Below are a list of the benefits of going Solar.
Save Thousands of Dollars
Adding solar panels to your home can bring in monthly savings of well above $100 in many provinces. Extend this to two decades, less than the length of a typical solar panel warranty, and this translates to over $30,000. Residents can save on average $64,000 the first 20 years!
Start Saving Immediately
Solar purchase power agreements (PPAs) and solar leasing has made it possible for homeowners to go solar for little or no money down.
Many homeowners choose to finance their solar panels with one of the “pay-as-you-go” financing options. This means that a third-party company – the solar provider – owns the solar system and takes care of installation, maintenance, monitoring and repairs. You simply pay the solar provider for electricity – less than you would have paid to the utility company.
Low Payback Period
If you choose to pay in cash, the payback period is, in many cases, less than ten years. It takes homeowners on average 5 years before the monthly savings (in terms of lower electricity costs) meets the total costs of the solar system.
Increase Your Home Value
Buying a home with solar panels translates into lower electricity costs. Solar panels will increase a home’s attractiveness on the market, similarly to homes with low property taxes, homes in school districts and homes with good Home Energy Ratings (a measurement of a energy efficiency).
Solar is a Secure Investment
The utility companies are notorious for their fluctuating and unreliable electricity prices. There is clearly an upward trend.
With solar panels and simple math, we can calculate how much electricity will be generated, and most importantly, at what price, for at least the next 20 years (fixed energy costs).
Save the Environment
We know that the majority of homeowners choose to go solar because it makes good sense from a financial point of view. That being said, the environmental benefits are also clearly worth mentioning.
The average residential solar system offsets about 100,000 lbs. of carbon dioxide in 20 years!