Benefits of Going Solar
Benefits of Going Solar
There are many reasons why businesses and homeowners should go solar, but improving the environment and cutting energy costs are the most common.
Solar is a great business and home efficiency upgrade and will reduce your carbon footprint while also improving property values.
Whether your motivations for going solar are economic, environmental, or personal, this sizable list of solar power benefits will have something for everyone. Here are some of the top reasons why solar energy is good for your businesses and home.
Drastically reduce or even eliminate your electric bills
Whether you’re a homeowner, business, or non-profit, electricity costs can make up a large portion of your monthly expenses. With a solar panel system, you’ll generate free power for your system’s entire 25+ year lifecycle. Even if you don’t produce 100 percent of the energy you consume, solar will reduce your utility bills and you’ll still save a lot of money.
Protect the environment
Solar is a great way to reduce your carbon footprint. South Africa is the world’s 14th largest emitter of greenhouse gases (GHGs). Buildings are responsible for a large percentage of all carbon emissions, and going solar can significantly decrease that percentage. A typical residential solar panel system will eliminate three to four tons of carbon emissions each year—the equivalent of planting over 100 trees annually.
Demonstrate your commitment to sustainability
Sustainability and corporate social responsibility are important components of an organization’s culture and values. They also produce bottom line results. Increasingly, consumers and communities are recognizing and rewarding businesses that choose to operate responsibly. Businesses are finding that “green” credentials are a powerful driver of consumer purchasing decisions, creating goodwill and improving business results.
Increase employee morale
Just like consumers, employees have a demonstrated appreciation for their employers’ commitment to operating responsibility. Employees share in the success and contributions of their organizations. Companies that care about their community and environment tend to have lower turnover rates, more engaged employees, and higher levels of morale.
Protect against rising energy costs
One of the most clear cut benefits of solar panels is the ability to hedge utility prices. The data from Eskom in South Africa shows that tariffs between 2007 to 2017 increased by an eye-watering 333%, with this figure set to rise to 490% by 2021. By investing in a solar energy system now, you can fix your electricity rate and protect against unpredictable increases in electricity costs. If you’re a business or homeowner with fluctuating cash flow, going solar also helps you better forecast and manage your expenses.
Earn a great return on your investment
Solar panels aren’t an expense – they’re one of the best ways to invest, with returns rivalling those of more traditional investments like stocks and bonds. Thanks to substantial electricity bill savings, the average homeowner pays off their solar panel system in seven to eight years and sees an ROI of 20 percent or more.
Increase your property value
Multiple studies have found that homes equipped with solar energy systems have higher property values and sell more quickly than non-solar homes. Appraisers are increasingly taking solar installations into consideration as they value homes at the time of a sale, and as homebuyers become more educated about solar, demand for properties equipped with solar panel systems will continue to grow.
Boost energy independence
The sun is a near-infinite source of energy and a key component of achieving energy independence. By increasing our capacity to generate electricity from the sun, we can also insulate our country from price fluctuations in global energy markets.
Companies are quickly realizing the social and economic benefits of adopting solar power. As early adopters pull ahead of the competition, many companies are exploring solar power as a way to keep up.