If there’s one word to describe the solar market right now, it would be robust.
Solar installations grew 43%, with California, Texas, and solar companies topping the lead for annual solar additions. That’s amazing, considering these all happened while the coronavirus pandemic is going on.
Most of the solar sales can be attributed to homeowners looking to improve their properties. Now, if you’re still unsure whether to follow suit, you’re in luck. Here, we’ll talk about why it’s a good idea to take advantage of the current solar energy market.
A Guaranteed Return on Your Solar Investment
Thanks to tech advances and support from federal and state governments, going solar in 2021 is one of the best investments for homeowners.
While solar panel installation still comes with high initial costs, it’s a solid investment. That’s because you’ll save a lot on your utility bills.
Don’t forget that photovoltaic or PV systems can last anywhere between 20 to 30 years. After paying off your system, you’ll be generating electricity for free (about seven to eight years for many homeowners). Plus, if you have a grid-tied system, you can sell whatever you don’t use, which means you’ll also be earning money.
Other Reasons Going Solar Right Now Is a Sure Win
Besides getting to enjoy free electricity, switching to solar can help increase your home’s value. Just imagine if there comes a situation where you’ll need to sell your house fast.
If you have solar panels already installed, you’re sure to attract many types of buyers. These include eco-conscious folks, real estate investors, homeowners who know they consume a lot of power, etc.
Another reason investing in solar power is a solid move is job creation. Because solar is becoming more and more in demand, PV system installations can help boost the local economy.
This trend will probably not see a dip for many years to come. With the long-lasting effects of the pandemic, the opportunities the solar industry provides are a good thing.
Not Just for Homeowners
If you’re still asking should you go solar, keep in mind that the benefits of a PV system extend to business owners and landowners.
Entrepreneurs know the importance of forecasting expenses. If you run a business, for example, going solar can help you cut operating costs. You also don’t have to worry about electricity price inflation since a PV system can protect you from volatile utility rates.
Going solar is also good PR for any company. More buyers or clients are looking for organizations that commit to protecting the environment. The same goes for young talent who are seeking companies with a good image.
The Future of the Solar Market Looks Bright
There’s no doubt investing in the current solar market is a winning strategy, especially if you’re a homeowner or entrepreneur.
If you still have some hesitations, though, about switching to solar, there are plenty of resources online. Hopefully, these can help you make the right decision.
For more solar-related tips and advice, please check our other posts.