Sure, installing a solar energy system costs money, but like they say, you’ve got to spend money to make money.
According to a recent survey by EnergySage, an online solar information marketplace backed by the U.S. Department of Energy, 40 percent of consumers think that a solar energy system is a good investment, and another 40 percent aren’t sure if investing in photovoltaic power makes good financial sense.
We’d like to change that perception — we want you to know why switching to photovoltaic power is a smart financial move.
No. 1: A Solar Energy System Provides Decades of Returns
Photovoltaic systems can produce electricity for decades — 20 to 40 years or more. Rather than sending a check to the utility company every month, you can get free power from the sun. It’s like putting money back in your pocket!
No. 2: Solar Energy System Returns Are Tax-Free
The returns you receive from your PV energy system aren’t income — they’re savings. As such, they aren’t subject to state or federal taxes. According to EnergySage, your solar power return on investment could represent anywhere from 20 to 35 percent more cash back in the bank than what you would receive from an investment in a taxable mutual fund with a comparable rate of return.
No. 3: Returns from a Solar Array Improve Every Year
How many investments return more every year? Photovoltaic power is one of the few that is virtually guaranteed to improve. Electricity prices have been increasing each year as demand falls, and each time they do, your annual returns rise.
No. 4: Installing a Solar Power System Boosts Real Estate Value
A property powered by a PV panel system is attractive to buyers because it costs less to operate. Also, you don’t need to hold onto your home or business building for a long time to benefit from the real estate boost. Once you make the switch to photovoltaic power, your property will sell faster, fetching a significantly higher price.
Given all these advantages — and the fact that the federal, state and local tax credits, rebates and grants can reduce your investment costs by up to half — an investment in solar power can pay off for any homeowner or business.
For more details on the financial benefits of installing a residential or commercial solar system, turn to the professional team at Intermountain Wind & Solar. As the leading PV contractor in the Intermountain West for nearly a decade, we have the expertise to help you make a sound decision about investing in photovoltaic power.
Intermountain Wind & Solar offers free, no-hassle consultations and photovoltaic installation estimates to homeowners and businesses throughout Idaho, Nevada, Utah, Colorado and Wyoming. Contact us today to schedule a solar energy system consultation.