There is no denying it, going solar saves you money! You may be wondering though, just how does installing solar panels on your roof save you money? The solar experts at Palmetto Solar want you to know all the reasons solar panel installation helps to put money back in your wallet! Here are the top 5 ways solar energy saves you money:
Tax Credit Incentives
There are generous solar tax credits available for homeowners interested in going solar. Federal solar tax credits provide 30% off your solar panel system. Some states, such as South Carolina, offer an additional 25% when you go solar. That means you can save an amazing 55% off your solar panel system.
Decreases in Solar Panel Price
Solar panel price has dropped considerably in the last several years. The International Renewable Energy Agency report that photovoltaic panel cost has dropped by 70% since 2010. Solar panel price will only continue to lower as solar technology improves and becomes more refined.
Net Metering: Selling Excess Energy Back to the Grid
If you live in South Carolina, solar homeowners can sell their excess energy back to the utility company. This process is know as net metering and refers to the agreement between solar producers and their local energy utility. A net meter is installed that monitors how much power you generate and how much you send to the utility overtime. This allows for the solar homeowner to receive a credit or compensation at a wholesale rate.
No More Rising Power Costs
When you go solar, you never have to worry about the rising costs of solar again! Installing solar pv panels on your roof releases you from the price volatility and uncertainty of utilities. Homeowners who switch to solar energy produce their own electricity and are locked in at lower rates from utility companies.
No Money Down Financing
Palmetto Solar makes your switch to solar energy easy and stress-free! We offer no money down financing. That way you can enjoy the most returns on your investment, generate your own power and drastically cut your energy costs.
If you have any other questions about how installing a solar power system saves you money, solar panel cost, or the process of going solar, please get in touch today! (855) 339-1831.