How Can I Save Money with Solar Energy?

We want to help you understand how to save money by using solar energy.

And as a quick aside --- we are here to help you purchase a new tractor when the time is right.    

Let’s get to it.

Definition

Let’s start out by defining solar power --- as it is often misunderstood. 

Solar power is the process of converting the energy from sunlight into electricity. 

This happens either directly using photovoltaics (PV) --- indirectly using concentrated solar power --- or a combination.

Concentrated solar power systems use mirrors or lenses and solar tracking systems to focus a large area of sunlight into a small beam. Photovoltaic cells convert light into an electric current using the photovoltaic effect.

The technology is proven and works great. 

You may be wondering how you can financially benefit from it.  Let’s go through four ways. 

Home Value 

This one is straightforward and predictable. 

When you have solar panels, the value of your home increases.

Buyers know that solar panels equate to a lower electric bill. 

Some experts say that the average solar panel investment increases a typical home’s resale value by about 3.5 percent.

And speaking of electric bills. 

Electric Bill

With solar panels, you will see a dramatic drop in your electric bills.

Solar panels get installed on your roof.  They harvest energy from the sun.  The panels become your personal mini power plant.

Resale 

It is possible to resell your unused power. 

Sound crazy?

You may find that you are only using half of the power your solar panels are taking in. 

The rest of that power could be sold back to your local power company.

You could find yourself getting a check once a year or more, from your local power company. 

And finally…

Credit

To encourage Americans to take on renewable energy, the federal government created the Residential Renewable Energy Tax Credit.

The federal government will give you a 30% tax credit toward the costs of your system.

This would include site preparation and the labor to install it.

Check with the federal government for more information.  There are multiple online resources filled with information. 

Experts predict that it takes roughly 7 years to recoup the investment in a solar panel system. 

Off-grid

You can also use solar power if you want to live off the grid. 

Just keep in mind that the cost of the backup battery system will not be as cost effective.

Regardless, it is possible to go completely off grid using the solar panel system.  You could use your solar panel system to charge your backup batteries, so you have power at night. 

Hopefully, this brief article about saving with solar power has helped you a bit. 

If you need any further help, or have any questions about solar energy and panels, tractors, or anything else, please contact your dealer, local mechanic, or call us at 602-734-9944.  Please ask about our current new and used tractor supply.

Team Tractor Ranch - #1 Tractor Dealer in Arizona. We sell and service most major brands of tractors including Yanmar, Kubota, John Deere, TYM, Mahindra, Kioti, Case, New Holland, Massey Ferguson, Ford, Deutz, Case IH, Farmall, International Harvester, Branson Tractors, LS, Shibura, Claas Tractor, McCormick Tractors, Valtra, Solis, YTO, Montana, and Nortrac.