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Dec 01

10 Benefits of Using Solar Energy

Reading Time: 6 mins

With the prices of electricity continually increasing, and homeowners being more aware of the environment, more people are looking for alternative methods to power their homes. Electricity can be an extremely expensive way to power a home and can also lead to many issues with the environment, contributing to global warming and pollution. 

This is where solar energy comes in. Solar energy has many benefits, from reducing your energy bill to being a much better and more renewable resource for the environment. It brings an additional level of guarantee and by switching to solar energy, you can also rest safe in the knowledge that you have helped with job creation. It is estimated that by 2050, the solar sector will account for 22.2 million jobs and will represent 64% of all of the energy jobs around the planet. This shows what a rapidly increasing and strong industry the solar power industry is to work in and contribute to.

To help with understanding more about solar energy, we have put together a guide on ten of the top benefits of using solar energy.

 

What is solar energy? 

Before looking into the benefits of solar energy, it’s a good idea to look into a quick overview of what exactly solar energy is. 

Solar energy is energy that is made possible due to the sun’s radiation. By using the rays and heat of the sun, we can convert this into energy that is then used as electricity or heat within our homes. The way we collect the energy source is through the use of solar panels that can be installed onto many things, most commonly the roofs of houses and on the top of boats. 

Solar panels come with solar cells which collect the energy from the sun. Solar cells require daylight to charge up and produce the power which circulates around your home. A common misconception is that for solar power to work, you need to have bright sunshine, when in fact this isn’t true. For solar panels to convert light to electricity, it doesn’t necessarily require direct sunlight, just regular daylight is usually enough to charge it. 

 

The Benefits Of Solar Energy

By reading the above you will have already gauged there are plenty of benefits to using solar energy as a power source. Below we look more in-depth into the benefits of using solar energy. 

 

Solar Energy Can Reduce Your Energy Bill

By using solar power as your source of energy at your home, you will be using less energy from utility suppliers. This will instantly cut down your monthly or annual electricity bill, allowing you to save and spend your savings elsewhere. Plus a major benefit to using solar panels is that if you use less electricity than you generate, you can sell it back to the grid. This means you can make money and in theory, use that to make your energy bill even lower. There are many different solar companies out there and with some research, you can benefit from the many different grants available. 

 

Most Places Can Use Solar Energy

The key to being able to use solar energy is having daylight and sunshine to power them up. Luckily, there are many places in the world that have plenty of sunshine that can be used and converted to energy. This can be very beneficial to destinations that struggle to access electricity through the more conventional route. Solar panels can be installed in more deprived or harder to access areas, allowing them to use electricity which can have a huge benefit to their standard of living. Solar energy is also being utilised in a variety of other ways, for example on boats. Ships are able to install them, allowing them to benefit from lower running costs and helping the planet at the same time. Seeing as ships can be a big pollutant to the planet, this can make a big difference.

 

Insurance 

When you look at the energy prices over the years you can see there is a steady increase in the price. By installing solar panels, you are protected against the increase in the rates. This is due to the fact that you are producing your own energy through a natural source, instead of relying on the energy company to produce and provide it for you. As the price of electricity continues to increase throughout the years, you can feel rest assured that these prices will not affect you if you have solar panels. Most likely you will notice as the years go by, more and more people will turn to solar energy as it can be extremely cost-effective, so why not get ahead of the trend?

 

Good For The Environment 

Of course, the environmental impact is a huge benefit to solar energy. When compared to other sources of energy, you will be quick to notice that solar panels cause very little damage to the environment. The energy that Solar panels produce do not produce greenhouse gases, therefore reducing the greenhouse effect. Solar panels also need very little water for its upkeep. When comparing this to other sources like nuclear power plants that require huge amounts more you can see what a great resource it really is.

 

Energy Independence

When using a utility company you will be relying on them to produce the energy for you. If there is a storm, or something happens to their energy supply this will have a direct effect on you. By investing in having solar panels installed, you are then in charge of your own energy supply. When there are unfortunate errors within the energy system, this won’t affect you and you will still have electricity and heating within your home. 

 

Versatile installation

Due to the different shapes and sizes of solar panels, you can install them in a whole variety of places. Some people will opt to install them on the roof of their property, whilst others will use the spare space in the garden to install them. With the installation process not being too big a job, you can discuss this with the company installing them in advance to decide on the best place to put them in order for you to get the greatest energy benefit from them. As the development of solar energy improves year in year out, they will keep on becoming even more versatile. 

 

Low Maintenance Costs

When it comes to the maintenance of solar energy systems, the majority of them require very little upkeep. The main thing that you will need to do is make sure they are clean, so making sure you give them a clean a couple of times a year is of vital importance. If you don’t feel comfortable doing it yourself, there are plenty of specialist cleaning companies who will come and do it for you at an affordable cost. 

When it comes to the maintenance costs of solar energy, you also want to take into consideration that most suppliers will include a certain level of warranty with them.

 

Government Incentives 

Due to the many benefits solar energy provides, many governments are offering incentives for you to have them installed. In December 2020, Congress passed an extension of the ITC, which provides a 26% tax credit for systems installed in 2020-2022, and 22% for systems installed in 2023. This will not only help make having solar panels more affordable for you but you will also benefit from the unused energy being bought off of you as mentioned above. 

 

Increase Your Property Value

With a whole plethora of benefits behind having solar panels installed, the knock-on effect is you may benefit from an increase in property value. Many properties that have solar panels installed, tend to be more valuable than properties that do not. In fact, it is said solar panels add around 4.1% to a home’s value. When you think logically about solar panels, it makes sense that you will have an increase as they make your home a more energy-efficient place and you save money on your monthly and annual bills. 

 

Job Creation

Although there are many more important benefits to Solar energy, a small one that may be missed within the midst is job creation. By having solar-powered things installed such as solar panels, you will require people to install them as well as create them and continue to improve them. The more people that want to use solar energy, the greater the demand, therefore, requiring more staff to keep up with demand. This is great for creating new jobs and helping the economy and local communities. 

 

Summary

Overall there are many benefits to switching to solar energy. Before committing, make sure you do your research and speak to a provider as they will be able to explain the whole process to you.  Are you considering solar energy and having solar panels installed into your property? What benefits would you like to share from having solar energy? Is there anything that you would like to add to the above? Let us know in the comment box below, we would love to hear from you.

 

Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.

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