Global warming and the solar revolution

What are the major factors driving the dash toward solar power? The obvious answer is pollution since the world is more polluted than at any time in recorded history. But what about the financial and security advantages? The cost savings are almost as important as the clean energy factor for many homeowners. There is the added benefit of the security of knowing you will still have power during an outage.

Save thousands of dollars on solar

Adding solar panels to your home can result in monthly savings of well above $100 in many states. Extend this to two decades, less than the length of a typical solar panel warranty, and this translates to over $30,000. In Hawaii, residents save on average $64,000 the first 20 years.

Save money on day one
 

Solar purchase power agreements (PPAs) and solar leasing have made it possible for homeowners to switch to solar for little or no money down. Many homeowners choose to finance their solar panels with one of the “pay-as-you-go” financing options. This means that a third-party company – the solar provider – owns the solar system and is responsible for installation, maintenance, monitoring, and repairs. You simply pay the solar provider for electricity – less than you would`ve paid the utility company. As of June 2013, 75% of all American homes have access to pay-as-you-go solar. Pay-as-you-go solar is an outstanding option for many homeowners. However, we generally recommend that you should pay in cash (through a home equity loan or a second mortgage) if you can. This will bring in more long-term savings. 
 
Low Payback Period

If you are able to pay in cash, the payback period is in many cases less than a decade. In Hawaii, it takes homeowners on average five years before the monthly savings meet the total costs of the solar system.
Buying a home with solar panels means lower electricity costs. Solar panels will increase a home's attractiveness on the market, similarly to homes with low property taxes, homes in school districts and homes with good Home Energy Ratings. A study conducted by National Renewable Energy Laboratory (NREL) concluded that homes with solar panels sell 20% faster and for 17% more money. U.S. Department of Energy’s (DOE) Lawrence Berkeley National Laboratory discovered that the sales price of the average home increased $17,000 with solar panels.

There has never been a better time to install a solar energy system!

Solar power is here to stay, and the sooner you explore how much you can save, the sooner you can enjoy the benefits of residential solar power. Go to HahaSmart.com and try our price checker tool. It tells you how much solar power you need, and how much you can save.

Please visit our solar blog to find out more about the benefits of going solar.