The environmental benefits of solar energy Vegas have long been established, but its financial impact is still being debated. A working paper by Stefan Reichelstein, a professor at Stanford Graduate School of Business, and Michael Yornston, a graduate student in Stanford’s Department of Management Science and Engineering, traces its economic blueprint. The paper measures the life-cycle cost of solar energy. It turns out that solar energy can make Las Vegas a better place. Here are some of the reasons:
It Lowers Electric Bills
Fossil fuels are prone to price hikes due to a volatile market. If you have a solar power system, you might spend a bit on the installation process, but you save a lot more in the long run. This is because solar energy decreases you energy bill by up to 65%. For instance, a solar water heater system may cost you around $4,000 but it decreases your bill by $600 annually. It is ,therefore, safe to say that it can pay itself in 6 to 7 years. Save yourself from issuing checks for hefty utility bills each month. Spend it on what’s going to make your life easier and happier.
You Get to Enjoy Tax Rebates
The Vegas solar energy industry outlook continues to shine brightly as new ways to lower the costs of solar panels are discovered, according to Prof. Reichelstein. Additionally, government subsidies and tax rebates are extended up to the year 2020. Solar energy is now an industry that grows much faster than a conventional energy source. There is no better time to invest in this alternative power source.
Property Value Increases
Because properties that have solar power systems promise lots of financial benefits, home buyers are willing to pay more for them. The price of a property increases by 20 times for every dollar a solar equipment saves annually, according to the National Association of Real Estate Appraisers. You might find yourself selling your property someday. The best way to make it attractive to buyers is to install a solar power system.
Save Money with Solar Energy Vegas
Las Vegas is one of the best places to invest in solar power systems because of its climate. In fact, major businesses and the city government are working together to make it the solar capital of the world.
Save on electric costs and make your home a better place with solar energy in Vegas. Contact Go Solar Las Vegas today for a free in-home evaluation.