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The growth of the renewable energy industry has been influenced by the demand for cleaner sources of energy and sustainable consumption.
Furthermore, the growing support for environmental, sustainability, and governance (ESG) initiatives will likely open new avenues and opportunities within the industry.
However, the initial cost of installing a solar panel system deters a lot of people. But, using energy from the sun can be beneficial, not only to the environment but to your finances as well.
What are the Benefits of Installing Solar Panels?
There are several benefits of having a solar system in your home. This article will discuss four benefits of solar panel installation. Here are the four benefits:
1. Clean and Renewable Source of Energy
Solar panels can help reduce the levels of carbon dioxide (CO2) emissions trapped in the atmosphere.
The survival of humans and other species depends on greenhouse gases trapping enough heat from the sun to ensure Earth’s climate is habitable.
The increase in CO2 in the atmosphere has caused an excess amount of carbon dioxide trapped in the atmosphere.
Human activity is a major contributing factor and source of the increasing carbon dioxide emissions. The high concentrations of carbon dioxide trapped in the atmosphere are a result of activities such as the burning of fossil fuels and deforestation.
High concentrations of CO2 have caused major changes in the weather patterns, increased wildfires, shrinking of water supplies, changes in food supplies, and many other climates change effects.
Therefore, switching to solar energy will mitigate the issue of emitting too much CO2. Solar energy doesn’t produce any carbon dioxide in the atmosphere, thus reducing your carbon footprint.
The energy produced by the sun is renewable, CO2-free, and clean. It doesn’t cause any other greenhouse gases that may be harmful to the planet.
Furthermore, the use of solar energy reduces dependence on renewable energy and replaces the need for electricity powered by fossil fuels.
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2. Promoting Sustainable Development
Installing solar panels on your property means that you’re playing an active role in shaping the future of our planet.
One of the reasons the United Nations (UN) established the Sustainable Development Goals was to make protecting our planet a universal goal to be achieved by 2030.
The SDGs and the UN75 initiative, in line with the Paris Agreement, aimed to take action and achieve sustainable consumption and production patterns.
You can play your part in achieving that goal by using solar energy. This means that you can play an instrumental role in mitigating the damage caused by toxic substances or contaminants on the environment and human beings.
Using solar power helps ensure a clean and sustainable planet for future generations. This also helps reduce the impact of climate change and environmental threats on least developed countries and landlocked developing countries. Therefore, solar panels can help ensure better air, water, and land quality.
3. Economic Benefits
The first thing you should do before installing a system is to do your research on the types of systems available. You want to make sure that you don’t waste your money buying a system that doesn’t cater to your specific needs.
If you’re considering installing panels, you should make sure that you hire the best solar roofing company that will provide you with a system that’s tailored to your needs. Here are some of the economic benefits of installing a solar panel:
Cost Savings
Installing panels will have high initial expenses, but, in the long run, will be offset by the savings on your utility bills. The cost of using power generated by coal has increased over the years as a result of the diminishing supply.
Therefore, if you install panels on your roof, you won’t be affected by electricity price hikes as much.
Increase in Property Value and Tax Benefits
Installing panels can make your home more desirable, therefore, increase your property value. Moreover, you can enjoy the tax benefits of having solar panels.
Buyers that are eco-conscious to save on costs in the future are likely to pay thousands more for a property with a solar panel system than those that don’t have one.
The factors influencing the increase in property value are but aren’t limited to, the price of local solar installation, location of your home, system age, output, and replacement value.
The benefits of solar energy on the environment give you access to incentives that can help you economically. These include cash and tax rebates to offset the cost of a solar panel system and solar tax credits or exemptions.
4. Job Growth
The solar energy industry is growing and people embrace a more sustainable way to produce electricity. This means that there’ll be an increase in solar power jobs.
From solar energy manufacturing, installation, distribution, and support services, to a growth in employment in this sector.
It’s estimated that solar photovoltaic installers’ jobs are expected to grow to 50.5% by 2029. By installing a system, you’re playing a role in reducing the unemployment rate.
Conclusion
The installation of panels on your roof will have long-term rewards to you as well as on the environment.
While the benefits are appealing, it’s important to note that there are also disadvantages to installing solar panels.
You should access the disadvantages before installing them. Research the different types of solar panels you can install in your home and hire the best company to guide you through the process of installation.
