Why investing in renewable energy benefits not only you and your wallet, but your entire community
When investing in solar energy, most folks do so for the benefits that directly affect themselves, like lower electric bills and the ability to make profit. But, did you know switching to renewable energy is also good for your neighbors, your utility company and overall your entire community?
Benefits for You
If you’re considering renewable energy solutions, like solar, to power your home, then you likely already know how it will benefit you and your family. The biggest incentive for switching to solar is green (no, I’m not talking about green energy solutions.) Money is the largest factor for folks making the jump to renewable energy. Switching to solar allows folks to save money on their monthly electric bill and even create cash flow by selling excess energy back to utility companies and generating renewable energy credits. Plus, you’re saving the planet by reducing your carbon footprint. Not to mention, setting a great example for future generations.
Benefits for Your Neighbors
So, you already know renewable energy will benefit you, but how will your neighbors be impacted? There is a belief that going solar increases your neighbors monthly electric bills, but this isn’t necessarily the case. A new 2021 study was recently released by Michigan Technological University that proved the opposite to be true: “grid-tied solar photovoltaic (PV) owners are actually subsidizing their non-PV neighbors.” This is because most PV systems are grid-tied and convert sunlight directly into electricity that is either used on-site or invested back into the grid. So, by investing in solar you’re essentially investing in the grid. Not to mention, switching to solar actually shaves down peak demands when electricity is at its most expensive.
Plus, solar-powered homes are producing little to none toxic emissions. This means they are helping to protect their neighbors from the harmful effects of using and burning fossil fuels.
In summary, those who conserve energy through renewable energy solutions are providing more energy for everyone else while doing their part to protect the environment their community lives in. So, folks who choose to go solar are actually being great neighbors.
Benefits for Your Utility Company
There seems to be a general consensus that utility companies don’t benefit from solar energy, specifically from a profit standpoint. The Michigan Technological University study begs to differ, explaining that by investing in solar, it makes it so utility companies don’t have to make as many infrastructure investments. Many utility companies are even jumping in on the solar trend and partnering with renewable energy suppliers, or developing programs to benefit themselves and their solar customers. For example, here at Cedar Creek Energy, we work with folks at Xcel Energy to help our solar customers benefit from the Xcel Energy Rewards Program. As the landscape of energy production changes, utility companies are beginning to see renewable energy suppliers as partners, not competition.
Whether you have renewable energy systems or not, you benefit from the neighbors (and utility companies) that do.
Contact us to learn more about how you, your neighbors and utility company could benefit from switching to solar.