Home solar panels come with a host of benefits. They can help save you money on energy and help your state meet its renewable energy goals. Home solar panels can also add value to your home and may help it sell faster. Lastly, having panels on your roof may even keep your home a little cooler in the summer!
Save Money
Solar systems can help save you a lot if you manage your power usage wisely after going solar. To get the most savings out of your solar system, you should:
- Know how much energy your system produces
- Plan for future energy usage
- Understand how your local utility bills you for energy usage
Plan for future energy usage
When you go solar, the largest size solar system that you are allowed to install is often determined by your utility company. For example, San Diego Gas and Electric currently allow you to install up to 115% of your electrical usage. Depending on how your utility company handles solar compensation, you may earn bill credits for any energy that your system produces which you don’t consume.
Better opportunities to sell your home
According to the National Renewable Energy Laboratory (NREL), purchasing a solar power system can increase your home’s resale value by an average of 17%. The NREL also states that the value solar adds to a home depends on location. Communities, where there are a lot of eco-conscientious homeowners, will tend to produce the highest increase in home value.
Home solar can also help your home sell faster. The NREL found that homes with solar sold an average of 20% faster. Just like the amount of value solar panels can add to your home, the amount of help that solar provides when selling your home depends on how eco-conscientious the neighborhood homeowners are.