Solar power is transforming communities across the United States. A recent survey shows that there are more than one million solar installations in the U.S., each generating a share of electricity. Homeowners and business owners use solar power systems to reduce utility expenses and to reduce harmful carbon dioxide emissions. Just like with any newer technology, there are a lot of myths and misconceptions about solar power systems. Here are some solar power myths and the facts to set the record straight.
Solar Power is Expensive, Isn’t It?
This myth is grounded in reality – installing solar panels on a home or business represents a substantial investment. The larger the system and its generating capability, the more costly such a system will be.
The truth, though, is that there is financing available for solar power systems and their installation costs. Low-cost financing through Property Assessed Clean Energy (PACE) legislation, along with rebates from utility companies, local and regional municipalities, and even tax breaks from the federal government reduce the costs. And, a study conducted in 2015 showed that financing a solar energy system actually cost less than buying electricity from a power company in many major American cities!
Can You Really Save Money?
Another common myth is that solar systems ultimately don’t save money. Nothing could be further from the truth on this one. Yes, the installation requires an investment, but once the system is installed, it immediately begins to generate electricity. Solar systems slash utility bills; that savings occurs on a monthly basis and those savings add up quick. In just a few years, homeowners can expect the systems to pay for themselves.
The loans used to finance solar system installation often cost less in monthly repayments than a typical residential utility bill, too. That’s savings we can all be happy about!
What Does Solar Do For Home Values?
Many people think that solar energy systems will lower home values. This has been proven time and again to be false. In fact, solar systems tend to RAISE home values. A recent survey of U.S. realtors and home sales showed that not only are home values increased, but homes with energy-saving upgrades like solar power systems sell faster than homes without such improvements. As today’s potential homebuyers become aware of green living and reducing carbon footprints, solar systems make a lot of sense when looking at homes to purchase.