The Benefits of a Solar Power System for Your Home

Solar power systems are on the rise. According to the Pew Research Center, 6% of all U.S. homes are now powered either partially or completely by solar electricity. While installing and maintaining a solar power system costs money, however, it offers several benefits. Below are some of the top benefits of investing in a solar power system for your home.

Tax Credit

You'll be eligible for a tax credit after buying a solar power system. Known as the Investment Tax Credit (ITC), it's part of the Energy Policy Act. The ITC is essentially a tax credit for 26 percent of the cost of a residential or commercial solar power system. If you spend $10,000 on a new solar power system, for example, it will save you $2,600 in the form of a tax credit.

Renewable Energy

Of course, one of the main benefits of investing in a solar power system is the simple fact that it's a source of renewable energy. Power grids often generate power through other means, such as coal-burning plants. There's a finite amount of coal available, so it's not considered a source of renewable energy. Solar power, on the other hand, is available in an infinite supply, making it a source of renewable energy.

Nighttime Usage

Contrary to popular belief, solar power systems aren't restricted to daytime usage. You can use a solar power system after the sun goes down as well. It won't be able to collect any solar energy during the nighttime. Nonetheless, it can provide your home with power stored in a bank of batteries. Most solar power systems feature a battery bank. During the daytime, they'll recharge the batteries using sunlight. These batteries will then be used to provide power once the sun goes down.

No Grid Outages

You don't have to worry about grid outages with a solar power system. Even if the local power grid goes down, your home will still have power. In this regard, a solar power system can offer you energy independence. Your home won't be reliant upon a power grid. Rather, it will have its own source of clean and renewable power.

Net Metering

A lesser-known benefit of solar power systems is net metering. Net metering is an agreement with a power company. It essentially allows you to sell some of your home's excess and unused solar power to the power company. With net metering, you can actually make money with a solar power system.