The sun is an important renewable energy source that provides more energy within an hour than the world's population consumes over the run of a year. If you want to focus on sustainability in your home, we recommend the installation of solar panels which is found in most houses in Dubai. But is this investment also financially worthwhile? Five good reasons to buy a solar system can be found here.
Good Reasons to Invest in Solar Energy
Viewed as a financial product, a photovoltaic system has an annual return potential of 10 to 30 percent or more. With each country offering different incentives and tax breaks, yields can vary by location. But on average, a solar system pays for itself within eight years, delivering free electricity and thus reducing energy costs. Modern solar panels have a lifespan of more than 25 years. With maintenance costs kept to a minimum, the systems save more than twenty years.
Steady Growth of the Investment Return
Electricity prices differ from region to region. But no matter what country you reside, prices are rising year after year. Conversely, this means that your annual return on capital will grow accordingly. After all, you can save money by avoiding high energy costs.
Tax Benefits and Discounts
A third reason that speaks for the investment in photovoltaic is the promotion by the state. In the United States, the state granted until 2016 tax credits for investment in solar systems. For example, investors were able to claim 30% of their acquisition costs in their income tax return. Meanwhile, individual states offer different benefits, such as tax rebates or discounts.
Potential Revenue Through Feed-in
If your photovoltaic system generates more electricity than you need, you channel the surplus energy into the national grid for a fee. Many countries, including China and Australia, offer this model to motivate their residents to invest in solar power. In Great Britain contracts with the twenty-year term. The prices per kilowatt-hour specified are linked to the inflation measurement of the retail price index.
Value Increase of your Property
Finally, the installation of a solar system can improve the worth of your home. The environmental friendliness of residential properties is increasingly important for buyers. Photovoltaic-equipped real estate is therefore very popular. Invest in visually appealing solar panels that blend effortlessly with the roof covering to maximize the worth of your home.
As you can see, there are considerations before buying a photovoltaic system. Consider factors such as current power consumption, geography, and regional benefits. Only then can you realistically assess the return potential. However, as energy costs are rising steadily and the installation of solar panels is becoming cheaper and cheaper, investing in renewable energy makes perfect sense!