Are you looking for a long-term investment strategy with major payoffs? Investing in solar energy could tick the box perfectly.
When you invest in solar, there is a significant initial outlay. But with 2021 bringing the highest electricity prices ever, sticking with fossil fuels isn’t cheap either. Plus, there are some key benefits of solar that non-renewables simply can’t bring.
Intrigued? Let’s take a quick look at three key benefits of investing in solar energy.
Protection Against Rising Utility Costs
The US Energy Information Administration estimates that the retail energy price will increase by 3.8% in 2022. Prices vary across the country, but all areas have been affected by rising prices. If you depend on fossil fuels for your electricity, costs are likely to continue to rise year on year.
When you invest in solar, you remove that unpredictability from the equation. Solar energy is inexhaustible and renewable. Solar panels require very little maintenance and have an expected life of at least 25 years.
For people living in solar areas, investing in solar energy is a no-brainer. Solar panels will eventually pay for themselves. Research solar by state, or ask the best solar energy companies for specifics based on where you live and your electricity usage.
It’s good to always remember that this is a long-term investment. You will not see returns immediately. But in time, the payback will be a supply of free electricity, and more.
Increase the Value of Your Home
A study has shown that investing in solar energy for your home can have a serious impact on its resale value. The average price increase for solar panels was 4.2% across the country. That’s an additional $9,274 for the median-valued American home!
More and more buyers are looking for homes with energy-efficient features. In California, all new homes have to be fitted with solar panels. Get ahead of the curve by investing in solar energy now, and reaping the rewards in the future.
Support a More Sustainable Future
To reduce the impact of climate change, we all have to make small changes in our daily lives. The cumulative effect of these changes can help to reduce CO2 emission levels and curtail rising global temperatures.
A solar investment allows you to play your part. You will reduce your carbon footprint. If you invest in solar energy for your business, you seriously boost its green credentials.
Investing in Solar Energy – A Smart Choice
Investing in solar energy for your home or business is a big decision. But there are so many outstanding long-term benefits to solar energy that would be a mistake to hold off. The time to invest is now!
Are you wondering how to invest in solar energy? Talk to local solar energy companies about what options are suitable for your locality. They can also provide information about incentives and tax breaks for investing in solar energy!
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