV systems installed tend to sell faster and for more money than similar homes without the systems. Appraisal professionals claim that for every dollar in savings offered by the system, consumers can see an increased property value of up to $20. Thus, when your solar PV system can produce $100 every month in electricity, you are likely to see a $20,000 property value increase.
Benefit from Incentives
Incentives offered by state, local, federal and power company programs is likely to decrease the upfront costs by up to 85 percent. Great companies offering solar power solutions will find incentives available for their project. They process the applications and ensure all the proper paperwork gets turned in on a timely basis so that you can get any possible incentive for the project.
Choosing to install and use renewable, clean and sustainable energy in your business or house shows your awareness of the effect of solar PV systems on the planet. In fact this also shows that you are doing your part in order to help in saving the world. A lot of businesses find that their employees, customers and investors choose to do business with companies which make use of renewable energy.
Minimize Carbon Footprint
Solar systems which produce $100 every month in electricity is expected to offset 73, 200 pounds of carbon dioxide in ten years. This is the equivalent of taking fourteen vehicles off the road, ceasing the consumption of 168 barrels of oil and planting 1, 872 trees. This is a big amount of carbon reduction. Definitely, this is helpful in preventing the negative impacts of pollution and climate change that resulted from the burning of fossil fuels.
Johan is an environmentalist. He advocates the use of solar power solutions over alternatives that are not friendly to the environment.