As energy prices continue to skyrocket, we’re all looking for ways to save money on our monthly bills. And the environmentalists among us are also looking to decrease our dependency on brown energy, like natural gas.

Enter the sun.

You’ve no doubt seen solar panels lining rooftops and otherwise empty fields. Those panels are a collection of photovoltaic (PV) cells, which absorb photons from sunlight. This creates an electrical field across the layers of the panel and causes electricity to flow. Nifty, right? (If you’re feeling nerdy, here’s a more thorough explanation of how solar works.) 

And while there’s a hefty initial investment involved, solar panels might be the planet-friendly solution you’ve been looking for. 

Perks of Going Solar

#1 You help Mama Earth.

Traditional electricity is produced with fossil fuels like coal and natural gas. And these fuel sources require a lot of water resources to produce. This leads to air and water pollution, big time, and it also contributes to climate change! 

But solar power systems create clean, pure energy from the sun, with no water required. That means a lower carbon footprint—about 96% less than coal and 93% less than natural gas.

Renewable energy, like solar power, also helps public health. The air and water pollution created by traditional energy sources takes a toll on our bodies. By investing in solar power, you can reduce the pollution that’s working against us in all sorts of ways.

#2 You earn tax credits.

The federal government offers healthy tax credits for going solar—26% of your total system costs. 

Colorado has also jumped on the incentives bandwagon, exempting sales and use taxes for renewable energy equipment. You can also save money on your property taxes!

#3 You improve your home’s resale value.

Solar panels are a huge benefit to potential buyers. Because they don’t have to worry about initial investment and installation, they’re free to reap all the benefits without any of the financial risk. 

One study found you could see an almost $6,000 value increase per installed kilowatt. That means a 3-kilowatt system could improve your home’s resale value by $18,000!

#4 You save money (in the long run).

Your current power comes from finite resources—coal and natural gas. That means the price is constantly fluctuating with supply and can increase at any moment. We’re already seeing this across the country! 

By installing a solar power system, you’re essentially locking in your rates for the next 25 years or more. And if you produce enough solar power, you might be able to kick other sources completely. Free energy from our friend, the sun? Yes, please!

#5 You vote with your dollars.

By investing in renewable energy, we take a stand against traditional and harmful energy sources. We’re basically telling Big Oil to eff off. And, over time and with enough momentum, we can change how Big Oil (and its subsidiaries) affect our climate and quality of life.

The Drawbacks of Solar Energy

While there are some incredible benefits to adding solar power to your home, it’s not all sunshine and roses (heh). 

Going solar probably won’t replace your reliance on brown energy 100%. And for the incredibly high installation and maintenance costs, that might not be worth it for you. You may also lose your tax breaks in coming years if our the feds or state government decide to do away with them at any point.

You’ll also need the right type of roof for solar panels to work effectively. Some rooftops may not be suitable for panels due to age or tree cover. The size, shape, and slope of your roof could also affect your solar energy eligibility. Typically, you’ll need a south-facing, 15-40 degree-sloped roof to get the most bang for your buck.

Is Solar Power Right for Me?

While we’d all love to do good things for the environment for the environment’s sake, it often comes down to the bottom dollar. To calculate whether solar power will really pay off for you, figure out:

• The cost of a solar power system, installation, and ongoing maintenance

• How much energy it can produce

• How many years it will take to pay off your initial investment (aiming for 5 years or less)

A solar installation company can give you all this information and more. They’ll also be privy to any tax credits you might be eligible for upon purchase and installation.

We care about you, too!

We care about you even more than we care about the environment (which is a whole, whole lot). When you’re ready to change up your real estate situation—buying, selling, or investing—we’ve got you covered. Book a Discovery Meeting to have a no-pressure chat.