New Mexico has so much to offer its locals and tourists that its nickname is the Land of Enchantment. Its scenic beauty, various art forms, and diverse history are all reasons for it to earn such a nickname. But that is not all that is great about New Mexico. The state is leading in terms of renewable and solar energy initiatives.
If you are thinking about harnessing the power of solar New Mexico is the state that has the 16th rank in the whole of the United States when it comes to the number of solar panel installations. The state’s solar installation is enough to power and maintains about 2,00,000 households. Such commitment to solar energy also opened more jobs to citizens in the state.
If you are from New Mexico and have not yet got the conviction that you should shift to a renewable energy source, read the following points about going solar:
It Helps You Drastically Reduce or Eliminate Your Monthly Electricity Bills.
It does not matter if you are a home or business owner; rising electricity costs can take up a considerable chunk of anyone’s monthly budget. If you go solar, you can generate clean and free power that can last more than twenty-five years. Even if you do not go completely solar, you can still significantly reduce your bill and save more money.
It can Help You Earn ROI.
Considering the prospect of investing in a beneficial renewable energy form, which is solar, New Mexico is a great place. Solar panels are not expensive, and as an investment, you can expect returns as high as bonds and stocks. If you substantially save on your monthly electricity bill, you can pay off your solar panel in about seven years and expect a Return on Investment of about twenty percent.
You can Save Your Household or Business from Increasing Energy Costs.
One of the deals about solar panels is their power and capacity to hedge the prices of utilities. Within the last ten years, the prices of residential electricity increased by leaps and bounds. This raise was about a three percent annual increase, and it led to more burdens for consumers. If you invest in a solar energy system, you can protect yourself against the unforeseeable electricity price increase. Apart from that, you can also set a fixed rate for your electricity cost.
If you are a home or business owner with problems in fluctuating cash flow, investing in a solar energy system can help you manage your monthly expenses more efficiently.
It Can Also Help You Increase the Value of Your Property.
The real estate market trend shows that houses that fully adopt solar energy systems tend to have better values. Besides, these houses also sell more quickly compared to non-solar homes. In valuing properties, appraisees take solar installations into serious consideration. Homebuyers are now more and more educated when it comes to solar energy systems in homes. There is a projection that this demand for solar-equipped properties will grow even further in the coming years.
You, your household, or your business can enjoy plenty of benefits when you invest in a solar energy system. The initial cost of setting up such a system might overwhelm you, but if you look at it as an investment, you can decide more easily.