Why Switch to Solar Energy: The Financial Benefits
When solar energy first hit the market, it was not nearly as affordable as it is today, and it got the reputation as being a sort of eco-luxury for wealthy environmentalists. Costs have changed dramatically since then, but unfortunately the now false reputation has stuck around.
Today, due to a number of factors including global demand and amazing local rebate and incentive programs, solar energy is not only affordable but actually saves you money both in the short term and the long run.
Let’s take a closer look.
We’ve written before about Efficiency Nova Scotia’s SolarHomes rebate program, which is available to Nova Scotians, and we have an upcoming post on the SolarCity program, which is available to HRM residents. Both combined and individually, these rebate programs are a huge win for solar in Nova Scotia and have made making the switch to solar energy a financial no-brainer.
The (short-term AND longterm) financial benefits of solar energy:
1. Your power bill drops right away. With solar energy, you’re making your own energy, rather than having to pay for it. The result? A lower power bill from Day 1! The average home can save $1628 annually on their power bill.
2. Support from rebates and incentive programs. The SolarHomes program (open to all residents of Nova Scotia) and the SolarCity program (open to residents of HRM) have made solar installation financially available to everyone.
3. Protection from rising power rates. When you’re “buying” your power, you have no control over price hikes, but with solar energy, you gain autonomy over your energy costs.
4. Long lifespan. An average solar energy system lasts 30 years but is paid off in 10 years. That means a good 20 years of nothing but lower power bills!
5. Increases the value of your home. Installing a solar energy system increases your home value by at least the cost of the system, so you’ll reap the benefits if you decide to sell your home in the future.
To get started with your solar energy system, get your FREE customized assessment today!
How Your Solar Energy System Increases Your Home Value
When it comes to saving money with solar energy, there is more than one way you’ll benefit from making the switch. As we discussed here, your solar energy will begin saving you money right away on your power bill, and you’ll be protected from increasing price hikes...
5 Ways to Save Energy in Your Home and Maximize Your Solar Energy System
Switching to solar energy is a huge win for your electricity bill and helps you to save money both in the short term and in the long run. However, you can further increase your savings by making a few changes to your energy consumption habits. Reducing your energy...
5 Solar Energy Myths
There are a lot of misconceptions about solar energy so today, we wanted to clear up five of the most common ones we hear. The installation costs negate the financial benefits. Sure, solar can save you money in the long run, but a common concern with solar is that the...