Author: Lacy Cook — As the demand for renewable energy rises and prices drop, more and more homeowners are turning to residential solar. From lower electricity bills to increased home value, clean power offers numerous advantages — and knowing more about the benefits of solar energy can help you determine if solar makes sense for you and your family.
1. Lower Electric Bills
One big benefit of solar is its ability to lower power bills. Solar panels on your roof will generate electricity for your home, reducing your reliance on your utility company. We estimate you’ll save 50% to 80% on your monthly power bills. You won’t be able to go fully off-grid, so you’ll still owe your utility company service fees each month (usually around $20). But some customers find that all they owe are those service fees.
Additionally, you’ll be able to see any extra power your panels generate back to your utility company through net metering. Here’s how net metering works in practice: if you cover your electricity needs and then some with the clean power from your solar panels, you’ll receive a dollar-for-dollar credit on your power bill. We’ll get you set up for net metering when we submit interconnection paperwork to your utility company. If you have an older meter, they may need to come out and install a net-capable meter before you can start receiving credit. Pepco, Dominion, and BGE all offer net metering.
2. Environmental Impact
Another benefit of solar energy is that it will allow you to lower your carbon footprint. You’ll reduce your reliance on fossil fuels and power your home with renewable energy instead. According to the U.S. Energy Information Administration, about 60% of the electricity generation in the United States in 2022 came from fossil fuels, including coal, petroleum, or natural gas. We have a long way to go before we can run our country off renewables. But every rooftop installation gets us a little closer to that goal.
It’s true that solar panels do come with their own carbon footprint. But even factoring in carbon costs of manufacturing, most solar panels become carbon neutral in around three years, as they generate greenhouse gas emission-free energy. And the carbon footprint of solar panels, according to the International Panel on Climate Change, is around 12 times less than that of natural gas, and 20 times less than coal. Switching to solar is a proactive step to cultivate a greener community and a more sustainable future.
Plus, according to the Office of Energy Efficiency & Renewable Energy, solar can help protect ecosystems and wildlife, as well as human health, since obtaining power from solar improves air quality.
3. Government Incentives and Rebates
You can also save money through government incentives and rebates for residential solar systems. Check out the Database of State Incentives for Renewables and Efficiency for a comprehensive look at what Washington DC, Maryland, or Virginia offers in terms of financial incentives for solar. The database includes incentives for clean power as well as energy efficiency.
One incentive available throughout the DMV is the 30% federal solar tax credit. You’ll claim this tax credit the year your system is installed, if you purchased your system in cash or with a solar loan.
Solar Renewable Energy Certificates, or SRECs, are another way system owners can profit from rooftop solar. This is especially true in DC, where the SREC market is the best in the United States. (Prices are lower in Maryland and Virginia.) Read Uprise’s blog post on SRECs to find out more.
4. Increased Home Value
Residential solar can also increase the value of your home. The Office of Energy Efficiency & Renewable Energy’s Homeowner’s Guide to Going Solar says homeowners view solar panels as upgrades, similar to a renovated kitchen. And Zillow research found houses with solar sold for around 4.1% more — an additional $9,274 for a median-valued home.
Even if you paid for solar with a loan or obtained it through our no-cost solar program, your solar array can still be attractive to potential buyers. You may have to transfer the loan over to them if you haven’t yet paid it off, and we can transfer our no-cost solar contract to the new homeowner. You’ll be selling a home with far lower electricity bills, a draw for most home buyers.
5. Boost to Local Economy
The more people go solar in the DMV, the more solar jobs there will be. This is even more true if you go solar with a local company! According to the Interstate Renewable Energy Council’s 2022 National Solar Jobs Census, the solar industry in America (including DC and Puerto Rico) employs 263,883 workers, an increase of 3.5% from 2021. In the DMV, most of the jobs in the solar industry are in installation.
The team at Uprise brings a combined 80-plus years of experience in the solar industry. Many of us met at other solar companies around the DMV, and we came together to offer the region a better option. We love hiring local and contributing to our local community through solar!
Ready to go solar and take advantage of these solar energy benefits? If you have any questions about the process, we’d love to speak with you. Call us at (202) 750-5718 or fill out the form directly below to schedule a conversation.
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