First-of-its-kind study reveals stunning financial benefits of rooftop solar: ‘Think about the future cost’

Many people are reaping financial benefits from rooftop solar. As global temperatures rise, rooftop solar users should benefit even more from these renewable energy sources.

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

The UM research team looked at savings on household energy bills plus the revenue generated by selling additional electricity to the grid, minus installation costs.

Comparing these numbers, the study found that the future cost of rooftop solar will increase by 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, senior author of the study and an assistant professor of energy systems in UM’s School of Environment and Sustainability and industrial and operations engineering in the College of Engineering. “If households do so, our results suggest they will see even greater benefits from solar energy and may decide to build more.”

In addition to the financial benefits, homes and communities with residential solar panels can be less reliant on the grid, making them more resilient during extreme weather events that are becoming more severe and frequent as global temperatures rise.

As solar energy grows in popularity, so do the options for suppliers and equipment. Those just getting started with solar energy, as well as those looking for their next solar system, can find quick answers and helpful tips from EnergySage.

Free online marketplace tools allow you to quickly get a solar installation estimate and compare quotes by answering a few quick questions.

Simply answer short questions on the website and explore EnergySage’s free tools to quickly get a solar installation estimate and compare quotes. Once your system is installed, you can save money on utilities and be better prepared for the future.

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

🔘Energy independence ⚡

🔘 Reduced electricity bills 💰

🔘Help the planet 🌎

🔘 No chance of me ever switching to solar energy 🚫

🗳️ Click on your choice to see the results and give your opinion.

“This is the first study to quantify the value of rooftop solar under climate change, and we show that households across the US will save more money from rooftop solar under future weather conditions than under historical weather conditions,” explained lead author Mai Shi, former According to UM, the UM visiting graduate student is now at Tsinghua University in Beijing.

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