- Save Money
As soon as your solar panels are connected, you’ll start saving money. A typical solar panel system has a life span of 20 to 35 years, so you’ll have lower electricity bills for decades to come. In the southern half of the United States, solar panel systems have a payback period of about 9 to 11 years. That means you’ll have an additional 10 to 25 years of additional savings. A typical solar system lifetime savings is $30,000 to $45,000. Your electricity bill should drop by 80 percent or more every month.
- Get a Tax Credit
The federal government offers a tax credit of up to 26 percent for solar panel systems installed through 2022. For example, if your solar panel installation costs $10,000, you earn a tax credit of $2,600. If you also install a battery storage unit for extra power produced by your panels, it’s also eligible for the tax credit. By installing a solar panel array on your LifeStyle home now, you can start saving today and enjoy a big reduction on your federal income tax bill.
- Add Value to Your Home
If you choose to sell your home, your solar system will add value to it. Compared to homes in the same area with the same square footage and interior features, a home with a solar system will sell for a price about 4.1 percent higher than a home that lacks a solar panel installation.
At LifeStyle Homes, we work hard to create homes that are both beautiful and environmentally sustainable. We provide a wide range of custom-built and readymade designs, so it’s easy to find the right house for you and your family. If you’d like to learn more about our sustainable, eco-friendly building methods, get in touch with us today.