Solar PV System Advantages

Solar PV provides many advantages including Environmental Impact, Investment, Property Value, Government Incentives/Rebates, and Customer and Market Appreciation.

 

Solar PV System Advantages

Environmental Impact

For each kWh produced reduces the carbon output of a coal fired power plant by 1.44lbs of CO2. The average household uses 800 kWh per month, if you offset your needs by just half you will reduce carbon emissions into the atmosphere by 3.5 tons of CO2 annually.

Investment

The purchase of a PV system is an investment. In today’s unstable fuel markets it is important to stabilize your costs. A solar PV system does just that, an upfront investment that stabilizes costs for 30+ years. A system can generate as much as 5 times the original investment before the warranty expires. That means you are producing energy at no cost on any energy produced after the system has generated 100% of the cost. An array generally has no maintenance costs, as there are no moving parts.

Property Value

When a solar PV system is installed on a residence or commercial property the property value adjustment is equal to a 20-to-1 ratio. In other words, if the system production is equal to $1,000 annually the property value increase is $20,000 and in most states this property value increase does not affect your property taxes.

Government Incentives/Rebates

The federal government offers a 30% tax credit on the total cost of a system including installation. This credit is good through 2017. For commercial installations an accelerated depreciation program exists (MARCS) which allows for additional return. There are many state and utility programs that exist to reduce the initial investment as well. Grants may also be available depending on qualification and availability.

Customer and Market Appreciation

In addition to all the above-mentioned advantages, owning a solar PV system brings with it a lot of pride. Knowing that you are taking steps to reduce our carbon footprint and working towards an independent energy market not so reliant on fossil fuels is very rewarding. The ability to market your business as a green business is a strong marketing advantage in today’s world.

 

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