The sun is a powerful source of energy, so why not use the sunlight, and slash your utility bill? Solar power is taking over the U.S. one household and business at a time. Understandably so! Solar power utilizes energy from the sun and transforms it into electricity to power your home or business. More houses and businesses are switching to clean, renewable electricity sources, and are benefiting in more ways than one.
1. Renewable Energy Source
Solar power is 100% renewable energy. What does this mean? Because the energy is harvested from the sun, it is essentially unlimited. As long as there is sun, there will be solar energy.
Solar panels will pull in energy throughout the day, converting it into electricity, otherwise known as the photovoltaic effect.
2. Low Maintenance Costs
Solar energy systems do not generally require a lot of maintenance. Once they are installed, all you need to do is make sure they are kept clean. Clean them a couple of times a year, and they should last you forever. Many companies, like Go Solar, will offer warranties on your solar panels and the rest of the system. The only thing that may need to be changed every 5-10 years is the inverter, which converts the D.C. current of the sun to the A.C. current all buildings use. The inverter is always working because it is what takes in all of the sun’s energy and converts it into electricity.
3. Save Thousands Of Dollars!
Going solar is a smart investment regardless of where you live, but how much you can save depends on the utility rates and solar policies in your area. You could drastically reduce your electric bill or even eliminate it completely!
Your savings come from SRECS(solar renewable energy certificates). This incentive allows you to sell certificates for energy to your utility. You earn one SREC for every 1000 kilowatt hours produced by your solar panel system. An SREC can be worth over $300 in certain states.
A typical solar panel system is 5 kW, which will produce 5-8 MWh of electricity per year. If the SREC is worth $100, then you can make $500 to $800 per year just from the SRECs.
4. Federal Tax Incentives
If you decide to buy solar panels and convert to solar power, you will receive some tax benefits. Federal Incentives include:
- 26% tax credit for systems placed in service after 12/31/2019 and before 01/01/2021
- 22% tax credit for systems placed in service after 12/31/2020 and before 01/01/2022
- 10% tax credit for systems placed in service after 01/01/2022 (COMMERCIAL ONLY)
The home served by the system does not have to be the taxpayer’s principal residence.
If the federal tax credit exceeds your tax liability, the excess amount may be carried forward to the succeeding taxable years. There is no ceiling on the tax credit, and it applies to equipment, permit, and installation costs
5. Increased Home Value
Studies have shown that homes with solar energy systems sell for more than homes without them. In some parts of the country, going solar will actually increase your property value more than would a kitchen renovation.
With so many benefits to using renewable energy, it is a no brainer as to why so many people are switching to solar power. Going solar has never been easier! If you want to gather some information on solar energy and how much it would cost you, Go Solar Energy can help. We will provide you answers to any questions you have, and will provide free quotes on solar panels and installation in your region. Our highly trained agents will go through the whole process with you, free of charge! Start saving thousands of dollars. Enter your zip code on the homepage to get started, or speak directly to one of our agents by calling (888) 290-3112. It’s as easy as that- no obligation and no hassle!