The 5 Top Financial Benefits of DIY Home Solar Power Posted on 03 May 07:30
Do you think DIY home solar power is all about saving the environment? Think again.
While some Americans want to be environmentally greener these days, the primary reason most people are installing their own photovoltaic systems is due to a different form of green.
What homeowners really want is to save money, and do-it-yourself solar energy offers five major impressive financial benefits.
No. 1: DIY Solar Power Costs Significantly Less than Professional PV Installation
Installing your own solar energy system keeps more money in your pocket, because you avoid paying the hefty labor fees and additional expenses of hiring professional PV contractors.
Once you subtract the state, federal and local tax credits, rebates and grants you receive for installing a photovoltaic array, most customers end up paying (on average) about half the cost of a professionally installed system.
No. 2: DIY Solar Power Reduces or Eliminates Your Electricity Bills
According to the U.S. Energy Information Administration, the average home electricity bill in 2015 was roughly $114 per month. In many parts of the country most amenable to solar energy, or those with larger homes, that figure may be significantly higher.
If you install a DIY solar array, you can drastically reduce or even eliminate that monthly expense. Over the lifetime of your system, you’ll save tens of thousands of dollars by not having to pay the utility company.
No. 3: DIY Home Solar Power Stabilizes Energy Costs
Electric utility rates have been on the rise for many years, and they are projected to take a big jump next year. In fact, the rate increase for 2018 is expected to be more than three times higher than it has been (on average) for the past two years.
By choosing do-it-yourself photovoltaic power, you will permanently stabilize your energy costs, as electricity from the sun is free. And each time the utility company boosts its rates, your savings will increase accordingly.
No. 4: DIY Solar Energy Boosts Home Value
If you’re like most Americans, you probably won’t live in your home for long. Although the average length of home ownership in 2013 was 13 years, the latest data reflects an average as low as five years. When you decide to sell, whenever that may be, you will see another financial advantage of owning a solar energy system.
The research overwhelmingly proves that home buyers pay more for homes with solar panels (as long as the system is owned, NOT leased!) than for similar properties without photovoltaic power. In addition, solar-powered homes sell faster.
With added home and market value, a photovoltaic system practically pays for itself.
No. 5: DIY Home Solar Power Systems Are Eligible for Net Metering
In most states, local utility companies are required to follow net metering guidelines. In other words, they must compensate consumers for excess electricity they send to the utility grid.
Do-it-yourself photovoltaic energy systems are fully eligible for this potentially lucrative policy. Thanks to net metering, homeowners can get credit for their extra solar electricity. This measure helps many to get rid of their monthly bills and it reduces the time required for system payoff.
Are you ready to learn more about just how green you can be with do-it-yourself solar? As your online superstore for energy independence, Solar GOODs carries a wide range of products designed to meet all your do-it-yourself needs. Visit our website to design your own DIY home solar power system and get started saving today.