According to statistics from Project Sunroof (November 2018), Texas has a 90% solar qualifying rate. Simply said, 9 out of 10 residences in the state may install solar energy systems and utilize the sun’s free energy. Why do less than 3% of all eligible buildings in the region have solar installations?
Until recently, the cost of solar energy was out of reach for the majority of households and businesses. However, the cost of solar-related goods and services has significantly decreased during the last 20 years. The day when installing solar panels did not make financial sense is long gone. For a typical home in Texas, a solar panel system now costs between $10,000 and $40,000.
Why You Should Go Solar in 2022
It is the ideal moment to switch to solar power in Texas right now. Here are several justifications for solar panel installation on your property.
1. Federal Government Investment Tax Credit
When the government initially announced the introduction of the solar ITC, the price of solar energy significantly decreased. However, it won’t always be this this. In 2021, the solar investment tax credit is expected to drop to 22%. Residential solar subsidies will no longer be offered by the federal government starting in 2022, however utility projects will continue to get a 10% ITC on an ongoing basis.
The typical savings achieved through government incentives currently number in the hundreds. In addition to saving your family money, receiving a tax credit of more than $3,000 for a 3 kW solar system can shorten the project’s payback period. The federal ITC for solar utility projects may be in the thousands of dollars since you get a dollar-for-dollar match.
Expect the customary last-minute rush before the incentives expire. It could thus need you to wait longer for the installation. Additionally, you can miss the deadline.
2. Reduce Utility Cost
You pay the utility company about $120 each month for energy. Even while the sum might appear small, you can understand how significant the energy expenditures can be if you add up all your utility costs over the course of a year or five. By installing an energy storage system, you can go off the grid. Some batteries have the capacity to store energy for use at night or in the winter, when sunlight hours are less.
Texas receives more than five hours of direct sunlight each day. You have enough energy to power all of your tasks, including heating, cooling, lighting, and ironing, for the whole five hours. You can employ a grid-tied system that sells extra energy to the utility company in exchange for credit if you don’t want to go off the grid. In exchange, the supplier provides electricity to you at night or during times of low sunshine. The main benefits of going solar are cost savings from solar energy and reduced utility costs.
3. Protect the Environment
Texas’s total solar energy potential may reduce carbon dioxide emissions by 80 million metric tons per year. his would be the same as planting more than 20 billion trees after ten years. This would be a significant step in the right direction in a world where environmental degradation is becoming a serious worry. In order to prevent the effects of environmental contamination, the globe faces a significant challenge. By 2050, the average world temperature is expected to rise by 2°C with the existing carbon footprint per capita (4 metric tons).
Solar energy doesn’t release any gases into the atmosphere as other electricity sources like coal and oil do. Solar power can cut down on emissions from energy power plants as a substitute for conventional electricity. In addition, the production of power from solar energy requires less usage of natural resources. Contrarily, generating energy from sources like hydro-power requires a lot of water. Dam building is another way that hydropower disturbs the biological system.
4. Increase Your Property’s Value
This is one of the main arguments for property sellers to switch to solar power. According to Zillow’s study, installing solar panels can boost your home’s value by up to 4.1%. The study demonstrates that installing solar energy systems can increase the cost of a building by more than $20,000 in some areas, such as New York. Property value increases on average by over $10,000.
States are pressing for solar energy installation to be required in all new structures. Home buyers are always prepared to spend more for a solar-powered home since solar panels may last for more than 30 years.
No property taxes are due for any value growth brought on by the installation of solar panels. As a result, you profit financially when you sell your solar-powered house. Having a solar-powered property might also help you draw in more potential customers. You should not be concerned if your solar panel system is rented because you may transfer the lease.
5. No More Power Outages (Gain Energy Independence)
Having to rely on utility companies might be a nuisance. If there is a power outage, routine system updates may interfere with your plans. Even larger uncertainty disruptions might result from natural disasters. After such disruptions, you don’t know when the system will be repaired.
You gain freedom from such inconveniences thanks to solar energy. If you go solar and add energy storage batteries, you can say goodbye to blackouts. After a natural calamity, the sun will still rise, which can have an impact on your solar panel installation. As a result, if your solar system was damaged, you should call solar installers right once to get it fixed.
Without having to worry about upcoming power costs, you may choose the energy you wish to harness for your residence or place of business.
6. Develop Your Business’ Reputation
Businesses that use renewable energy are preferred by environmentalists than those that use conventional electricity. You might sell to clients who favor green energy. Additionally, it demonstrates consideration for the environment, which is a crucial business duty. Customers frequently reward businesses that behave properly and look out for the interests of the community. If you go solar and protect the environment, you can attract devoted clients.
The success of every firm is largely dependent on its workforce. Employees that care about environmental preservation will be able to relate to your objectives. This raises their spirits and improves staff retention as a result.
7. Create Employment
For every 78 jobs created in the United States, the solar industry creates one. According to EESI, the solar industry employs about 240,000 people. As solar energy is anticipated to overtake other energy sources by 2050, the numbers will continue to rise. More than 11 million people are employed by this sector worldwide.
In Texas, there are more than 270 solar panel manufacturers. These companies have, among other positions, employed solar installers, assemblers, salesmen, engineers, and customer service representatives. Especially in light of the economic upheaval caused by COVID-19, you might contribute to the effort to address the problem of unemployment. You may install solar panels and encourage the industry’s expansion to employ more people because solar firms hire the locals.
8. Relief from Upcoming Electricity Price Increases
The average cost of power per kWh in 2019 was 11.67, according to Compare Power. As has happened during the last ten years, an increase in the price of power is anticipated. With these uncertainties, you can end up paying more in the future for your power use.
On the other hand, as manufacturers improve the efficiency of solar panels, the price of solar installation will continue to decline. Solar energy will become less expensive as compared to other renewable sources. You won’t have to worry about rising power costs once you’ve covered the initial expense of the solar installation.