Go solar: Benefits of solar energy

THERE are many reasons why homeowners go solar, but improving the environment and cutting energy costs are the most common. Here are the top eight reasons why solar energy is good for your home and more popular than ever in many countries.

• Drastically reduce or even eliminate your electric bills

Whether you are a homeowner, business, or nonprofit organisation, electricity costs can make up a large portion of your monthly expenses. With a solar panel system, you will generate free power for your system’s entire 25+ year life cycle.

• Earn a great return on your investment

Solar panels are not an expense — they are one of the best ways to invest, with returns rivalling those of more traditional investments like stocks and bonds.

• Protection against rising energy costs

One of the most clear-cut benefits of solar panels is the ability to hedge energy costs. In the past ten years, residential electricity prices have gone up by an average of three percent annually. By investing in a solar energy system now, you can fix your electricity rate and protect yourself against unpredictable increases in electricity costs.

• Increase your property value

Multiple studies have established that homes equipped with solar energy systems have higher property values and sell more quickly than non-solar homes.

• Boost energy independence

The sun is a near-infinite source of energy and a key component of achieving energy independence. By increasing our capacity to generate electricity from the sun, we can also insulate our country from price fluctuations in global energy markets.

• Create jobs and help local economy

According to The Solar Foundation, the solar industry adds jobs many times faster than the overall economy. This growth is expected to continue. Because solar-related jobs tend to be higher paying and cannot be out-sourced, they are a significant contributor to the economy.

• Protect the environment

Solar is a great way to reduce your carbon footprint. Buildings are responsible for carbon emissions in the country and going solar can significantly decrease that number. A typical residential solar panel system will eliminate three to four tons of carbon emissions each year — the equivalent of planting over 100 trees annually.

• Demonstrate your commitment to sustainability

Sustainability and corporate social responsibility are important components of an organisation’s culture and values. They also produce bottom line results. Increasingly, consumers and communities are recognising and rewarding businesses that choose to operate responsibly. Businesses are finding that “green” credentials are a powerful driver of consumer purchasing decisions, creating goodwill and improving business results.