In the past, solar energy simply wasn’t practical for the majority of consumers, as it was too expensive. In today’s market, solar panels are quickly becoming a great investment for the average person. Here are a few reasons that you might want to invest in solar panels in 2013.
One of the most obvious reason that you may want to invest in solar panels and 2013 is so that you can get great returns on your investment. When you put money into solar panels, it will undoubtedly be a pretty big initial investment. However, the payback period with solar has been lowered tremendously in the last few years. In some instances, the payback period for a complete solar power system is five years or less. This means that after the payback period has been reached, then you are getting free electricity. If you add up all of the electric bills that you would be paying over the remainder of the life of the system, then it amounts to a very large return on investment. Most of the time, you can get a return on investment of somewhere between 100-300%, depending on the circumstances.
Avoid Uncertainty With Electric Bill
One of the biggest problems that people have with their electric bill is that it is uncertain. There are no guarantees that you’re going to be able to afford your electric bill in a few years. In fact, President Obama has said that utility rates are going to skyrocket in order to get rid of the pollution that comes with coal power generation. If you get solar, you won’t have to worry about any uncertainty in your electric bill, as your power is going to be taken care of. This helps you get a little bit more certainty in your financial situation, so that you don’t have to worry about increasing prices.
In many areas, you can take advantage of some amazing incentives that will help offset much of the cost that comes with going solar. For instance, many utility companies have rebates that they’ll give you when you connect to solar. You can also take advantage of federal and state tax incentives that will offset the amount of money that you would normally have to pay in taxes. Some areas also have feed-in tariffs that allow you to make so much per kilowatt hour that you pump into the grid.
With the falling prices of solar panels and the availability of great incentives, solar is a lot more affordable than it used to be. If you like the idea of producing your own power, helping the planet, and making a good return on your investment, solar is the way to go.
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Peter Wendt is a writer, researcher and environmentally-concerned citizen from Austin, Texas. He recently employed the help of Native, Inc. to install solar panels on his roof and has already scheduled another assessment for a geothermal heat pump.