We are still in the early days of the solar revolution. Currently, solar power only accounts for around 3.4% of electricity generated in the US, and a handful of homeowners know the benefits of it well, including saving money!
Looking for opportunities to save money is a virtue to hold throughout your entire life but especially in retirement. One of the best ways is energy independence. Let’s talk about that.
Benefits Of Solar Energy For Florida Retirees
It’s no secret that people move to Florida to retire. Why not? There are more people around your age, good benefits, and no more harsh winters. You get to live out your golden years in the sun, which offers more benefits than leisure!
There are a lot of benefits of choosing to use solar energy, especially right now, and especially in Florida. There are plenty of reasons people may want to add solar panels to their homes but retirement is likely the best time to do so. Here are a few of the key benefits that solar energy offers.
Reduced Carbon Footprint
This is a benefit to you, everyone you know, and everyone on the planet. Making the switch to an electric car means nothing if the electricity doesn’t come from clean energy. Not only that, your car doesn’t emit nearly as much carbon as your home. You can use a carbon calculator to estimate how much your home emits every year for a general idea.
When you’re retired, you spend a lot of time at home, which only increases your carbon output if you don’t do something about it. Well, when you spend the whole day running your air conditioning and keeping your house lit at night, it’s hard to limit your emissions without some type of carbon offset.
There’s no better source to offset your carbonized energy in Florida than to use the most abundant resource, the sun. Not only that, but you will also be able to convince your neighbors and loved ones to do the same, leading to a more clean and energy-independent community.
Solar panels don’t make noise, they aren’t in your face, and they don’t waste space in your yard or your home. Solar panels sit seamlessly on your roof and you don’t even notice them after enough time. They become part of the house itself.
Have you ever run a gas or diesel generator during a storm? If so, it will be a breath of fresh air (literally) to know your electricity is being generated right outside your home without ever hearing a peep.
Long-Term Home Value
If you’re looking to move in 10 years or pass your home down to the next generation, you need to be considering the long-term value of your home. Solar panels have an excellent ROI, increasing the value of a home by 4.1% on average. That means that a $400,000 home could see a $16,400 increase in sale value.
Solar panels not only offset energy costs for potential buyers but also offer an aesthetic appeal. Solar panels, when properly installed, accent the look of a house and offer a more modern look to them. This combination will only increase the value of your home.
Electric Bill Savings
In retirement, social security will only get you so far. If you’re relying on a retirement fund as your primary funding, even if you saved up a lot during your career, it’s still a finite amount of money. Because of this, a budget is critical. Looking for every opportunity to save money will go a long way.
Since you’re planning on living well past 100, purchasing solar panels in early retirement is an excellent investment. Not only will it increase your home value in the event you plan to sell your home, but it will also save you money every month on utilities.
Well, solar panels can dramatically reduce your utility spending, especially over the long term. Look for companies that offer flexible financing, the right warranty packages, and the right prices to maximize your savings!
Imagine, you’re all done with your mortgage, you cut your utility expenses down, what else do you have? Property taxes?
What do Americans like more than saving money? Saving money on taxes.
It’s very important to note that these tax credits are currently being phased out over the coming years as the demand for solar increases. If you want to maximize your savings, now is the right time.
In fact, the current tax credits alone will offset up to 30% of the total cost of your installation and more benefits on an annual basis on top of your utility savings. Learn more about current solar rebates and incentives and take advantage of this offer while it lasts!
The best part is that you won’t even have to notice the cost of your solar panels if you choose the right financing options. You can get financing with interest rates below 4% and only make payments the size of the difference on your electric bill.
That means you can go from renting your power system to owning it without ever paying extra for them, and still receive all of the benefits we already mentioned!
This means that anybody can afford solar panels, which used to be a symbol of wealth only a decade ago. So, if anybody can get them and there are so many benefits, why don’t more people have them? That’s exactly our point.
How Energy Independence Helps Secure Your Retirement
Retirement is about moving on. You want to worry less and live more. However, when you only have a finite amount of funding, it can cause a lot of anxiety in the world of retirees. Luckily, there are plenty of ways that energy independence can help you achieve that sense of security you need in retirement, and here are just a few of them.
