Is 2020 Still a Good Year to Install Solar Panels?

Many people are aware of the numerous benefits of installing solar panels. Solar panels enable you to save on energy costs, enjoy tax breaks, and protect the environment. But if you haven't yet made this investment, you may think that it's too late to harvest solar power. The cost-benefit analysis of installing solar panels in 2020 is more promising than during previous years.

The COVID-19 pandemic has highlighted the importance of being energy independent and investing in sustainability. By generating power safely and naturally, you can insulate yourself and your family from the unpredictability of today's world.   

1. Continue saving on energy costs

Installing solar panels is an excellent way of saving on energy costs. Because modern homes use more energy than ever before (to power numerous electronic devices), relying on public utility companies could expose you to fluctuations in supply. Solar panels give you the independence necessary to power your home. Solar power is also cheaper than many other types of energy, and you can now use solar calculators to keep track of how much energy you generate and consume.

In addition to saving money, tax breaks for using clean and renewable energy are expanding to cover many different households. You can claim deductions for equipment costs and for putting power back to your local grid.

2. Become more self-sufficient

The COVID-19 pandemic has highlighted just how important it is to be self-sufficient. As much as people rely on each other in many different aspects of their lives, solar panels give you the independence necessary to respond during emergencies and unforeseen events such as pandemics.

For example, COVID-19 has caused significant disruptions in the supply chain. And for people who are working from home, being energy independent allows them to remain agile while keeping their company operations intact. Even if you need to use more energy every day, having solar panels in place insulates you against high costs.  

3. Increase the resale value of your home

Installing solar panels is an investment. This equipment increases your home's resale value because the new owner can enjoy lower costs, tax deductions, and energy independence. Furthermore, installation is the most involving part of harvesting solar energy. Once the equipment is in place, it can be used for years to generate clean and renewable energy with minimal maintenance. The owner can simply "plug and play" into your home's existing solar infrastructure, which is a significant marketing tool for any potential seller.  

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