Residential Advantages

Benefits Of Solar PV

Virginia homeowners can expect three main benefits from installing a Solar PV System: lower utility bills, higher home value and a greater control over their future.

Benefit #1: Lower Utility Bills

As an intelligent home owner, you probably have heard solar energy can be a great way to reduce your monthly utility bill. As an example, a solar photovoltaic system that offsets around 70% of your electric usage means, that if you spent $200 last month, you would save 70% or $140 each month. That’s a savings of $1,680 per year. Don’t forget that electricity costs have historically gone up around 2-3% each year – that’s means you can save about $2,260 on your 2020 electric bill!

The payback period for a residential solar system depends on your electric bill, your location, your current utility rates and other factors. However, many new systems can pay themselves back in 5-10 years with the help of state and federal financial incentives, such a solar rebates.

Also, current solar financing programs allow homeowners to benefit from immediate reductions in monthly energy bills without paying a large sum of money upfront. Some programs will cost homeowners as little as $1000 or even $0 down payment in certain areas.

Benefit #3: Greater Control Over Your Future

Solar energy provides peace of mind that you are building a more financially secure future for yourself by providing independence from utility company electricity rates and control over your home expenses. Using solar to generate electricity for your home effectively locks in a low utility rate now for the lifetime of your system – which can be 30+ years!

Together with home energy efficiency improvements, the energy from solar power systems can be used to make your home more comfortable and luxurious. Finally, by reducing your home’s energy demands from local utility company power generation, you are doing your part to protect the environment and improve the health of your local community.

Benefit #2: Higher Home Value

Much like when you renovate your kitchen a solar system is considered an improvement to your home. As a result, solar energy can increase your home’s value and make it more attractive should you decide to sell it in the future. In fact, installing a solar system can actually increase the value of your home more than the cost of the system itself, particularly where state and federal incentives are available.

This is because electricity bills factor into the affordability of a house and a buyer can afford to pay more for a home that has lower utility bills. A 1999 study partially funded by the U.S. Department of Housing and Urban Development found that home values increase by $20 for every $1 reduction in annual electricity bills.

Also the Appraisal Institute dictates these guidelines of a 20:1 ration! This means, the annual savings of $1,680 mentioned above would result in a home that is worth $33,600 more!

As if these reasons weren’t enough, research by the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy has shown that a home with solar panels installed can sell twice as fast as a home without solar panels installed.

As a wise consumer you’re probably curious about what these improvements could do to your property taxes. Fortunately, most states offer property tax incentives that exclude the added value from the solar system in the property tax calculation.

SOLAR PV CONTRACTORS

VA Alternative Energy System Class "A" Contractors, NABCEP Trained & Certified, USGBC Members, LEED

FREE REMOTE AND ON SITE EVALUATION

We will complete a remote, or on sight site evaluation of your property. We will then provide a Performance & Financial Analysis to you that includes install price, KWH production, ROI, payback and warranty information! We can also help with financing!

THE DIVIDEND SOLUTION

For the first time in Virginia we now offer a financing option similar to a Power Purchase Agreement. Contact us today to and ask about going solar for a payment lower than your current average utility bill!

BlueStar Solar Energy, LLC.

Virginia Office: 434-381-3033

info@bluestarcleanenergy.com