Many of us make New Year’s resolutions to get in better shape, improve our finances, live better, and do our part to help the environment. Many people don’t think of solar when it comes to checking off New Year’s resolution goals; however, going solar can greatly improve your finances and help meet various sustainability goals. Here are 23 reasons your home and business should consider installing solar panels in 2023:
- The 2023 federal solar tax credit significantly reduces the cost of installing solar. In August 2022, the Inflation Reduction Act passed, increasing the solar tax credit to 30% of the system cost—which can include a battery!
- Electricity costs have significantly increased and will continue to rise. As of December 1, 2022, Duke Energy Progress has raised their rates to $0.129 per kWh (after tax). This is a 9.3% increase in energy costs, compared to their 4% average increase in past decades. If you don’t buy electricity from Duke Energy, you can still expect to see increases in energy costs with other utility companies. Installing solar panels can be an effective way to mitigate the rising prices now and protect you in the future.
- Expect major savings with solar. Although the amount of money saved from going solar varies on a project-to-project basis, you can expect to reduce your electricity bill and instantly save up to 30-80% or more on your utility payments. Factors such as available roof space, building orientation, roof pitch, energy consumption, and future home or business plans can all impact your potential solar savings.
- Solar helps the environment. Solar panels turn sunlight into energy for consumption by your home or business. This reduces the need for fossil fuels and reduces carbon emissions.
- Solar is a smart investment. The cost of the electricity you purchase from your utility provider will continue to climb. Depending on how your solar project is designed and funded—you can see a return on investment in 5-12 years and start saving money as early as day one. Cape Fear Solar Systems has dozens of customers who are Financial Advisors by profession (among many smart home and business owners) that have gone solar merely for the stable investment option.
- With solar, you pay yourself. With attractive loan options available, many solar customers are simply trading out a utility payment for a solar loan. For example, if your electric bill is $150 and you are saving $100 on electric cost with solar panels, you may have a monthly loan payment of $100—which means you are paying yourself instead of the electric company! In some cases, solar customers are even cash-positive on day one!
- Solar increases home value. While we don’t suggest installing solar panels solely for this purpose—numerus studies have shown solar homes are valued higher—plus, they sell even faster than traditional homes. In 2019, Zillow released a study showing that homes with photovoltaic solar panels sold for 4.1% more than similar homes without solar panels installed.
- The price of solar panels has dropped. According to EnergySage the cost of solar is 29% less today than it was almost 10 years ago. With many affordable loan options, such as zero-down solar loans and various financing options, solar is easily obtainable for most home and business owners.
- Solar technology is at its best. Solar panels have continued to improve over time and panels offered by Cape Fear Solar Systems offer the latest technology available on the market, paired with the best price. All solar panels also come with a production and labor guarantee, backed with a 25+ year product warranty.
- Work with one company for solar projects. Cape Fear Solar handles every aspect of the solar project from design and permitting, to installation and unlimited post-installation support. With a reputable solar contractor, everything will be handled in-house—meaning no subcontractors will be involved in the design process or installing your solar panels. With Cape Fear Solar, only highly trained and skilled employees will be working on your solar project and each employee is background-screened for your family and home’s protection.
- Battery storage options keep your home or business protected from grid outages. In our region—let’s face it—we have all been without power from storms, grid overloads, and utility equipment failures. When solar is paired with a battery, you can keep the lights on, even if the grid goes down. You can choose to back up just the essentials (such as lights, fans, and freezer) or your entire home or business.
- You can have a fuel station on your roof! If you own an electric vehicle, you can install solar panels and use clean energy to charge your vehicle. Not only are you avoiding paying for gas, but you are now saving even more money by using the sun! Cape Fear Solar Systems offers a variety of residential and commercial electric vehicle charging options.
- With solar panels, you can have a net-zero home. A net-zero home uses only the power it consumes. Generally new homes are very well insulated and include energy efficient appliances. With the addition of solar panels and battery storage—owning a net-zero home is very possible. Click here to learn about downtown Wilmington’s first net-zero home.
- Solar panels require little to no maintenance. Well-designed and installed solar systems require no scheduled maintenance. Our regular rains typically keep the panels clean; however, during the heavy pollen season, it never hurts to give them a good rinse with a hose.
- Set a good example in your community. By installing solar panels, you are showing the community that you care about the environment, while encouraging others to look into solar energy. Cape Fear Solar Systems even has referral program since most of our business is earned by recommendations and our reputation.
- Take advantage of solar mortgage options. An energy-efficient mortgage, also known as a green mortgage, is a financial loan product that allows you to fully pay for and finance energy-efficient improvements under favorable terms. Simply put, these funds are designed to help you finance eco-friendly home upgrades. These renovation projects can range from insulation to solar!
- Work with a local company. When you think about shopping locally and investing in your community, that includes home improvement projects too! Cape Fear Solar Systems has been empowering home and business owners with energy independence locally since 2007. As a local company, we also do our best to “shop local” by choosing local suppliers for everything from office supplies, tools, and vehicle maintenance.
- Be an early adopter of technology. While solar has been around for a very long time, it’s still considered a relatively new, yet proven technology. At Cape Fear Solar, we think of solar as the new microwave—while a microwave wasn’t an appliance included in every home just a few decades ago, it’s rare you don’t see one in every home you visit today. Like the microwave, the use of solar is rapidly growing. Some cities even mandate solar on new homes. If you’re an early adopter of technology—you’ve probably already had thoughts about going solar.
- Make a game out of using solar. No really!!! Solar customers can elect to have monitoring setup which allows them to see how much power is generated and consumed. Cape Fear Solar has many customers who make a game out of avoiding using extra power from the grid. Often that means doing laundry when the sun’s out and turning off unnecessary appliances—but many solar customers love this challenge!
- Protect your roof! Solar panels shield your roof from the elements and, in many cases, extend the life of your roof. However, if your roof has less than 7 years of life left, we encourage home and business owners to replace or repair the roof prior to purchasing solar panels. Fun fact: solar panels installed by Cape Fear Solar Systems are even engineered to withstand category 4 hurricane winds! That means your panels will be there if your roof is intact during a major storm.
- Unlimited post-installation support. When you choose the right solar installation company, your solar experience doesn’t stop after the system is turned on. Cape Fear Solar Systems offers unlimited post-installation support to our customers. If you have a question or just want us to check on your system’s production—we are here and will be for all the years to come.
- Accurate energy forecast. Solar energy experts can run energy forecasts to show exactly what a solar design is expected to do for your specific situation. This means you will be able to see a 3-dimensional rendering of your home showing panel placement, expected energy output, savings, and the payback period. Being informed will allow you to decide if solar is right for your home or business.
- Free no-pressure solar energy consultations. At Cape Fear Solar Systems, we tell you exactly what to expect and never pressure anyone to buy solar. If solar is right for you and your property, the numbers will speak for themselves, and we would be thrilled to walk you through the process. If solar doesn’t make sense for your situation—we have no problem telling you solar isn’t for you. Not too long ago we saw a post on Reditt recommending us for being upfront and honest in our process. We thought that was really cool!
There are many more than 23 reasons to go solar in 2023! Give us a call at (910) 409-5533 if you’d like to see exactly what solar can do for you. You can also obtain a free ballpark solar quote online at www.CapeFearSolarSystems.com
. And, if your New Year’s resolutions included saving money, helping the environment, or making smart investments—we can easily help you check those items off your list.