For many people, owning a home or a business is a shrewd investment. Money spent now produces more money later. At present, installing solar panels is a powerful way to maximize the returns on your home or business investment. Dan Diehl, owner of Flatrock Solar, rounds up how you can use solar to make a power play.
Stop Renting Your Electricity—Own It!
With solar panels converting sunlight into electricity, your home or business is an independent “power plant” with a shrinking monthly electric bill. Producing more power than you use spins the meter backwards. Accrued credits on your account can be cashed out during dark winter months. Over time, solar energy shaves your electricity bill down to the minimum meter fee, making you the owner—not the renter—of your electrical power.
Solar Appreciation
Investing in solar not only saves money, it makes money. According to The Appraisal Journal (the largest U.S. association of real estate appraisers), every $1 shaved off annual utility expenses adds $20 in additional value to a home. If the average monthly electric bill is $100, then that’s $1200 in annual costs that solar can wipe out, thereby adding $24,000 to the home’s appraised value.
Curb Your Carbon Output
Solar curbs your use of fossil fuels like coal or natural gas. That means you are not contributing pollutants to Earth’s atmosphere that contribute to catastrophic global heating. In fact, the average solar panel system offsets the emissions of up to 10 cars per year! Solar is not just about saving money; it’s about saving the one home all humans share.
Solar energy is the cheapest source of clean, renewable electricity on Earth. The typical home in Durango sees returns on the initial investment after 8-10 years and that figure continually shrinks as better technologies produce cheaper, more powerful panels. There’s never been a better time to make a power play.
