You’ve heard of alternate energy resources ranging from hydropower, wind energy, geothermal, biomass to solar energy. Not everyone is situated in a windy area to have their own pinwheel turbines nor live in the vicinity of a falling water system to power their homes and business spaces-especially not in urban areas. With so many options, only one from the examples is the most accommodating and practical to your newfound lifestyle in conserving the environment and lessening the size of your carbon footprint: solar energy.
The following are some hidden benefits you may not already know about solar energy and its potential impact on your life.
Tax Credits (varies by state)
When you invest in solar panels for your home or business through a solar energy equipment supplier, these credits are issued by the government as an incentivizing effort for you to reap this merit and the costs of installation. If you live in New York, you’re missing out on a very generous state tax credit worth 25% of the system’s cost. To better gauge this, that’s approximately $5,000. Unfortunately, 2019 is the last year New Yorkers can redeem 30% of this amazing tax credit incentive. Due to the imposition of current trade tariffs surrounding solar energy, the tax break depreciates each year by 5%, so by 2020, it will hover around 20%. If you are still on the fence about jumping on the solar energy bandwagon, you may stockpile more savings if you do it now rather than later.
Given the time-sensitive nature of these incentives, it’s crucial to act promptly if you’re considering solar energy adoption. The permitting process typically takes only 3-4 months when working with an efficient provider. This timeline allows you to capitalize on the current tax credits before they diminish further. By opting for a Solar System Installation in the near future, you can maximize your savings and position yourself to benefit from the higher incentive rates. Making this decision now could serve as a financially savvy and environmentally conscious New Year’s resolution, aligning your personal goals with broader sustainability efforts and economic benefits.
Your wallet will thank you (in due time)
Solar energy is most advantageous and cost-efficient when you live in a region with high energy rates with an appropriate solar rating, the aforementioned 25-30% tax break makes it worthwhile to install the panels. There are many claims that the panels will save you from heart-wrenching bills-and that much is true-this is not an overnight remedy.
First, review your electric bill. If you consume energy greatly, the numbers will reflect, and it means you are more likely to benefit from switching to solar panels with companies like Rooftop Solar. Keep in mind that electricity rates and usage are volatile numbers; the rates are largely dependent on your location.
The price of installation prior to the tax break ranges anywhere between $11,000-$35,000 depending on the size of the installation. The solar panels will start paying for itself within a few years to a decade before it actually starts to cover the initial cost, but the lifespan of solar panels will counteract the expenses and pay you back over time.
Higher Resale Value of Your Home
Looking to sell your home? Solar panels are nice aesthetic and monetary assets to your home and can eventually make it worth more in the real estate market. The standard 5-kilowatt system can add as much as $20,000 to your home, according to a nationwide study by the US Department of Energy’s Lawrence Berkeley National Laboratory, resale values increase an average of $4 for each additional solar watt installed. Some studies on homes in California show that homes with solar panels are claimed faster than ones that consume more energy. If you’re lucky enough to live in California, try visiting somewhere like best home solar system to check out solar options for your home. The Golden State is well known for its golden sun so it just makes sense to go solar! Remember, however, if you are still under a solar lease when trying to sell your home, the prospective buyer would have to agree to assume the future payments.
A Newer, Low-maintenance and Guilt-free You
While you are weighing in the downsides and upsides to solar energy, here’s another point to add to your growing list of pros: solar panels require little maintenance for the entirety of its lifespan. Solar panels do not contain any moving parts, nor orifices that permits any entry of debris that can make it malfunction. It cleans itself since most designs are tilted at an angle, so a lot of the dust will leave the smooth surfaces as runoff on its own. In the case where you invest in a solar roof where the plane is horizontal and there is a problem with debris, you’d contact your solar provider for servicing to remove it, as too much dust or debris can hinder the performance of solar panels. However, these instances do not occur frequently.
For areas that experiences moderate shifts in seasons such as New York, you would think that the snow would be a problem, but it’s not. It’s actually the first area that will cleanse itself of snow build-up and the tilted angle will help slide any excess off. Of course, the solar panels generate high levels of heat as it is generating electricity, so this will quickly melt the snow before it has the chance to settle.
