One of the reasons many businesses and homeowners are switching to solar is due to the positive economic benefit it has for local communities. Some of the ways solar power can economically impact your family and community include:
Solar Lowers Your Utility Bill
Investing in solar energy can significantly reduce the amount you pay each month for your utility bills. This form of energy relies on ultraviolet (UV) rays, and the clean energy created can offset the costs associated with your electricity usage at home. As a result, you’ll likely end up paying less over time, allowing you to recuperate your costs for your investment.
Some utility companies allow you to sell any excess energy your panels produce through a process called net metering. Others in your community can benefit from the clean energy you’ve created while you enjoy a lower monthly electricity bill.
Solar Creates Jobs
As more people become interested in installing solar panels, more energy employees are needed to meet demand. This sector requires jobs for manufacturing, installation and maintenance. By investing in solar, you’re also investing in a new job market, bolstering your local economy.
Solar Assists During Emergencies
Numerous natural disasters can disrupt the power supply from the grid, including earthquakes, hurricanes and floods. Fortunately, solar panels provide a powerful alternative when traditional electricity fails during emergencies. Even during a natural disaster, the sun can still provide the energy needed to power solar panels when energy sources, such as fossil fuels, are unavailable.
Using solar power will also help reduce your carbon emissions, which have an impact on climate change and contribute to worsening natural disasters.
Solar Incentives for Installation
Installing solar panels makes you eligible for federal incentives, such as the solar investment tax credit. Many states also offer their own incentives, including North Carolina. These incentives can help reduce the cost of what you initially spent on the purchase and residential or commercial installation of your solar panels, which contributes to the economy.
