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Why Homes Should Invest in Solar Energy

April 8, 2020 by Guest Poster 1 Comment

Solar Energy

The following is a guest post from a reader named Greg Petersen. I have been so busy homeschooling kids and going crazy in isolation that I haven’t been able to get into the flow of writing. I also find it very hard to write on personal finance topics when there are so many things that are more important. However, I was so impressed at the research and references to my other solar articles that I felt it was worth running. At a time like this, I doubt too many people are consider solar energy, but if you have some time on your hands to do the research now, maybe it will make sense when things look better.

The news about the polar shift and different natural catastrophes being experienced in different parts of the world has made the idea of going green and going off the grid seem a lot more appealing. With climate change and other man-made destruction identified as the possible reasons for the earth’s outcry, many people are seriously thinking about using clean energy.

The constant earthquakes in different parts of the world, the sudden drop in temperature in Afghanistan, and bushfires in Australia are all indications of how serious the earth’s condition really is. These global catastrophes are not something one person can solve. Instead, these concerns need a more urgent, unified effort from the people of the world.

If you are still not convinced of the urgency of going green and shifting to solar energy, here are some points of contention that might sway you in the right direction.

Solar power is environmentally-friendly

One common but underrated fact about solar energy is that it’s a green and clean energy source. This means that when you shift to solar power, you are significantly reducing your carbon footprint. With solar power, nothing hazardous is being released to the air that might pollute mother nature. And since solar energy does not release greenhouse gases, it does not use other resources. Given these factors, one can say that solar energy is 100% environmentally-friendly and safe.

In addition, solar power is also self-sustaining. If you install solar panels on your roof, you are on a path to contributing to the earth’s sustainable future. Plus, your home will offer proof of your personal commitment to mother nature.

Solar energy paves the way for a cleaner renewable power source that not only benefits homeowners but also the environment. Compared to other alternative sources of energy, solar power reduces the local and global carbon footprint, significantly contributing to the efforts of reducing greenhouse gases. This energy source is known for its favorable impact and advantages to the environment.

In the U.S. electricity is mostly generated from natural gas, coal, and other fossil fuels. The process of extracting and converting fossil fuels into viable energy sources is not only expensive but also detrimental to the environment. Solar energy, on the other hand, is abundant and free. If you could capture all of the sun’s energy for an hour, you could produce power for the entire world that would last for a year.

If you invest in solar energy, you take a proactive stance in reducing the world’s reliance on fossil fuels. In the process, you’re pursuing a more consistent and abundant energy source — the sun.

Solar energy helps limit the emission of greenhouse gases

If you generate electricity using solar power instead of natural gas or coal, you can dramatically decrease the volume of greenhouse gas emissions, especially carbon dioxide. Greenhouse gases are produced through fossil fuel burning, leading to the rise in global temperatures and climate change. The latter contributes largely to public health and environmental issues; including ecosystem changes, rising sea levels, and extreme weather events.

If you go solar, you can help reduce the rising demand for fossil fuels while shrinking your carbon footprint and limiting your greenhouse gas emissions. A single home that opts for a solar energy system can create a measurable impact on the health of the environment. The U.S. Energy Information Administration stated that an average home using solar panels in Connecticut consumes 8,288 kWh of electricity every year. If that home was switched from fossil fuels to solar power, the homeowners could reduce emissions significantly and create a positive effect on the environment equal to planting 150 trees a year.

The average electricity use in New York homes is at 7,248 kWh per year. If these homes switched to a cleaner energy source like solar power, they could reduce the carbon emissions that result from burning more than 5,000 pounds of coal every year.

Solar energy helps decrease cardio and respiratory health issues

One of the most persuasive reasons why one should invest in solar energy is its effects on our health. With such a clean energy source, you can expect that there will be less air pollutants. According to the National Renewable Energy Laboratory (NREL), with more people shifting to a solar power system, there would be lesser emissions of sulfur dioxide, nitrous oxides, and other particulate matter. Aside from this, NREL also found out that solar power helps decrease cardiovascular conditions, respiratory problems, and chronic bronchitis. Worker productivity will also increase as people experience less illness.

With solar power you can go off-the-grid

Compared to electricity, solar panels are less costly. Traditional electricity significantly relies on fossil fuels like natural gas and coal. These substances are all detrimental to the environment. They are also not sustainable energy resources. As a result, the market for energy resources is volatile, with prices fluctuating violently all through the day.

If you choose solar electricity, your independence from electricity will be boosted further. If you invest in a 4KW-size solar system, a common size for domestic use, you can spare yourself from the ever-fluctuating utility prices. With a cheap and clean electricity source, you won’t feel guilty enjoying your appliances all day long. After all, the sun will never increase its consumption rate. The sun will give you the energy security you need.

The moment your solar panels are installed securely on the roof of your house, technically, you already reached the status of a person that’s energy-independent. Plus, the storage systems of your solar battery will allow you to safely store electricity for use during rainy days and nighttime.

