The financial benefits of going solar are now well documented. Solar panel systems actually function as investments with strong rates of return, and homeowners generating solar electricity can avoid paying increased utility rates by eliminating their electricity bills. According to a 2015 report by the Lawrence Berkeley National Laboratory, installing solar panels on your home can even increase your property values. If you’re reviewing multiple quotes, there are plenty of metrics that can help you make a decision about which solar option is best for you, but studies show most solar shoppers rely on one metric in particular: the solar panel payback period or break-even point.
When you make improvements to your home, it’s smart to take into consideration how they will impact your home’s value. The conventional wisdom from HGTV and home improvement magazines is that updating your kitchen, renovating your bathroom, or building an addition are the smartest ways to increase the value of your property. But there’s another home improvement that you may not realize adds to your property’s value: installing a solar energy system on your roof.
Going solar saves you money on your monthly electrical bill. The amount of your savings varies by size and location of the system. But how does it work financially and administratively with your utility? Currently, two types of policy are widely used: the Value of Solar Tariff and Net Metering. The decision of which one to use can be controversial. Continue reading
“…The economic benefits of net metering actually outweigh the costs and impose no significant cost increase for non-solar customers. Far from a net cost, net metering is in most cases a net benefit—for the utility and for non-solar rate-payers.”
You may have heard an endorsement like this before from renewable energy advocates and representatives of solar installers. But those words didn’t come from SolarCity or from the Solar Energy Industries Association (SEIA) – they came from the Brookings Institute, one of the country’s most respected nonpartisan think tanks.