How Solar Panels May Save You Money

Submitted by Sunrise Solar on Fri, 08/28/2020 - 8:00am
Solar Panel Installation in Maryland

One of the biggest reasons why people switch to solar power is so they can save money on their electricity costs. This can result in major savings for both homes and businesses. But there are actually three primary ways you can save money with solar panels.

Predictable Energy Prices

By installing solar panels, you can greatly reduce and possibly even eliminate your monthly electric bill. Some estimates indicate you could save as much as $18,000 over the 25-year lifespan of your solar panels. This way, you won’t be subject to seasonal and market changes to your electricity rates, which generally increase over time.

Tax Credits

Tax credits allow you to recoup much of the cost of your solar panel installation. Solar rebate programs and credits vary from state to state. The federal government also has certain incentives for solar, though these are gradually getting phased out. Sunrise Solar will help you navigate this process to ensure you get the most savings possible.

Increase the Value of Your Home

Solar panels can actually increase the value of your home, helping you get more money if you decide to sell. A study from the U.S. Department of Energy found that homes with solar panels typically added $15,000 to their total value thanks to the lower utility costs future homeowners could expect to enjoy.

Solar panels are a great investment, and the sooner you install them, the more you’ll be able to save! Contact our team today to learn more about what type of installation will work best for your property.

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