Underutilized land can be used with solar power

If after all that has been said you are still not sold on the idea of installing your own solar power, think of the unused lands that have been left unattended. With solar energy, you can transform these untended lands into areas that can be used to generate more solar power.

Energy shortage is a worldwide phenomenon. Especially now that the threats of natural calamities and disasters are almost everywhere, the topic of energy sufficiency is more than timely. And since everyone is using electricity, it is time to join hands in a collective effort to capture more solar power.

People can harvest solar power in large quantities from solar farms. A 45-acre farm is able to provide electricity in more than 2,500 home volume of energy. The amount of solar energy that can be sourced here is more than enough to power a town, city, state, or even country. People and nations will no longer have to suffer from high-priced electricity costs and unclean energy sources that will end up destroying the environment.

Enjoy a lower energy bill

If you don’t want to go completely off the grid, you can still benefit from a solar panel-powered home. The generation of solar power happens primarily in the afternoon when the sun is up. More solar power can also be generated during summertime. This is the perfect answer to the high energy need during this time of the day and season of the year. It’s in the afternoon when it’s so hot that most homeowners turn on their air conditioners.

Solar energy is valuable in the sense that other energy production methods like natural gas plants that are used to meet the highest energy demands end up being overly expensive. Before the new utility pricing scheme was introduced, homeowners were charged with a flat rate for electricity. This means it doesn’t matter what time of the day they used electricity, they pay a fixed monthly rate. If you install and use a solar power system during this time, you can’t really feel the benefit. It’s like the cost of installation of your solar power system offsets the cost of your electricity bill.

Fortunately, a vast majority of the utility companies in the U.S. now adapt a new pricing scheme that charges homeowners different rates for different hours of the day. The ratio behind such a scheme is to reflect the actual electricity production cost at different times of the day. This means that you will be charged higher rates in the afternoon when the demand for electricity is at its peak, and lower rates during the night. The extent of the benefit you enjoy as a solar power system owner depends on when you use your electricity the most. This investment is most beneficial to those living in areas that implement varying pricing schemes over different seasons of the year due to seasonal demand fluctuations. Those who consume more electricity during summer will feel the most benefit from solar power.

Sell solar-generated energy to electrical companies

Apart from a significantly lowered bill, you can also get a credit from the utility company if you sell your extra solar-generated power to utility companies. Net metering plans are common in the U.S. This is where residential consumers are allowed to use the solar power that they put into the grid to offset their use of power at other times. A home is selling power to a utility company when the power that the house puts into the grid is greater than the amount of electricity their household consumed. Your monthly bill will be the basis for your net energy consumption.

As you already know, the net metering mechanism enables utility customers to feed their saved-up and unused solar electricity back to the electricity grid. To fully take advantage of this benefit, you need to educate yourself on the varying net metering policies and regulations across the states. You can also refer to the Database of State Incentives for Renewables & Efficiency (DSIRE) or get in touch with the office’s local utility companies to get more specific and thorough information.

A Portland homeowner, for example, saves about $17,000, on average, if they use solar energy for more than 20 years. If you live in Boston, in the span of over 20 years of solar power usage, you can save around $43,000. If you live in Los Angeles, in the same period, your savings can spike up to more than $50,000. To get an estimate of how much you can save, check with DSIRE.

Added home value

Another benefit of using solar energy is the potential increase in the value of the home. Generally, it’s safe to assume that solar panels will raise the market value of most homes. As already discussed above, the homeowner can forever benefit from lower electricity if they buy a house that’s powered by solar energy. Next, there’s a global trend toward green living and this also means there’s an equally increasing demand for houses that are powered by sustainable and clean energy sources that emit smaller volumes of carbon. Lastly, if you buy a home that is already powered by solar energy, the investment will be financed through the mortgage for the homebuyer. Because it’s possible to finance a mortgage for houses with solar panels already installed, this is easier and possibly more affordable than buying a house run by traditional energy sources and choosing to invest in solar panels later.

Take advantage of tax subsidies and grants

Lastly, another worthwhile advantage of going solar is the tax grants or subsidies offered by the state government. You may have already heard of the campaigns run by federal and state governments encouraging homeowners to switch to solar energy. If you do, the government offers a tax grant or subsidy to assist you in having your solar power system installed. The rationale behind these financial incentives is to encourage more homeowners to use solar panels. The final cost of the system after it is installed can be less than its sticker price. Additionally, tax credits are also given for homeowners who use solar power, which can decrease your tax bill.

One thing you want to do is check with your home insurance (such as Allstate Insurance) to make sure that your solar panels are insured. You want them to be safe from hurricanes, tornadoes, and other acts of nature.

Filed Under: Save Money On... Tagged With: solar, solar power, utilities

Energy Assessments: Free Stuff and One Secret, Sneaky Tip

November 18, 2014 by Lazy Man 5 Comments

When was the last time someone showed up at your home to save you money… and gave you over a hundred dollars worth of free stuff? This happened to me recently… and I want to share the experience with you.

