By: Viraj Shah

With climate experts warning the public to expect more incidents of record-breaking heat during the upcoming months, many property owners are starting to wonder how they might beat the heat, protect the environment, and save money on cooling and electricity bills. There’s never been a better time to explore solar power generation technologies, especially given that gas power requires dependence on fossil fuels that exacerbate climate problems and many hydroelectric options require an ever-dwindling freshwater supply.

Solar panels can save you money while keeping your home or business powered and cool in an environmentally safer way that benefits everyone. Read on to learn more about why you should install solar power technologies…

Deep Discounts

Solar panel manufacturers and state and federal government agencies offer incentives to anyone who invests in solar power generation technologies. Some manufacturers and utility companies provide you with a rebate after you invest. Until 2032, you can receive a tax credit of 30% of the total installation costs. Many states offer rebates and tax credits as well. These money-saving opportunities also reduce the pull of electricity from traditional power grids that have become overtaxed by heat waves. 

Additionally, insurance companies consider solar panels a “green” technology that increases home value. They offer a policy premium discount, especially when you combine the system with a whole-home backup battery that stores energy for nighttime power and cold and overcast days. 

Lower Overhead

When you generate power, you become less reliant on grid power from utility companies that often rely on environmentally unfriendly sources. When you don’t rely on a local grid, you can lower your utility bills by approximately $1,200 to $1,800 annually. With partial reliance, you can expect one-third to one-half of the amount. And, even if you’re partially reliant, you can save money any time a utility company raises their rates by simply relying on solar power generation a little more to offset the difference.

Yet, when you invest in solar panels, you’re choosing technology with a lifespan between 20 and 30 years. If you also invest in a backup battery, that technology has a lifespan between 10 and 20 years. The tools require little maintenance and upkeep over time, and you can use the savings from on-site power generation to help with those costs.

Surplus Credit

In Arizona, solar panels are a passive income source via surplus bill credits. How does it work? When you rely partially on the grid, you transfer any excess electricity you generate to your traditional electric supplier via a contract known as a “net billing” plan and then receive a credit equal to a percentage of the retail rate on your next bill.

Of course, you don’t have to use net billing to save money. You can also reduce your bill by investing in and using a backup battery that aims you’ll use the grid connection and associated electricity less often.

Resale Value

Solar panels increase your property’s value. You can raise your sales price by listing your solar panels and power-generation system as a long-term savings tool because any buy will save money on electric costs. The panels and system also safeguard them against blackouts and brownouts from unstoppable heat waves that will overtax the local grid.

Lastly, most people seeking to buy a home or business are willing to pay more for a property that has solar power options because you’ve completed the hard work for them. They know they won’t have to deal with installation costs and related disruptions or become stuck relying entirely on an electric company that might cut the power at any time.

Published by: Holy Minoza