Smiling family in front of house with solar panels. /Stock Photo

With solar power costs estimated to drop 25 percent by 2022, consumers can rejoice at the already 4.4 percent drop in solar costs per annum. But that doesn’t mean that solar is inexpensive, it only means that it’s less expensive than before.

Apart from the effect that solar energy has on the environment, it also has the potential to save the homeowner a significant amount in utility costs.

Getting those panels installed in order to enjoy solar power savings can be a tremendous financial outlay, and here’s how homeowners can jump through those hoops.

Keep An Eye Out For Innovative Designs

Tesla is looking to start installations of their glass solar roof tiles in the near future, which is promising to revolutionize solar technology.

The glass roof tiles are a more attractive solution to solar panels, and the total installation cost is far less than the combination of solar panels and traditional roof tiles.

While there is a waiting list for the product, this might just be the solar product worth waiting for.

Financial Institutions Have Green Initiatives

While banks are becoming more aware of climate change and vow to do their part with green loans and other initiatives, not everyone may want to fund their solar panels with a loan.

A great way to avoid the finance route is through regular savings.

The process to open up a money market account is fairly simple and ideal for this project. By saving up for the installation, the interest of the loan won’t negate the savings of the solar installation.

Find Out About Local Government Initiatives and Tax Reductions

A 30 percent rebate on a home upgrade seems very reasonable and for qualifying homeowners, government will cover that much of the cost should the installation meet the terms and conditions.

For homeowners, the dramatic savings could mean reduced power bills sooner than they thought possible.

The rebate also applies to other green upgrades, allowing homeowners maximum benefit when they do their bit for the environment.

It’s estimated that those who install solar panels will break even within 15 to 25 years, which is a great incentive for those who have found their forever home.

Solar energy is no longer just a nice-to-have, it is fast becoming an integral part of home renovations in order to reduce our carbon footprint.

Those who happen to be in high-density areas will also benefit from solar during power outages.

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