Benefits of solar energy in residential buildings

Solar panels have gained visibility in neighborhoods across the country. Where rooftop solar panels were once rare, today a walk or drive through a community is sure to reveal that many homeowners have gone solar. You may be wondering if it’s worth investing in.

Solar panels obtain energy from the sun using photovoltaic cells. These semiconductor materials absorb photons from the sun, and the photons release electrons from the atoms of the semiconductor material. According to Forbes, the flow of these electrons within the cell creates an electric current that is directed to the circuits. Solar panels can be placed anywhere there is plenty of sunlight, such as open fields. In residential areas, they are most often placed on roofs to provide as much sunlight as possible.

Although installing solar panels on your roof can impact the aesthetics of your home, many people find that the benefits far outweigh such problems. Consider these benefits of going solar.

• Save money: One of the benefits of solar energy is the ability to save money on your monthly utility bills. Electricity prices seem to increase year by year. The Solar Energy Industry Association says that over the past decade, the cost of solar power has fallen by more than 70 percent compared to the cost of electricity, which has risen by about five percent. Over the life of a solar panel, which is typically 25 to 30 years, you can save between $25,500 and $33,000 in electricity.

• More affordable: As noted, the cost of installing solar panels continues to drop. Investopedia reports that the initial cost of a residential solar installation ranges from $3,500 to $16,000, depending on the size of the system. Energy.gov reports that the United States has extended the federal residential solar tax credit, and through January 1, 2033, you can save 30% of your tax credit on your solar system costs. There are plenty of financing options to make solar energy more affordable.

• Increased home value: According to the National Renewable Energy Laboratory, homeowners can increase the value of their homes by $20 for every dollar they save on their electricity bills from solar energy. Homes equipped with solar panels sell for 4% more than those without them.

• Get your money back: Solar incentives in some areas can enable homeowners to not only generate profits, but also generate savings on their electricity bills. Solar renewable energy credits offset the electricity produced by your solar panel system.

• Avoid power outages: Severe storms or even accidents that affect power lines can cause you to lose traditional power for hours. Battery storage combined with solar power can be beneficial in the event of power outages and eliminates the need to purchase a backup generator.

• Protect the planet: Burning fossil fuels to produce energy contributes to carbon dioxide emissions. Switching to solar energy can reduce carbon emissions and help prevent air and water pollution.

Solar panels are becoming more and more prominent in residential areas, thanks in large part to the many benefits that solar panels provide.