If you own a vacation home, you understand the idea of a return on your investment. Believe it or not, a solar investment for your second property can help generate a return for you even when you’re not using it. 

In fact, according to recent research, the price of solar panels is about nine times cheaper than it was in 2006. The cost of solar energy is only one factor in your investment decision, but it’s a significant one.

If you are considering installing solar panels on your second home, keep reading this guide to learn the amazing benefits that can make it worth your time and money. 

1. Save on Energy Costs

Arguably the most significant benefit of installing solar energy on your vacation home will be the potential money you can save on energy expenses. 

With solar energy costs plummeting, installing solar panels is becoming a much more affordable investment for individuals. And this affordability translates over to savings on utility bills. According to information from Energy.gov, the amount you save will depend upon several factors such as:

• Size of the energy system
• If you buy or lease
• How much sunlight it receives
• And the local electricity rate

You can use these factors to estimate solar savings for your second property and determine if it’s right for you. 

2. Clean Energy

Not only can going solar save you money, but you will also be using a cleaner energy source. Unlike most other energy sources, solar energy does not burn fossil fuels and release carbon dioxide into the air. 

Instead, solar technology uses the light emitted from the sun to convert into usable energy. The solar panels will absorb the sun’s light, creating an electrical current in the cells. This process results in a cleaner and more sustainable approach to generating energy. 

Installing clean energy can be a major improvement on your vacation home. If you are renting it out, some people will pay extra to stay in a home equipped with clean energy. 

3. Incentives

Since solar energy is a cleaner source and doesn’t produce any air pollution, the federal government and certain states will provide solar incentives to give individuals more reason to install it. 

One of the big incentives being offered is a federal tax credit for 26 percent of the cost it takes to install, including labor and other expenses. This incentive is being provided to systems installed before January 1st, 2023. After that date, the incentive will go down to 22 percent of the total installation cost. 

 4. Get Ahead of the Trend

As countries are developing plans to reduce their carbon footprint and limit the amount of air pollution they release, renewable energy, including solar, is becoming an important topic. 

If the United States were to move towards a greener future, it might urge citizens to switch to solar. You can get ahead of the trend and take advantage of a bigger tax incentive by installing it by 2023. 

Is It Time for Solar on Your Vacation Home

If you have been considering installing solar panels on your vacation home, now may be a good time. With more incentives being offered and solar energy costs going down, now is your chance to take advantage of some incredible savings. By switching to solar, you are not only saving on energy costs, but you can also save the environment with less pollution. 

To learn more about solar energy and how it can benefit you, discover the rest of our website for more information!