The reality of monthly bills after retirement can put a damper on a post-career lifestyle, but the addition of solar panels at home may be the key to a secure financial future.
EnergySage is a resource with free tools to help homeowners get quick solar installation estimates. According to EnergySage, going solar "can be one of the smartest retirement investment strategies, especially given today's rising electricity rates."
Installing solar panels can slash that hefty electric bill, which allows retirees to keep extra cash in their pockets each month. Going solar protects homeowners from rising electricity rates, which have increased by more than 38% over the past decade, per the U.S. Energy Information Administration.
"A key thing for retirees to consider is cash outflow because you no longer have a cash inflow from a job," Jeffrey Walker, an EnergySage client, said. "I looked into solar as I noticed what was happening to electricity prices. Now that I'm retired, it certainly helps reduce monthly expenditures on electricity."
Not only can retirees save money with solar panels, but they also help the environment by reducing planet-heating pollution. While most power in the U.S. comes from dirty energy sources like oil and gas, solar energy is a clean and renewable energy source.
According to EnergySage, there's another benefit for homeowners considering a move after retirement. Studies have shown that solar panels increase the value of a home, as homebuyers are willing to pay more when solar is already installed.
Going solar is the ultimate home energy hack for retirees because it reduces energy costs to practically nothing. Homeowners can compare quotes from installers for free thanks to EnergySage, which also provides a mapping tool that shows the average cost of a solar panel system based on location.
With the help of EnergySage, homeowners can get nearly $10,000 in incentives for solar purchases and installations. However, those hoping to take advantage of the solar tax incentives should act soon. Congress eliminated the Investment Tax Credit, which means homeowners need to complete their solar installations by the end of the year to claim the 30% tax credit.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers that can help you save as much as $10k on installation. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best local options for your needs, and their expert advisers can help you compare quotes and pick a winner. |
Retirees might also want to invest in more money-saving electric appliances, like heat pumps, that become even cheaper when powered by solar. Mitsubishi is a great resource for those in the market for an affordable heat pump.
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Which of these factors is the biggest obstacle preventing you from getting solar panels? Click your choice to see results and speak your mind. |
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