If you recently bought a new home, congratulations! You’re probably still getting used to your new expenses; xeriscaping, new appliances, painting, and utility bills. The first three are one-time expenses, but your utility bills will just keep coming. And while you’re probably busy settling in, it’s worth carving out a few extra hours from your busy schedule to consider solar power’s extraordinary benefits: With the current federal incentives in place, you’re likely to discover solar power is far more affordable than you might expect, and you can also enhance the value of your home by installing a renewable energy source. Here is an overview of the top five reasons to add solar power to your new home today.
1. You’ll Save Money
One of the most popular reasons for new homeowners to look into solar is the potential to save money. Moreover, with solar you are able to lock in your energy rates for 25 years, which will protect you from future energy cost increases; New Mexico electric rates increase by almost 5% annually. So, even if savings are modest in the beginning, you’ll save even more as electricity rates rise.
2. Return on Investment – Start Now
SunPower panels come with a 25 year warranty guaranteeing quality solar energy for at least 25 years; systems typically continue to produce solar energy for 35-40 years or longer! With an average payoff in 5-10 years, the sooner you install solar panels for your New Mexico home, the sooner you’ll be producing free solar power! As the proverb goes, ‘the best time to plant a tree was 20 years ago’, so why wait?
3. You’ll Add Value to Your Home
As a new homeowner, you’re undoubtedly more focused on settling in than on considering the future sale of your home. Nonetheless, choosing solar power now is a meaningful investment in the long-term value of your home. Research conducted by the Lawrence Berkeley National Laboratory on 22,000 home sales across eight states found that new home buyers are willing to pay more for a home equipped with a solar power system. In addition to the statistical dollar value that solar panels contribute, there is also significant impact from the proactive environmental statement they represent. The global pressure to transition to other power sources will continue to grow, and future homebuyers will search even more intensely for alternative energy systems. Solar panels can give your home a competitive selling advantage.
4. You’ll Help the Environment
Home solar is a proven way to reduce your carbon footprint. Installing solar panels helps in the fight against greenhouse gas emissions through reducing the world’s usage of fossil fuels. The sun’s energy is limitless, and it’s already there, so we might as well use it to power our homes. You won’t find a cleaner energy source available at this point.
5. You’ll Get Solar Panel Tax Credits
The Solar Investment Tax Credit (ITC) is a generous federal tax credit program that reduces the amount of tax you owe on a dollar-for-dollar basis for up to 30% of the cost of your new photovoltaic (PV) system in New Mexico. But don’t wait, these credits wont be around forever.
New Mexico Solar Has Never Been Better
There are a lot of great reasons to get solar panels for your first home, but as a savvy new homeowner, you’re wondering how big the payoff is going to be. You can stop crunching the numbers—we’re here to do that for you. Learn just how much you could be saving on your energy bills today with a free solar quote.