Eco-friendly Housing Project: 4 Benefits of Using Solar PV Technology

In the aftermath of increasing population and rapid industrialisation, the need to make energy efficient home improvements has increased manifold. In the U.S. alone, more than 20 million American multifamily households are lesser energy efficient than single family residential structures, making it imperative for multifamily owners to include energy efficient solutions in their buildings. Incorporating energy efficiency improvements to multifamily rental property, not only allows property owners to reduce their carbon footprint, but also help them save big on their energy bills.Continuing the discussion further, here are four benefits of including solar photovoltaic technology in your multifamily property. Take a look.

1. Cost Effective

Conventional forms of energy are not able to suffice the rapidly increasing population, thereby giving rise to increasing demand for alternative forms of energy. Incorporating solar PV technology in multifamily buildings that house low income residents, can help significantly reduce electricity expenses. In addition, the operation cost of solar electricity has reduced to approximately 80 percent since 2009, allowing solar PV energy to be an alternatively cost effective solution for residential units.

2. Better Incentives

Multifamily owners can also avail various federal tax incentives, by incorporating solar PV energy and other eco-friendly energy solutions in their multifamily rental property. By investing in clean solar energy, multifamily owners turn their building into an eco-friendly multi-family rental property, and save big due to both reduced electricity bills and tax rebates.

3. Reduced Carbon Emissions

Photovoltaic cells used in solar panels help convert solar energy into readily available clean electricity, without emitting harmful greenhouse gases. Opting for solar electricity instead of combusting fossil fuels, not only helps improve the quality of air, it also helps minimize global warming and other climatic changes.

4. Energy Independence

Conventional energy resources such as fossil fuel and timber are both volatile and steadily depreciating resources. Solar PV energy, on the other hand, is not only non-volatile in nature, but is also naturally available. Solar electricity panels are both durable and have negligible maintenance costs. Multifamily property owners can combine energy storage with perennially available solar energy, to devise an energy-efficient solution for their property, even when there is a power outage or rates of unit electricity increase.

Wrapping Up

Solar photovoltaic (PV) panels present an incredible opportunity for multifamily owners to reduce not only their electricity bills, but also their property carbon footprint. Governments also implementing many policies and tax incentive to encourage multifamily housing owners to opt for cleaner, and more energy efficient solutions for their buildings. As a multifamily owner, you need to make sure that you hire a reputable multifamily contractor who can help you choose the right energy efficient solutions.