The cost of solar panel installation may seem intimidating at first, but opting for solar energy could save you more money than you think. With the many available incentives and rebates, plus the long-term cost savings of going solar, installing solar panels is an economical decision in the long run. Here are some of the ways you can save with solar installation.
1. Tax Credits
First of all, you may be eligible for tax credits due to solar panel installation. Federal and state governments often provide credits or tax breaks to those who install solar panels. This can help offset the cost of your installation and reduce the initial investment significantly. Generally, the tax credit is equal to 30 percent of the total system cost. This makes solar installation a more affordable option for many homeowners.
Adding solar panels can also allow you to take advantage of incentives offered by your state or utility company. Incentives vary based on location and could include money back on your purchase, free installation, or free solar panels. Some utility companies even offer a program where you can lease solar equipment and get a monthly credit on your energy bills. These incentives make it much more affordable to switch to solar energy.
3. Electricity Savings
Solar energy provides significant savings on your electricity bills. These panels convert the sun’s energy into electricity, allowing you to power your home with renewable energy. You may no longer need to purchase electricity from your utility company and can instead rely on free solar energy. Depending on how much your electricity needs are met by solar, you could save hundreds or even thousands of dollars a year.
4. Added Value to Home
Installing solar panels can also add value to your home. Solar energy is becoming increasingly popular, and many potential buyers are looking for homes with this green feature. This means having solar can make your house more attractive to buyers, thus increasing its market value. Solar energy accounts for 1.8% of total U.S. electricity generation, according to the U.S. Energy Information Administration, and being part of that number can give your home an edge in the real estate market.
Choosing solar panel installation is a smart move if you want to save money in the long run. With solar energy, you can take advantage of tax credits, better home value, incentives, and more. With so many great ways to save with solar installation, it’s no wonder why more and more people are choosing to switch. If you’re ready to enjoy all of the above benefits by adding solar panels to your home, contact Suntegrity Solar today.