Establishing a secure financial future is a must as you prepare for retirement. If you’re investing for retirement, consider adding residential solar panels to the mix. When treated as an investment, solar panels provide ongoing financial benefits that make solar worth it for retirees.
Premo Solar can help you take advantage of solar panels as a retirement investment strategy. Keep reading to learn more about the financial benefits of solar, and find out whether it’s better to buy your solar energy system outright or finance it.
Solar Is a Smart Investment Strategy
Solar panels are a low-risk investment, which is one of the main reasons why they’re such a good option as you plan for retirement. Solar panels provide steady returns over the course of their 25+ year lifespan, helping you save and potentially earn money throughout your retirement.
The financial benefits of solar panels for seniors include:
Lower Electricity Bills – Solar panels can offset up to 100% of your electricity costs. The money you save on your electricity bills can free up hundreds or even thousands of dollars in cash every year, depending on how much electricity you use.
Protects Against Rising Electricity Rates – Utility rates are volatile, and we’ve seen major spikes in recent years. Installing solar panels and battery storage will help you avoid rising electricity rates so you can stabilize your living expenses during retirement.
Solar Panels Increase Home Value – Installing a solar energy system could increase the value of your home. Studies have shown that houses with solar panels sell for 4.1% more than houses without.
Tax Benefits – When you install home solar, you’ll be eligible for the 30% solar Investment Tax Credit (ITC), which was recently expanded by the Inflation Reduction Act. If you’re getting ready to retire soon, make sure you take advantage of the federal solar tax credit while you still have taxable income.
Buying vs Financing Solar Panels
You can use solar as an investment strategy no matter how you pay for your solar installation.
Buying Solar Panels Outright
Buying your solar energy system outright is typically the best option for near-retirees. When you buy outright, you will likely see faster returns and greater savings.
Financing Your Solar Panels
If you’re unable or don’t want to buy solar panels in cash, financing is always an option. When you finance your solar panels, your monthly payments will likely be lower than your electricity bills, so you can start saving money right away.
Premo Solar offers excellent zero-down solar financing and can help you choose the right option for your budget.
Ready to Explore Solar as an Investing Strategy for Your Retirement?
Solar panels are a good investment for anyone, but especially for seniors and near-retirees. If you’re interested in using solar panels as an investment opportunity, call Premo Solar today. We can provide a free quote and estimate how much you stand to save with solar.
Premo Solar is the leading solar installation company serving Monterey, Salinas, and Santa Cruz. We install premium solar panel and battery systems that maximize your financial benefits for long-term solar savings. We stand behind the quality of our work and offer a 100% satisfaction guarantee for our California solar installations.
