All solar investments provide excellent returns on your investment. You get to save big on electricity costs and enjoy the added value of a green lifestyle.
But which type of solar investment provides you with the highest return? Here, we’ll briefly discuss how different solar investments can benefit your Ormond Beach home.
Solar Water Heaters
Solar water heaters offer the highest percentage of return on investment. Despite the seemingly higher initial price, they can help you offset huge water heating expenses. In fact, with the right system and proper installation, they can save you up to 50-80% of your hot water costs.
It is a fact that electric water heaters use more energy and very quickly. And with the ever-rising cost of electricity, your monthly bills can easily overwhelm you. On the other hand, solar water heaters can eliminate the need for electricity completely.
A solar system relies on the sun’s energy and can supply your Ormond Beach home with free hot water for years. With time, you can easily offset the initial cost of installation.
Photovoltaic Panels (PV)
Photovoltaic (PV) panels also offer a great return on investment. You will typically see these panels on the rooftops of many homes in Ormond Beach, New Smyrna Beach, Ponce Inlet, and DeLand. Part of what makes them an excellent investment is the utilization of sunshine.
Being in the Sunshine State means you will need very little electricity from the grid. Depending on the number of panels you install, you can even replace all your electricity needs with the help of solar power.
Besides cheaper energy, photovoltaic panels also affect federal tax credits worth up to 30% of the total cost. That means you get a return of the same amount back as part of your tax savings. That is an excellent incentive for solar power users across the state. (1)
Enjoy A Higher Return on Investment with Solar
At Wayne Solar, we have seen first-hand how much of a difference solar can make for our clients. You can get more out of your money by taking advantage of the sunshine at your disposal. As a top solar contractor with over 30 years of experience, we can help you, too.
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