The question of where to invest your money is on everyoneâ€™s mind. After watching investors go on a roller coaster ride these past few months with the fall of several major financial institutions, the idea of putting your money anywhere besides in your wallet is scary. However, there is an investment worthy of your hard-earned dollars: solar energy solutions.
Due to the nationwide credit crunch, the amount of unsold homes escalated and pushed construction of new homes into a steep decline. According to The New York Times, construction of new homes and apartments hit a 17-year low in August. What do low construction rates have to do with your home? It means that home values are falling, and that your homeâ€™s value might be affected. Moreover, electricity prices are risingâ€” more than the present nationwide 10% a year. As natural resources dwindle, the value of inefficient houses is set to decrease even more. It is bad enough that everyday expenses are rising with a weak dollar, but an unstable stock market combined with dropping home values and rising energy costs is downright scary.
Fortunately, California has the countryâ€™s largest solar power incentive program â€“ the California Solar Initiative. The program assists homeowners installing solar energy, and hopes to initiate the creation of a million solar roofs throughout the state.Â The rebate from the program can amount to thousands of dollars in savings by cutting down the upfront cost of installing a home solar system. In addition to the California program, the federal government and local governments like the City of Berkeley and San Francisco are offering thousands of dollars to help finance solar installations. Considering the savings you receive throughout the 25-year lifespan of a solar energy system, installing solar panels on your roof is the best investment you could make during troubled economic times.
Another reason why going green with solar is the best financial choice today is that it increases the value of your home â€“ and people want to buy solar homes. In a survey done by the Environment California Research & Policy Center, 63% of the people surveyed said they would pay more for a solar home. In another survey of solar homeowners, 77% of the homeowners reported that the solar system was an important factor in the decision to buy their new home; 84% believed a solar power system would be a selling feature if they were to sell their house; and 92% would recommend a solar home to friends. The findings show that home buyers are becoming more conscious about rising utility costs, and they want to buy a home that is energy efficient, and therefore, cost efficient. You might still be worrying about the initial cost of a solar system despite the rebates, savings and increased home value. Donâ€™t fret, there is help on the way. Sungevity and most solar companies can help customers secure good financial solutions, as can services like the Energy Efficient Mortgage (EEM) that is federally recognized and can be applied to most home mortgages. Homebuyers qualify for larger loans on energy efficient homes. Check out our case study of a solar investment in California.
In these turbulent financial times, a solar energy system is a secure investment that not only saves you money, but also solar increases the value of your home when you sell it. If youâ€™re still not convinced, contact Sungevity and we will design solar options to suit both your budget and your environmental goals, and calculate for you the financial benefits of this easy process to solar powering your future.