In fact, doing so could help you build a retirement cushion, and you don’t even need to buy stocks. Here’s what you need to know about investing in solar panels and how solar panels help the environment.
States across the United States offer generous solar incentives. Investing in solar panels could mean never needing to pay another electric bill, although the amount you save depends on how big your house is and its location. It could be as much as several thousand dollars a year. Other incentives include solar tax credits: The federal government offers a 30 percent investment tax credit to folks who make the switch to solar. Because the credit is slated to expire at the end of 2016, it’s a good idea to move quickly. Utility solar rebates are popular in states such as Colorado where utility companies offer rebates and services to customers who use solar energy. Last but not least, referral programs run by solar energy companies can net you $300 per new installation.
Flexible financing options are another big draw. The goal of such programs is to help you go solar while minimizing the impact on your wallet. In addition, solar panels increase the value of your property. A Department of Energy study indicates that the added value tends to be about $15,000. That is a really nice benefit if you sell your home.
Investing in solar panels helps the environment in many ways, big and small. For example, did you know that 72 percent of water pollution stems from coal-fired plants? Solar energy decreases the need for these plants, and you also get cleaner drinking water. Another example is electricity production, which accounts for 31 percent of greenhouse gas emissions. More investment in solar energy means a drop in air pollution. A decrease in hazardous waste is another happy result of investing in solar panels; the United Nations Environmental Program indicates that more than 400 million tons of such waste is created every year, and in Canada alone, 30 percent of these producers do not safely dispose of the waste.
Investing in solar energy saves you money every month. Take those savings, and invest it in your retirement fund. To get started, contact EcoMark Solar for a free Colorado solar panel installation quote.