There are several compelling arguments for installing solar energy, but perhaps the most persuasive one, from a financial perspective, is less obvious. A home energy expert took to TikTok to break down one of solar's brightest plus points: a safeguard against inflation.
In the short clip, Matthew Solar Energy (@hernandez.solar) responds to a question about the time frame in which solar panels will save homeowners $50,000 to $60,000. He explains that the figure represents the lifetime total over 25 years, which might actually be slightly underselling it.
@hernandez.solar Replying to @kclag14 answering, "Do solar panels save you money?" And "How much money do solar panels save you?" #investment #greenenergy #solarpanels #homeimprovements #budgeting ♬ Serious - Lbandy Music
Depending on the state, the savings can be much larger. For example, data from EnergySage suggests residents in Massachusetts could save a massive $174,268 over 25 years. Neighboring Connecticut ($127,672) and Rhode Island ($130,355) are other big solar savers nationally. These represent lifetime savings, but as the video points out, the savings can begin immediately.
The clip explains that the typical solar panel payment is around $140 a month, so if the home's electricity bill was around $200 a month before, that's an extra $60 monthly right off the bat. Matthew points out, "That $140 is going to stay the same while electricity keeps going up." So the gap between the fixed payment and the former utility bill will only widen over time. "It's a protection against inflation," he said.
He compares it to the difference between owning and renting, correctly pointing out that rents are skyrocketing while mortgages are largely static. A decade ago, the median rent in the United States was $994; now it's $1,650, according to iProperty Management.
Rooftop solar panels are becoming increasingly popular in the United States, no matter the household's political affiliation. More solar energy means less reliance on polluting fossil fuels and more economic opportunity for local communities.
The main sticking point for most homeowners is the upfront cost. Luckily, online platforms now make it easier to navigate federal and state incentives to help with steep installation prices. Free online services like EnergySage allow homeowners to compare quotes and feel more confident in their solar decisions. These free tools can help buyers find trusted installers and deals that can reduce energy bills and curb their carbon pollution.
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