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Trending Solar Panels Are Helping Lower Utility Costs

Posted by on March 28, 2013

With the economy still reeling from a financial meltdown, many homeowners are looking at ways to reduce monthly expenses any way possible. And for many, the sun is shining the light on the answer. Literally. In 2013, solar panel additions are likely to be the new home improvement trend, according to experts.

Depending on where one lives, transforming your home may require costs up front that will be recouped with lower utility costs down the line. In California, tax-incentive programs encourage homeowners to purchase and install solar panels. Other states, however, may not offer such incentives. It’s up to you to examine your state’s laws. But whether you get a tax incentive or not, an environmentally aware homeowner would greatly benefit from such solar panel systems. According to the U.S. Department of Energy, solar panels may increase your home value up to $20 for every $1 saved in energy costs. So, if you realize $500 savings a year, that could add up to $10,000 to your home’s value!

These numbers alone are what many homeowners say could be the impetus for a solar revolution. On a bright, sunny day, the sun can beam approximately 1,000 watts of energy per square meter of the planet’s surface. This is easy enough to capture and use. Plus, it’s free. Perceptive homeowners are taking note. While solar panels initially cost homeowners money, those who want to truly save are examining this option more and more. In some instances, homeowners who use solar power actually produce more energy than they use, which means that energy goes back on the “grid” and others can use it. When this happens, the energy company actually pays you! Granted, the money is not a huge chunk, but imagine not having to pay an electric bill again? Many homeowners have already imagined this scenario. And in 2013, many more will follow suit.

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