First-of-its-kind study reveals staggering financial benefits of rooftop solar: ‘Think the future value’

Many people are reaping the financial benefits solar on the roof. As global temperatures rise, rooftop solar users should get even more value from these renewable energy sources.

Solar systems significantly reduces energy bills for homeowners and lasts about 25 years, according to News from the University of Michigan. However, those who continue to use their rooftop solar in the future will see its value increase.

The UM research team considered the savings on the household electricity bill plus the revenue generated from selling additional electricity to the grid, minus the installation costs.

Comparing these figures, the study found that solar on the roof 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 about future value when building solar,” said Michael Craig, the study’s lead author and an assistant professor of energy systems in UM’s School for Environment and Sustainability and of industrial and operations engineering in the College of Engineering . “If households do this, our findings indicate that they would see even greater value from solar and may decide to build more.”

In addition to financial gain, housing and Community with residential solar they can be less dependent on the grid, making them more resilient over time extreme weather events, which have become more severe and more frequent as global temperatures rise.

As popularity of solar increased, so did the options for suppliers and equipment. Those new to solar, as well as those looking for their next solar system, can find quick answers and helpful tips from EnergySage.

The online market free tools allow you to get quick solar installation estimates and compare quotes after answering a few short questions.

Simply answer the short questions on its website and explore EnergySage’s free tools to get quick solar installation estimates and compare quotes. After your system is up and running, you can enjoy the money saved on utilities and be better equipped for the future.

If you were to install solar panels at home, which of these factors would be your main motivation?

Energy independence

Lower energy bills

Helping the planet

No chance of ever going solar

Click on your choice to see the results and express your opinion

“This is the first study to quantify the value of rooftop solar climate changeand we show that US households will realize greater cost savings from rooftop solar under future weather conditions than under historical weather conditions,” explained lead author Mai Shi, a former UM visiting doctoral student. now at Tsinghua University in Beijing, pers UM.

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