by Alycia Gordan
Green energy has been taking center stage ever since the threat of global warming and environmental degradation has started looming over the planet. 2017 was the eighth consecutive year during which the investment in green energy exceeded $200 billion. Out of this, solar energy attracted the most global investment. The world added 98 gigawatts of solar capacity in 2017 only.
The investment in renewable energy seems justifiable; after all, it comes with numerous advantages. It is not only environment-friendly but economical as well. Do you know that only one turbine can power 1400 homes? While green energy is beneficial for the economy, you can also leverage it to your advantage. Here is why switching to green energy will be better for your family:
1. Lower electricity bill
Electricity has been a blessing since its introduction, but it comes at a considerable cost. Green energy, however, can lead to cost savings. Installing a wind turbine or a solar panel means that you will use less power from the grid.
Solar panel installation can considerably reduce your electricity bill, but it depends upon several factors such as daily sunlight hours and local electricity rates. A typical American family spends about $1430 on electricity every year. 20 years savings can be as high as $30,523, but it varies from state to state.
1. Increase the value of your home
Adding solar panels to your home can increase its resale value. According to a survey conducted by Lawrence Berkeley National Laboratory buyers are willing to pay a $12,000- 15,000 premium for a house with solar. The laboratory analyzed 4000 homes in eight different states. Initially, real estate agents were unaware of how the additional benefits of a solar panel. However, now 1.5 million households are equipped with solar panels, and there is one new installation every 90 seconds. Hence, the real estate agents have more experience in marketing these features.
2. Guaranteed performance
The best part about shifting towards green energy is that you don’t have to worry about the equipment at all. Making a huge investment can be a scary thought, but you should know that it is a secure investment because most of the manufacturers offer a warranty of 20-25 years, which means they expect the equipment performance to go down by only 1% every year. Issues with solar panels are rare, especially if you opt for a reliable and well-known manufacturer.
3. Low maintenance
Solar panels may seem high maintenance by the face of it. However, that is not the case. In fact, there is little maintenance involved in the entire lifespan of the equipment. The only thing that you need to take care of is the dust and pollen, especially during the summers. Rain is often enough to clean your solar panels, but in case there is no rain, you can easily rinse off the dust with a garden hose. Most companies offer maintenance packages along with the warranty.
One of the reasons why green energy is gaining traction is its affordability. Technological advancements have significantly reduced the prices of green energy. According to a recent report, the trend will continue in 2020. Also, all the renewable technology is capable of competing head-on with fossil fuels. The average cost of solar panel is $18,840, 6.6% lower than the price a year ago. The cost of a wind turbine is even lower than that of solar panels. The average upfront cost of wind power equipment is $5,000.
5. Tax rebates
Apart from affordability, another advantage of green energy is tax rebates that add to cost savings. You will get back around 30 percent of the installation costs as federal income tax credits when you file for your taxes, which means you will get back $7,500 on an investment of $25,000, which is not bad. On top of this, you can also avail state and local rebates and solar energy renewable credits that can cut down the cost of investment into half.
6. Stable prices
One of the downsides of using electricity from the grid is fluctuating prices of the fossil fuels. For example, before 2008, prices of coal skyrocketed due to high demand. However, there was a rapid decline after 2008 because the demand decreased. As far as renewable energy is concerned, it can provide stable prices. A decade ago, it cost around $600MWh to generate electricity from solar power, while it cost $100 through gas and coal. Today, electricity from solar power costs $100 while electricity from the wind costs only $50.
7. Easy installation
Technological advancements have simplified green energy equipment, which has consequently made solar installation easier. In fact, you can now install the equipment yourself. However, you must be very careful since these solar panels produce high voltage electricity when exposed to the sun. Another option is solar roof tile, which are easier to install. The market is now full of solar energy software that makes the installation process seamless.
8. Reduce your carbon footprint
By switching to green energy, you will not only benefit yourself but the environment as well by reducing greenhouse gases. There is a formula that you can use to determine how your green actions are improving the environment. However, to give an idea, a typical vehicle produces 4.7 metric tons of carbon dioxide every year, and if the average size of a solar panel is 6 KW, then it means that a solar panel takes a car off the road.
9. Keep the house cool
One additional benefit of installing a solar panel in your home is that it keeps the temperature of house lower. With the solar panels, the sun rays do not fall upon the house directly. Instead, they get absorbed by the solar panels, which keeps your home cool.
The world is already suffering from high pollution and increasing temperatures. By shifting to green energy, you can play a small part in saving the environment.
ABOUT Alycia Gordan
Alycia Gordan is a freelance writer. She loves to read and write article related to health and lifestyle, sometime on health-tech as well. She is crazy about choclates and you can find her on Twitter: @meetalycia