Many people are reaping the financial benefits of rooftop solar. As global temperatures rise, rooftop solar users should get even more value from these renewable energy sources.
Solar systems significantly reduce power bills for homeowners and last for about 25 years, according to University of Michigan News. However, those who continue to use their rooftop solar well into the future will see its value increase.
The team of U-M researchers considered household electricity bill savings plus income generated from selling extra electricity to the grid, minus installation costs.
Comparing these numbers, the study found that rooftop solar will increase in future value by up to 19%. One of the key reasons is the expected increase in demand for residential air conditioning due to rising global temperatures.
"It's important for households to think of future value when building solar," said Michael Craig, the study's senior author and assistant professor of energy systems at the U-M's School for Environment and Sustainability and of industrial and operations engineering at the College of Engineering. "If households do so, our findings indicate they would see even greater value from solar, and might decide to build more."
In addition to financial gain, homes and communities with residential solar may be less dependent on the grid, making them more resilient during extreme weather events, which have grown more severe and frequent as global temperatures increase.
As the popularity of solar has increased, so have the options for providers and equipment. Those who are just getting started with solar, as well as those looking for their next solar system, can find quick answers and helpful advice from EnergySage.
The online marketplace's free tools allow you to get quick solar installation estimates and compare quotes after answering a few brief questions.
Simply answer the brief questions on its website and explore EnergySage's free tools to get quick solar installation estimates and compare quotes. After your system is in place, you can enjoy the money saved on utilities and be better equipped for the future.
🗣️ If you were to install home solar panels, which of these factors would be your primary motivation?
🔘 Energy independence ⚡
🔘 Lower power bills 💰
🔘 Helping the planet 🌎
🔘 No chance I ever go solar 🚫
🗳️ Click your choice to see results and speak your mind
"This is the first study to quantify the value of rooftop solar under climate change, and we show that households across the U.S. will realize greater cost savings from rooftop solar under future weather than under historic weather," explained lead author Mai Shi, a former U-M visiting doctoral student now at Tsinghua University in Beijing, per U-M.
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