Making the switch the solar power is one of the most environmentally responsible decisions you can make. While the environmental benefits are well-documented, replacing traditional carbon-based power with solar also offers many financial benefits. Read on to discover the financial benefits switching to solar can provide.
Recoup your Costs – After your initial investment, you will save money from reduced energy bills. And, whether you have a residential or commercial solar system, eventually recoup the cost of the system.
Research indicates that when you install a solar photovoltaic (PV) system, you will recoup nearly 100 percent of your investment.
Stabilise your Energy Costs – Energy costs are never stagnant. They fluctuate regularly, which means the only way to ensure stability is by generating your own power. By switching to solar, you can lock in future energy costs (which are significantly lower than what you are currently paying) for years to come.
Utilise Free Fuel (Sunshine) – Oil extraction is a risky, messy and expensive business. By contrast, sunshine is free for all to use at any time. Although the equipment used to harness the sun’s power (solar panels) is not free, the resulting energy is. Installing solar panels enables you to produce your own energy, rather than relying on risky, environmentally unsafe methods, like oil or electricity.
Increase Your Home’s Value – With a great emphasis placed on renewable energy sources, home buyers are attracted to homes equipped with energy saving solutions, such as solar panels. According to a recent study, 85% of Australians believe solar panels add significant value to a property. And, according to the National Real Estate Appraisers (NAREA), for every dollar you save in energy costs, the value of your home increases by up to 20 times your annual energy savings.
If you are considering selling your home, speak to Euro Solar staff to figure out precisely how much a solar system will add to your home’s value.
Sell Energy Back the Grid – As rates vary widely, there is no set dollar figure you can expect to earn by selling energy to the grid. However, many home owners make upwards of $3,000 annually from a combination of Renewable Energy Certificate (RECs) sales and government incentives. Make an appointment with the skilled staff at Euro Solar to determine how much you stand to earn selling energy back to the grid.
Take Advantage of Government Incentives – There are a wide array of government and industry programs designed to help you finance solar investments. The government is offering tax breaks, energy providers are offering rebates and low-interest loans are available for solar investments. The cumulative effect is to make solar projects less expensive and more attractive on the bottom line. To discuss current government solar incentives, speak to the experienced team at Euro Solar.
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