Soaring prices on everything from olive oil to cilantro are affecting people's pocketbooks, and the average American is paying around $300 a month just for utilities, according to CBS News. Meanwhile, experts say energy prices are set to keep rising.
That's why it's a great time to consider rooftop solar for your home, which could save you hundreds of dollars each month.
And if you're worried about upfront costs, the Inflation Reduction Act can help out — the legislation offers a 30% tax credit for households that install rooftop solar. Plus, a number of states have their own incentive programs to help residents make the transition to solar.
Forbes estimates that installing rooftop solar panels can save you between $25,500 and $33,000 over the lifetime of your panels. It's also one of the best ways to help curb the overheating of our planet, as it helps us move away from dirty energy sources such as coal, oil, and natural gas, which account for 75% of planet-heating pollution, the U.N. reports.
Your good deed could even have cascading effects on your community. A recent study from the University of Texas at Austin found that when people installed solar panels, this reduced demand on the grid and ultimately resulted in cost savings for everyone.
This isn't just theory. In July 2024, Energy Innovation reported that states with high levels of wind and solar generation, such as New Mexico, Iowa, and Oklahoma, have experienced the lowest utility rate increases.
Plus, solar and other renewable energy alternatives can help communities build resilience against extreme weather events, which are amping up in frequency and intensity as global temperatures have risen, according to NASA.
For instance, CBS News reported that when Hurricane Ian hit Florida in 2022, a community that runs on solar power escaped most of the impacts of the storm while other nearby areas faced widespread destruction.
If you're ready to get started with solar, EnergySage has your back with free tools to help you get a quick solar installation estimate and quote comparisons.
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