Solar power panels are more accessible and affordable for middle-class American families than ever before.
Between government rebates, tax incentives, and private investors, many families have even qualified for no-cost solar panels and installation.
But is it worth the hassle?
Are solar panels and solar energy worth it?
The short answer: Yes. They are worth it.
Is it right for you?
There are details that every homeowner should know about to get the most out of their solar power.
(See if you qualify below)
How does no-cost solar installation work?
Solar companies use this opportunity to set up a mini power station on interested homeowner’s roofs. This installation comes at completely no cost to the homeowner in exchange for an energy contract.
The homeowner gets the solar power benefits–such as saving thousands on energy bills–and the solar company gets the business.
This option is most often called the PPA or the Power Purchase Agreement program.
Homeowners can also lease to own the solar panels from a solar power company, or they can outright buy the panels.
What if I purchase the panels myself?
Homeowners who purchase the panels themselves may also access the tax incentives for clean solar energy.
The Renewable Energy Tax Credit allows for the owner of the pv solar power panels to take 30% reduction on their installation costs.
This usually saves homeowners around $9,000 total.
Owning the pv solar power arrays will also save homeowners the most money; though the upfront costs are a little more steep.
What financial help is available to me?
Homeowners and business owners alike have various federal tax credits as well as state incentives to switch to solar power panels.
- ITC (Investment Tax Credit), as discussed earlier, reduces the cost of solar installation by 30% for the owner of the solar array.
- Similar to the ITC, state tax credits also give discounts to the total cost of solar power panels, but the amount varies significantly state to state.
- SRECs, Solar Renewable Energy Certificates, are available in many states. Essentially, some states require a certain amount of energy to come from solar energy. Homeowners can sell their SRECs to other businesses that may need the credits. This can result in thousands of dollars of extra income a year.
- Cash rebates can reduce the cost of solar power panels by 10-20%. Cash rebates are usually done my utility companies and others who want to promote solar energy.
Can solar power even work for me if I live in an overcast state?
Many homeowners worry that they don’t live in an area with enough sun to reap the benefits of solar energy.
Yet places like New York and Massachusetts–states with long winters and less sun–have the highest solar installation in the country.
Why? Because these places have some of the highest electricity costs and best incentives in the country.
PV solar power is absolutely worth it. Whether you live in a very sunny place or a state known for it’s harsh winters.
Of course every state’s incentives are different. And in some states the electricity may be cheaper, so the savings may not be as drastic.
This simply means that the incentives to go solar are more in the benefits of long term transition to clean energy.
The environment impact of solar power on high-pollution areas could be large as far as health related issues and environmental poisons go.
How do I qualify for solar funding today?
Financially and health-wise, pv solar power panels are very secure and very worth it.
Solar panels can save homeowners thousands of dollars on energy bills while they clean up the environment at the same time.
The money saved can easily be used towards other necessary bills or even a much-needed vacation.
If you’re interested in a free quote and getting connected to your state and federal rebates, speak with your neighborhood solar experts just below.
Use Home Professionals pro-finder and find out if solar is right for you.