If you’ve taken a look at your energy bill lately, you’ve likely seen it go up significantly over the last few years. Rising prices of resources that are used to help generate electricity (like natural gas ) have a direct impact on your utility bills, which can make it hard to keep your finances in the black. By going solar, however, you can unlock long-term economic benefits.
Solar: A Long-term Investment
It’s true that installing a solar system does require a significant upfront investment, but costs have gone down in recent years. The current average price for solar panels is $2.95/W. However, you immediately begin generating a return on investment once they start producing power. It takes an average of 8.7 years to earn back the cost of a solar panel installation, though this can be even faster depending on local electricity rates and your average energy usage. Solar also protects you from future energy price increases.
Tax Incentives and Credits
The cost of installing solar panels can be further reduced by taking advantage of tax incentives and credits. Commercial solar systems can currently qualify for a 30% upfront tax credit to offset the cost of installation. Some electric utilities and state governments also offer rebates. We can help you identify which incentives and credits are available for you.
Environmental Stewardship and Economic Sense
It’s also worth noting that switching to solar energy also demonstrates good environmental stewardship. This can be a powerful differentiator for businesses, as many customers want to buy from brands that share their values. Reducing your own carbon footprint is a way to communicate your values and become more appealing to potential customers.
As these factors prove, solar energy is a viable economic and environmental choice that can play big long-term dividends. And Solar Sunrise is the ideal partner to help! Serving the Delmarva area for over a decade, our team understands how to design and install solar systems uniquely suited to your property’s needs.
Contact us today to learn more.