Solar panels have been spotted all over homeowners’ rooftops for the past few years. People realize they need a better solution for their energy needs, and they see that home solar panels just make sense. Look at how solar power stole the energy spotlight:
Many people wait for that day looming somewhere in the future in which they can afford solar panels for their home. You don’t need to wait.
In the US alone, solar power costs have nosedived 70 percent lower than previous decades. More specifically, installing home solar panels have dipped by 5 percent this past year. Solar power also saves you money on energy as soon as they’re up and running, helping you shoulder the initial cost of the panels.
Most people installing home solar panels will connect them to their electric company’s power grid. This way you can still use their power if your house doesn’t receive enough energy from the sun.
Here’s where we get excited, though. The real benefit of net metering comes when you generate more energy than your home can use. You can receive credits from your utility company that they then apply to your bill when you do use their power.
Of course, you will have to connect to their grid in order to receive this benefit.
Solar Tax Credits
Did you know you could receive tax credits for your solar energy system? Many states credit you with a generous sum just for making your home more energy efficient. For example, South Carolinians and New Yorkers, based on their tax situation, can receive 25% of their installation costs back, a generous offset to initial prices.
Even if your state offers no incentives for your home’s solar panels, the US federal government does. Their Solar Tax Credit (ITC) now equals 30 percent of the energy system’s cost. This credit alone bumps the upfront price tag down significantly.
Here’s where the big question comes in. When will you start profiting from your home solar panels? Obviously, breaking even will depend on where you live since some states provide more incentives.
In the US, the average time most people break even is 7-10 years. However, the time period is different for everyone depending on their own unique situation. Home solar panels also last 25-30 years on average! With some short-term patience, you will make nothing but pure profit for several decades.
Maybe your current place isn’t your dream home, and you’re wondering if adding solar panels would waste your time. It wouldn’t! Solar panels hike up your home’s value. Many people squeal when they think about buying an energy efficient home and you can certainly raise your home’s price for such enthusiasts.
Itching for your home’s solar panels right away? No problem. Once you have settled all your building plans, you can expect your panels in a matter of days. Installing them won’t take long.
The entire length of the solar process, though, depends on how quickly you plan and what you’re asking for. For example, connecting to the power grid may tack on some time, but you might shave off a few days if you need fewer solar panels.
Powering your Home
Yes, total power independence is forever the goal with solar energy. But you just can’t expect the sun to shine all the time. Solar experts expect that you’ll need a 25% window to offset those not-so-sunny days.
Still, imagine your electric company chopping off three quarters of your power bill. And after a few months of net metering, that measly one quarter will shrink also.
People all across the world are reaping the benefits of solar energy. They are seeking talent for the empty stage fossil fuels have left behind and turning the spotlight to home solar panels instead. You won’t regret installing solar energy for your home too.
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