Enjoy a High ROI with Solar Power
5 Ways You Get Returns
If you’ve considered going solar, you probably have this question in mind: How much am I going to save? Solar technology is known to generate between 10% and 30% as an annual return. The average customer can earn the highest ROI through solar power by receiving free electricity throughout their solar system’s lifespan of over 25 years. There are several ways to regain the initial investment:
Since you’ll use the electricity your panels generate, you’ll reduce your dependency on your local electricity grid—thus, lowering your bills. The more energy you use, the more you’ll save with solar. A negative electricity bill may become a monthly reality.
There are numerous tax programs and rebates that encourage the use of clean energy. Combining federal, state, and county specific incentives can increase your savings dramatically! It eventually leads to lower upfront costs and a shorter payback period.
Solar renewable energy certificates (SRECs) can provide sizable income to system owners that live in areas with SREC markets. One SREC is earned for every 1000 kWhs produced through solar technology. An average PV system could generate around two to six SRECs per year. These certificates can be sold to utility companies and can be worth as much as $300 each.
Several surveys have shown that consumers of this generation prefer brands and companies with a ‘green reputation.’ Apparently, most millennials would be willing to pay extra for sustainable practices. This means that businesses who switch to solar could attract more customers and increase their sales.
How sunny is it where you are? The amount of sun your property receives will affect your output level.
High Property Resale Value:
Multiple studies have revealed that installing solar panels can increase property value. According to the National Renewable Energy Laboratory, every $1 saved in electricity from your solar system adds $20 to your home’s total value. Of course, it may vary depending on the location of the home and the size of the installation.
The ROI from solar panel installation may be different from the returns earned through stocks and bonds. However, solar power offers superior financial benefits that make it an essential inclusion in your overall investment portfolio. At Sun Path Electric, we can help you maximize your annual gains! Sign up for our Free Sun Analysis and get a true cost quote for your home.