Solar energy is a trending, affordable, and renewable power source that people are adopting all over the world. In South Africa, though, where we’re experiencing an Eskom power crisis, more loadshedding than ever before, and the promise of sharp electricity price hikes, solar power has become an intensely hot topic.
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To that end, we’ve done a series on whether it’s worth it to get solar power in your home.
In this article, we’ll cover the top reasons why solar power could be the right fit for you, your family and your home. Please just keep in mind that these are suggested advantages and they may not be beneficial for your specific circumstances.
Here are our top 9 advantages to getting solar power installed in your home.
Pay Less For Power
We’ll start with the strongest reason, and that’s the savings. The World Energy Outlook 202 reported that solar and wind energy are currently the most affordable sources of new electricity generation in the majority of markets, so there’s reliable data showing that depending less on the power grid and more on the sun to generate your electricity will bring your energy costs down.
With the strong, regular sunshine in South Africa, you could cut your monthly electricity bill in half, offsetting your investment into solar power in as little as five years.
To be clear, the exact amount you’ll save on your electricity bill depends on the size of your solar system plus your electricity usage.
Zero Running Costs
The low operating costs are another major benefit. The only real maintenance involved with solar power includes cleaning out the panels occasionally in order to make sure that they are getting the most sunlight possible. It’s also good to note that solar power systems typically around 20 to 25 years after installation and come with a 25-year warranty.
You Could Earn Cash
You may be able to feed power back into the grid in some provinces, which gives you the chance to get paid for any excess energy you produce.
Less Stress
The lack of reliable and affordable access to electricity is extremely stressful. Even if you’re using a handy app to remind you when loadshedding is about to begin, it can still wreck your plans. With solar power, you’re less reliant on the national grid for your electricity and the less you have to worry about.
More Freedom and Control
The freedom that solar power gives you is next to none. A solar power system that is equipped with both solar panels and a home battery solution means that you decide how much power you generate, store, and use. Even during the nights or in the face of cloudy days, you still have freedom and independence.
Clean, Renewable Energy
Solar power is a renewable energy source and because it doesn’t produce greenhouse gasses and it doesn’t pollute the water, solar is one of the few sources that carry the least negative impact on the environment. Also, unlike fossil fuels, the sun isn’t going to run out any time soon.
There’s More Choice Now
Solar power technology has been around since the 1950s, so these panels have improved in their efficacy and proven to have a long lifespan. Additionally, as the demand has increased over time, there are more solar power suppliers and even more specialist financing options for homeowners.
Make Your Property More Appealing
In South Africa’s real estate market, buyers are increasingly interested in solar-powered homes and are willing to spend a little bit more for them than for comparable properties without solar power.
Tax Incentives
To promote quick private investment to help solve the energy crisis, there is a temporary expansion of the current tax incentive, Section 12B of the Income Tax Act, which allows for capital expenditure deductions for assets used in renewable energy production in private homes. Individuals who install solar panels on their rooftops can receive a rebate of 25% on the cost of new or unused panels, up to a maximum rebate of R15,000. Take note though that this rebate doesn’t include the cost for the batteries and inverters or their installation.
Is It Enough?
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