Residential Solar Panels
Solar panels for your home are an investment that will benefit you for the life of your home. Installing a residential solar energy system will enable you to:
- Reduce your electric bill – Many residential solar customers have seen their monthly expenses drop by anywhere from 50 to 90% after they get past their payback period. When you generate most of the electricity that you need, you don't have to pay much to your utility company.
- Increase your home's value - Research from the Department of Energy shows that buyers are willing to pay more for homes with rooftop solar panels. Researchers found that buyers were willing to pay a premium of $15,000 for a home with the average-size solar photovoltaic system (3.6 kilowatts, or 3,600 watts), compared with a similar home without such a system.
- Lock in your electric rates When you own the plant that generates your electricity, you can set the price for the electricity that you use. Very few costs ever go down, and when you become your own electric company, you're essentially immune to the cost hikes that are almost certain to come.
- Decrease your carbon footprint. Manufacturing the components of a solar electric system does require the use of some carbon-based fuels. However, once the system starts running, its carbon footprint is essentially zero, and the payback time in carbon terms is now about a year and a half at Pennsylvania's latitude.
Here's another important consideration that many people are not aware of: Some utilities use a tiered pricing system, which means that as you pass each level of consumption, your rate for each additional kilowatt hour will go up. With your own solar electric system at work, it's possible that you will never get out of Tier 1 and into the higher prices of subsequent tiers.