Benefits of Solar Power
Benefits of solar power are becoming increasingly evident. Whether it’s to save money or to help the environment, tens of thousands of Long Islanders (homes and businesses) are choosing to invest in solar power. The following are examples of the many benefits.
In recent years electricity rates have soared, far outpacing the rate of inflation. Most experts feel that rate hikes will continue, and perhaps even worsen. Investing in solar allows you to own your own power plant, instead of buying power at an inflated price. It allows you to lock in your electric rate at a fraction of today’s electric costs, and it makes you immune from future rate hikes. It’s also worth noting that investing in renewable energy such as solar power reduces the nation’s dependency on foreign oils and keeps more money at home in the USA.
The long term financial savings of investing in solar power can be quite significant. The declining costs of equipment coupled with the substantial Federal and NY State incentives makes it a great time to invest in solar. System paybacks are shorter than ever, 100% financed systems yield positive cash flows, there is a high annual rate of return compared to popular investment vehicles, and there is an immediate increase in home value. Please see the “Solar Payback and Financials” page for details!
Better for the Environment
Generating your own electricity reduces your consumption of fossil fuels, therefore minimizing the emission of pollutants and greenhouse gases. Over the warranted lifespan of an average sized residential system (8.8KW), you can expect your system to offset 440,000 pounds of CO2 which is the principal contributor to global warming. This is equivalent to offsetting over 265,000 miles driven by the average car, or planting 38,200 square feet of trees!
A clear benefit of solar power lies in their dependable technology. Solar (PV) modules were developed for use in the harshest of environments: outer space. They are still used on almost all satellites due to their proven reliability. Solar panels have no moving parts, have no emissions, are silent, and are virtually maintenance free. You can expect the panels to provide you with 30-40 years of trouble-free electrical production. The industry standard warranty of 25 years is a testament to solar panels reliability, which is unmatched by any other manufactured good.