According to the US Energy Information Administration, small-scale solar installation went up 23% from 2020 to 2021. This involved a record number of solar panels being shipped into the United States!
That’s because a huge topic of discussion recently has been the effects of carbon emissions on our environment. People are responding by updating their homes and vacation homes with solar panels!
In addition to using clean, solar energy, solar panels come with an assortment of money-saving bonuses. You’re missing out on ways you could be saving and earning money by installing solar panels on your vacation home!
From energy costs to home value, we’ve got the details of how solar panels affect your house. Read along below to learn seven reasons to consider a residential solar system.
1. Save Money on Energy Costs
Installing solar panels helps with your vacation home energy costs. While savings vary based on different factors, you’ll still see a reduction in monthly utility bills.
If your vacation home is in proximity to other homes, you can even sell solar power to your neighbors. It may seem like a hefty cost upfront to pay for solar panels, but they pay themselves off with what you save in monthly energy bills.
Since you’re not on someone else’s energy, you’re also not beholden to energy spikes and increases. You have your own source, and the sun can’t be taxed.
2. Tax Incentives
Currently, the government has several tax incentives for those who choose to install a residential solar system. The Investment Tax Credit applies to the gross cost and covers 30% of the cost through 2032.
That’s the highest tax credit the federal government has offered. There hasn’t been a better time to go solar!
To receive this credit, your residential solar system has to be purchased from a solar company. It can’t be a leased system.3. Off the Grid
Many vacation homes benefit from the ability to go completely off the grid due to solar power. Beach vacation homes might have a hurricane now and then.
Hurricanes have been known to knock out power for days or weeks. But, vacation homes that have a solar system don’t have to fear being without power.
Even homes that are located in colder areas have issues with freezing weather and power outages. Solar batteries are perfect for emergency situations like this.
In scenarios like these, there may not be enough sunlight to continue powering the panels. That’s when solar batteries come in handy.
One of these standard batteries can hold up to five days’ worth of energy. Multiple batteries make it possible to have power for weeks.
Solar panels are designed specifically to survive many kinds of inclement weather. Whatever the natural disaster, they’re made to keep working.
That’s a massive bonus for a vacation home. It offers a lot of peace of mind.
4. Higher Home Value
The cost of the solar system automatically drives the vacation home value up. The National Renewable Energy Laboratory stated that every dollar saved by solar panels increases the value of the house by $20.
Depending on the size of the home and the solar system, the average value added to a home by solar power is $15,000. It’s an investment on which there is an immediate and delayed return.
It’s also been proven that homes with solar panels sell 20% faster than homes without. They’re in very high demand.
5. Aids the Environment
Going solar is a step in the right direction toward going green. Solar power is a natural resource that helps lower greenhouse gas emissions.
Solar energy is clean energy that doesn’t release carbon dioxide like fossil fuels do. Furthermore, solar power doesn’t release any dangerous pollutants like sulfur and nitrogen oxides.
If you rent your vacation home out, many people see that as an incentive to choose your home. They want to make a difference not only where they live but in other parts of the country or world as well!
Some people may even pay extra for it. So, not only are you helping the environment, but you’re also adding extra value to your rental.
6. Long Lifespan
Solar panels have an incredible lifespan and warranty. The normal warranty most companies offer is 25 years.
This insurance coverage includes the “acts of God” we described earlier. You don’t need to worry about your investment being washed away.
Amazingly, the technology for solar panels is so great that many installed 50 years ago are still going strong. The warranty may not be necessary, but it’s still there.
We may find that solar systems outlive us!
7. Get Ahead of the Curve
What we’re seeing right now are incentives to install solar panels. One day it might not be a choice anymore.
We very well may see a full-scale transition to solar power. The smartest thing to do is transition now when there are tax incentives to do so!
By installing solar panels on your home now, you’re taking advantage of the cost reduction the government is offering. The topic of our environment isn’t going away any time soon.
You’re ahead of the trend and saving money!
Vacation Homes Go Solar
There really hasn’t been a better time for vacation homes to go solar. Take advantage of all the incentives the government has to offer because they won’t be around forever.
Only recently did Biden extend the act that was set to end in 2022. Though it’s supposed to last until 2032, you never really know how much longer these incentives stay.
Go solar now while you’re saving money! For more information like this, keep reading our blog section.