Old vs. New Solar Panels: Which Ones Should You Choose?
Are you looking into why you should start using solar panels?
One common reason people switch to solar energy is to reduce their carbon footprints. Installing solar panels helps combat greenhouse emissions. It reduces our dependence on burning fossil fuels for energy.
Did you know that there are more than 2 million successful solar panel installations in the US alone? More and more people are opting for new solar panels to run homes and businesses.
However, should you go for old or new solar panels?
Saves You Money in the Long Run
Did you know that an average American family spends $115 every month on electricity alone? That’s $1380 each year, and it can go up to $2016!
Harvesting solar energy is one way to lessen this burden by generating clean power. Solar panels can save you as much as $10,000 to $ 80,000 for the whole lifespan of your installation. This protects consumers against inevitable hikes in electric rates in the future.
Know What Type of Solar Panels You Need
Over the recent years, solar panel efficiency has climbed from 15% to over 20%. New efficient solar panels can convert up to 22% of energy harvested from the sun. These new panels also have high-temperature performance.
New solar panel technology like monocrystalline panels can reduce light-induced degradation (LID). This causes a loss of performance that arises during the first exposure to sunlight.
New Solar Panels Have Long-time Warranty
Solar panel performance does lessen over time. Solar Panels lose the efficiency of about 1% every year. This is the reason why solar panel companies offer 20 up to 25 years of warranty.
Going for new ensures that your solar panels go well over your warranty! This also plays a significant role in case you’d want to sell your property in the future. Research shows buyers put more value in houses with rooftop solar panel installations.
Solar Panels have a wide variety of uses that can help communities in far-flung areas:
- Solar electric power generation
- Solar thermal power generation
- Solar water distillation
These are only three of the major applications of solar panels. New advances in solar panels raise the living standards in many communities. One important application mentioned is solar water distillation in water-challenged places like Tanzania.
Tax Credits, Exemption, and Rebates
Did you know that you get a rebate of up to 30% from solar panel installation costs you spent? You can save approximately $7,500 of every $25,00 you spend. Some states offer solar tax exemption, including both sales and property tax exemptions.
Sales tax exemption reduces the upfront costs of solar panel installation. Thirty-six states also offer property tax exemptions. This allows solar panel installations more workable in commercial and residential areas.
You can learn more about it at https://blueravensolar.com/utah/.
Expect More From Going Green
Investing in renewable solar energy can earn you your investment back in about 3.5 years. New solar panels’ warranties can last up to 25 years. This makes solar energy a financial product that can earn you up to 30% in returns!
Want to know why it’s best to get new solar panels? Check out the rest of our guides if you want to learn more about solar panels.