Enphase Energy Inc.

12/10/2024 | Press release | Archived content

Discover the benefits of solar energy for homes

Understand the three key advantages of solar energy

With immediate and long-term benefits, solar energy can be a rewarding decision for several reasons. Today, a solar installation can help you reduce your home's electricity costs and environmental impact, all while lowering your dependence on grid-supplied power.

1. Financial benefits of solar energy for homes

Perhaps more than any other motivator, homeowners go solar to save money on utility bills, including protection against rising electricity rates. Whenever electricity is generated by your solar energy system, it can be consumed on-site or shared with the grid and redeemed for utility bill credits.

Therefore, the amount of money you can save with a solar energy system is directly proportional to your ongoing electricity expenses. After going solar, the average American homeowner saves approximately $1,500 per year on avoided electricity bills.

  • Solar power for home appliances: Solar power systems can greatly reduce electricity bills associated with running high-energy demand devices, such as heating systems, air conditioners, or EV chargers. Your solar savings can go even further as you reduce your property's electricity consumption with energy-efficient home improvements.
  • Solar return on investment (ROI): As you look at project costs, it's important to remember that solar energy is a long-term solution, and systems can last for 25 years or more. An outright purchase can typically minimize your total long-term energy expenses, with average solar ROI payback periods between 7 and 10 years nationwide. To avoid upfront costs, you may be able to choose from several solar financing options, including loans, leases, or power purchase agreements (PPA). It's also important to explore national and local solar tax credits, incentives, and rebates for which you may qualify.
  • Increased home value: Multiple studies have shown that when selling a home, solar panels can increase your property value if they're still actively generating electricity. However, the added value to your home can depend on your system's age, local energy prices, and the details of your solar contract.
  • Battery storage benefits: A solar battery can enable greater control of your solar power and potentially boost your long-term savings with increased self-consumption of the electricity you generate on-site. In some locations, solar battery owners can also be rewarded for exporting stored power to the grid during periods of high energy demand with cash rebates or substantial energy bill credits.

2. Environmental benefits of solar energy for homes

PV solar panels do not emit any harmful pollutants while harnessing sunlight and generating new electricity on your roof. Solar energy systems produce dramatically lower lifetime greenhouse gas emissions when compared to fossil fuel resources like coal and natural gas.

Consider that about 60% of U.S. electricity is produced by fossil fuels. Going solar can help you offset potential carbon emissions, lower pollution levels, and improve air quality in your area. Even further, energy production accounts for around 40% of water withdrawals in the U.S. Therefore, going solar can also aid ongoing water conservation efforts in some of the country's sunniest states like California, Arizona, Nevada, and Utah.

While the production, development, and disposal of solar energy systems have some environmental impact, the technology is becoming increasingly greener and remains essential in meeting local, national, and global emissions goals. In the 2020s, the solar industry is witnessing increasing levels of domestic manufacturing and responsible end-of-life processes to continuously improve the technology's total environmental impact.

3. Energy independence

The installation of solar panels with battery storage and backup can increase your energy independence from utility electricity-including the potential to sustainably power your essentials during local grid outages. Across the U.S., homeowners are electing to incorporate backups into grid-tied solar systems at increasing rates, while some batteries can even enable complete off-grid operation.

As aging infrastructure, wildfires, and severe weather events-like hurricanes, storms, and snow-can compromise ongoing access to grid-supplied power, energy independence is one of the greatest long-term benefits of solar. Some of today's premium solar batteries can also directly communicate with other home generators to optimize all of your property's independent power sources.

It's important to talk to your installer about battery storage when going solar-learn more about how it works and what energy capacity will work best for your home. The ideal battery for your property may depend on your primary energy goal and whether you want to maximize financial savings, minimize your carbon footprint, or keep systems running during local power outages.