According to a recent survey, the United States has the second-largest market and solar energy power capacity in the world.
Individuals, companies, and organizations have realized the many advantages of solar electricity during the past few decades.
But what exactly are the benefits of solar energy? Read on to discover the top seven advantages of using solar energy.
1. Renewable and Inexhaustible
Sunlight is a limitless and renewable resource for producing electricity. In comparison, oil is taken from the earth and used to generate energy, after which it is lost.
Because the sun constantly provides solar energy, we can use its UV beams as a source of energy without experiencing any issues. Solar power is not only a renewable energy source but also a never-ending one. Solar power can be used to power residences, commercial buildings, and factories as long as the sun shines.
2. Non-Polluting to the Environment
As solar panel systems don’t pollute the environment. This is extremely vital in the climate change fight and can help clean the air. Solar systems can also lower water usage and aid in conserving this finite resource.
For processing, refining, transporting, and cooling, traditional energy consumes lots of water. Solar energy decreases this need and also helps to conserve water. As a result, using a solar system lessens the negative environmental impacts of other sources of energy as well as your own energy footprint.
3. Solar Costs Have Reduced
In recent years, the price of solar has practically halved. The cost of installing and maintaining a solar system has decreased significantly from when it was first introduced. There’s no longer a reason to spend a lot of money to save the environment and money on electricity.
Additionally, the Duke Energy Rebate (for certain customers) and local and federal incentives are still available to further sweeten the bargain on top of the low prices. As a result, solar energy is currently enabling people to produce electricity more cheaply, effectively, and cleanly than fossil fuels.
Solar power has a number of benefits over conventional energy sources, which is what Blue Raven Solar in North Carolina specializes in. Check this out for more information.
4. Helps You Save on Your Electric Bill
The financial benefits of solar energy are noticeable right away. Your recurring utility bills will reveal this. Depending on the size of your system, you can see a reduction in your electricity costs of up to 100%!
Additionally, the energy your system produces can be sold back to the grid thanks to North Carolina’s net metering policy. The policy allows solar panel owners to sell excess energy generated by their panels back to the grid, often at a premium rate.
Also, while the cost of solar will remain constant over time, utility prices continue to rise annually. Solar energy will therefore not only reduce your electric bill right away but also over the long run.
5. Home Resale Value Increases
One of the best solar benefits is the bump in home value solar panels provide. Solar power can make a property more attractive to potential buyers or renters. Studies have shown that homes with solar panels sell faster and for higher prices than homes without them.
Additionally, solar panels can also increase the marketability of a property. Many homebuyers are now looking for properties with green features, such as solar panels and energy-efficient appliances. By installing solar panels, property owners can make their properties more attractive to these buyers and potentially sell them faster and for a higher price.
6. Lower Taxes and Access to Other Incentives
One of the most significant incentives offered by North Carolina is the state’s solar tax credit. This credit provides a 35% credit for the cost of installing solar panels, up to a maximum of $10,500.
The credit can be used to offset state income tax liability, and any unused credit can be carried forward for up to five years. This tax credit significantly benefits homeowners and businesses, as it can significantly reduce the upfront cost of installing solar panels.
In addition to the state tax credit, North Carolina also offers a range of other incentives to encourage the adoption of solar energy. These incentives include grants, rebates, and other financial assistance programs.
For example, the state’s Clean Energy Technology Center offers a database of incentives and financing options for solar energy projects, including information on grants, loans, and other financial assistance programs. As more and more people recognize the benefits of solar energy, the demand for these incentives is likely to continue to grow.
7. Job Creation
The solar energy industry has been rapidly growing, creating new job opportunities and contributing to the state’s economy. In 2020, North Carolina ranked third in the US for solar energy jobs, with over 10,000 people employed in the industry. As demand for solar energy continues to increase, job opportunities in the sector are likely to grow.
Wrap-Up: Is Using Solar Energy Worth It in North Carolina?
For the majority of residents, using solar energy is a worthwhile and profitable investment. During the course of their systems’ lives, it greatly assists homeowners in saving money. But not every home is a good candidate for solar panels.
Thus, before making a decision, it’s important to analyze your property to see if it can support solar power. To determine if going solar is the best option for your home, we advise getting in touch with a reputable solar panel installation business in your neighborhood.
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