Let’s imagine that you purchase the right residential batteries along with your solar panels. Well, if you live on the East Coast, which is ravaged by hurricanes every year, you probably know what it’s like to experience power outages.
If you have solar panels and the batteries to back them up, you won’t need a generator to keep your refrigerator running. Excess energy that is absorbed by the solar panels will be stored in these batteries as backups in the event of a power outage, offering you more security and independence in the event of a major storm.
The warranties on your panels will also offer you some extra security from any nightmare scenarios you can imagine. Does your utility company offer those benefits?
Making Early Retirement Possible
If you’re not quite at retirement age yet, you should still be thinking about it. Even if you’re in your twenties, you can still be thinking ahead and making decisions now that could lead you to early retirement.
Remember that retirement is a numbers game. You need to save enough money or generate enough consistent passive (or semi-passive) income to cover your monthly expenses for as long as you plan to live (again, well past 100).
Well, having a house paid off and an independent power source for that house eliminates the need for two of your biggest monthly expenses. If you’re looking to buy a house, consider saving up enough to install solar panels (or get them financed) along with the purchase.
This will maximize the amount of time you have to pay everything off and prepare to dramatically reduce your monthly expenses later on. If you’re able to do that by the time you’re 55, you may be looking at an extra decade of retirement!
If you want to do out the math and see for yourself, try using a retirement calculator with your current mortgage and utility cost factored into your expenses during retirement. Then, try it without those expenses to see how big of a difference it makes. You will be surprised.
Peace Of Mind
Having the ability to keep your power during a storm, have more leverage in selling your home, and not relying on anybody for your energy needs gives you a genuine sense of security during retirement.
When you finally end your career, the thing you most look forward to is not being told what to do anymore and taking control over your life permanently. Well, not having to worry about an energy company shutting off your power definitely allows you to do that!
How To Get Started
If you live in Florida, it’s easy to see why solar energy is the obvious choice for gaining energy independence. We don’t have much in the way of wind and our rainstorms may be frequent but they usually only last a couple of hours.
With all of the benefits listed above, you may be wondering how to get started on your path to energy independence. Let’s jump right into that.
Figure Out How Much You Need
Based on the size of your home, the natural light in your area, and your household energy consumption, you will require a certain amount of panels in order to become truly energy independent.
You will have to determine how many hours of sunlight you receive, where you can keep your panels, how many watts you use, and more before you can make a concrete figure. You can read more about finding out how many panels you need to get a better idea.
Determine If You Need Repairs First
If the panels are going on your roof and your roof needs work, it is in your best interest to address that first. If the panels are going in your yard, accommodations will need to be made first before installation.
Simply figure out what needs to be done on your end before the installation process begins. This will depend on your circumstances but it could include financing, spatial issues, light obstruction, or a number of other issues. If you determine what they are and address them promptly, you won’t have any issues going forward.
Make Sure Your House Can Use Solar
It is important to note that some houses can’t use solar panels. In Florida, that isn’t usually the case. However, if you have a metal roof, low sunlight, an old roof or wiring system, or anything that may interfere, it’s best to have it checked by a professional to see if your house can use solar panels.
Talk To The Experts
The most important step on this list is to talk to the professionals within the solar industry. Every house, financial situation, and more are completely different and will need to be accounted for. Schedule a consultation with the experts and see what will work best for you.
This will give you the best insight into how much you can save, how feasible it is to achieve complete energy independence, and what will work best for your situation.
Once you’ve had your consultation, you’d be surprised how quickly it can turn into new panels on your roof. The professionals can handle everything from financing to installation right after you call, making the process extremely easy.
Achieve Your Independence Today!
There’s no doubt that energy independence offers numerous benefits to homeowners, especially in their retirement. If you’re ready to start seeing some of those benefits, now is the best time to maximize your savings and tax incentives! Stay up to date with our latest solar news and check out our installation services today!