Photovoltaics, also known as PV, have led the solar industry since the 1950’s. Solar PV directly converts sunlight into electricity to offer more immediate and widespread use in the home. There is an abundance of applications for solar PV in your home. Here’s just a few ways solar PV can be used:
- Solar PV can provide all your electricity. A solar electric system helps alleviate the need for electricity. They plug, via an inverter, directly into your electric panel and can also be tied to your community electrical grid. Depending on the size, a PV system can provide up to 100% of your electricity.
- Looking to save money? A Solar PV system will do this. Granted, there are some initial costs, but you will ultimately reduce or eliminate your monthly electric bill and the need for fossil-fueled electricity. In almost every case, a PV system will eventually pay for itself in energy savings. It’s been reported that a typical residential PV system would pay for itself in 5 to 10 years.
- Would you believe a solar PV system can actually help make you money? Well, not only can you earn money, but if your state or utility offers net metering, you can get paid for the excess electricity your system generates. Programs vary, but most utility companies will purchase your net excess generation (NEG) from you at the end of your annual billing cycle. They usually do this at their retail or avoided-cost rate.
- A solar PV system can increase your home value. A rule of thumb for property value and solar PV systems is that for every dollar of energy savings in the first year, your home value will increase by 20 dollars. For example, if you save $500 in your first year, that’s a $10,000 increase in value! Don’t forget, several states offer property tax exemptions for all or part of that increase.
- Help protect the environment with solar PV. According to the Department of Energy, every kilowatt of PV-made electricity offsets 830 pounds of nitrogen, 1,500 pounds of sulfur dioxide and 217,000 pounds of carbon dioxide every year.
There is no doubt, solar PV systems offer tremendous benefits. The only downside is the up-front costs of installation. Don’t let yourself be put off by the initial costs, state rebates and incentives make solar power a possibility for many homeowners and businesses. Not only can PV help you in numerous ways, it is a huge advantage to the earth and everyone on it. Talk to a qualified solar installer today and see firsthand what PV can do for you.