How Do Solar Panels Benefit Homeowners in Las Vegas?
If you've been thinking about installing solar panels in Las Vegas, now is the best time to make the switch. Other than being more affordable and efficient, the federal government offer various renewable energy incentives. Below are some of the benefits.
4 Benefits of Installing Solar Panels on Your Home
-
Long-term savings
According to SaveOnEnergy.com's monthly electric bill report, Nevada residents paid an average of $99.86 a month in 2021. Although it's among the lowest rates in the US, it's an annualized amount of $1198.32. A solar system lasts 25 to 30 years and might save you $29.958 to $35,949.6 in current electricity bills.
The average cost of installing a solar system in Nevada is $12,750. However, annual savings of $1198.32 mean you can recoup this investment in less than 11 years. Over its lifespan, a solar system will easily save you $15k to $20k.
-
Higher home value
A home with solar panels in Las Vegas stands out in the competitive property market. Potential buyers are more likely to pay a higher price because they'll benefit from the long-term electric bill savings. According to studies, solar-powered homes fetch 17% more on average.
-
State and federal incentives
As Americans realize the importance of sustainable energy, governments are doing more to hasten the shift from traditional sources. For example, Nevada's solar access laws grant you the right to install solar panels in Las Vegas and generate electricity.
Some utilities allow net metering, a program that credits your account if you produce excess solar-generated electricity to the grid. That way, you'll receive cheaper electricity for future consumption. The federal government, through the Investment Tax Credit (ITC), also provides incentives. For example, you might qualify for tax credits of up to 26% of the cost of solar installation.
-
Avoid fluctuating utility bills
There's no guarantee that you'll always pay the prevailing electricity rates. The cost might rise in the future and affect your finances. A solar system insulates you from these fluctuations. After making the initial investment, you'll enjoy inexpensive electricity with minimal maintenance for the next 25 to 30 years.
By installing solar panels in Las Vegas, you're contributing to reducing America's dependence on foreign energy sources. You also help to create jobs along the solar supply chain.
If you're ready to install solar panels in Las Vegas, Cooper Roofing & Solar is your go-to contractor. Our highly skilled and experienced technicians are always on standby to address your concerns. Please schedule a free estimate today for more details.