A few weeks ago I wrote abour our journey to solar power I like to think that I covered it in excruciating detail at that link.

As a condition of getting the state grants to subsidize our solar panels, our energy company has to review our home. At first it seems kind of strange, but when I thought it further it made more sense. The state shouldn’t subsidize solar panels for me unless I can show that I’m focused on effectively using energy in my home. After all, if I have a refrigerator from 1970, they should tell me to buy a new refrigerator, right?

Fortunately, the energy assessment is free*! That “*” means that it isn’t really free, but comes at no additional cost to me. Every month we pay a little money for these services… similar to paying E911 on your cell-phone bill. The difference is that you can get the benefits from the energy assessment right away… and without there being an emergency.

There were three major financial benefits to getting this energy assessment… and in no particular order…

1) The solar panels that I mentioned earlier… It looks like they’ll save us tens of thousands of dollars over time.

2) I had my house scoured in detail for anything that might help me save money on electricity bill. You’d think that you might pay third party $300 for this service. And if you did, it still would likely save you money. It wasn’t looked at from just an electricity point-of-view, but also from an heating efficiency one.

As far as this assessment went, our home aced everything in flying colors. I’d love to take credit, but the previous owner did most everything. The only thing I did was go crazy with LED and LCD light-bulbs.

3) Free stuff!!! Who loves free stuff? This guy! Here’s what we got:

* Two smart power strips that are very useful for entertainment centers. The explanation is a little long for this place, but it keeps your DVR plugged in and running while your TV isn’t using “vampire power.” You want your DVR plugged in to record your shows. You don’t care about your TV using energy until you are watching it, right?

* LED Light Bulbs – Here is the secret, sneaky tip… I had a lot of LED light bulbs in the house – I wrote about it recently: Digging into LED Light Bulb Savings. I also had some Compact Fluorescent Lightbulbs (CFLs). I found that in the areas that I didn’t those light-bulbs – such as a bathroom using G25 LEDs (something that I learned afterwards), they will replace them for you! It is almost worth buying in-efficient lightbulbs just to get all the best bulbs, right?

It’s strange. I’m trying to very conscious of our energy usage and we found a ton benefits.

And sometimes you can bring your tricks to the party. I showed the energy assessment expert my HDHomeRun Prime: End Cable Box Rental Fees!. I also mentioned how it is a crazy power hog. The cable companies won’t work to make it better so consumers have to cobble a situation to make it better… and that’s what I did.

Do you have any tricks to save money on energy? If so please let me know in the comments.

Filed Under: Save Money On... Tagged With: energy, solar, utilities

Gas Dryer Savings are Worth a Big Risk

February 20, 2013 by Lazy Man 8 Comments

We are coming to the end of our time living on a military base. Our house is almost ready to move into. It only lacks a few small things… the biggest being laundry machines. That may sound weird, but military tend to bring their washers and dryers with them. It’s Uncle Sam’s bill, so I guess the theory is why not buy nice ones and bring with you. We bought the house from a military family who took theirs with them and rented to a military family who had their own.

I did some research on Consumer Reports and Whirlpool Duets with a model number of WFW94HEAW where very much near the top. The chrome color of that washer is running a hefty $1299 at Home Depot. The matching dryer is another $1400. If that sounds pricey for laundry it is. However, they are really nice and we intend to have them for a number of years. Also after yesterday’s crazy computer purchase, it is own fair to make sure the wife is happy with with the appliances. I had resigned myself to spending about $3000 with hoses, clamps, and taxes for the pair. Fortunately, due to a few deals and special buys, I was able to get the pair for $2350. I had to sacrifice the chrome look and go with basic white, but it’s well worth it.

I only hit one minor snag. While we have gas heat and a gas stove, the laundry hook-up for some reason is electric. I thought there must be gas running to laundry as well, but there isn’t. That was a major disappointment. Why? Gas is really cheap nowadays, and cheaper in general. How much cheaper is gas? Fortunately, I didn’t have to look too far to find this MSN article by Len Penzo. Having met Mr. Penzo very briefly at a personal finance conference, I knew I was at the right place when I started the article. The math is fairly complex (and the prices for electricity and gas differ throughout the country), but the conclusion was simple… the savings can be upwards of $200 a year. By going with gas, we’d likely save enough money to pay for the appliances themselves in a dozen years or so.

With today being the last day of the sale, I didn’t have time to get someone into the house and give me an estimate on moving a gas line in there. I called a few companies and they refused to give me any idea without seeing it. I did find this article on The Nest where a number of chimed in that it is usually around $250. I’ll glad give up the first year of savings to have it for the rest of the life of the home.

I bit the bullet and made the purchase. I have to hope that there’s no difficulty piping it through because Home Depot was clear that the dryer can’t be returned. I’ve got my fingers crossed.

Filed Under: Spending Tagged With: electric, gas, utilities

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