Benefits of Solar Panel
Saving MoneyUtility prices are consistently on the rise, with national average utility prices nearly doubling since 2013. Due to factors like inflation, every year, utility prices go up 3-4%. Going solar will help protect you against the inevitable rise of these prices. Generating electricity from your solar panels can significantly reduce or eliminate your monthly electricity bill. Once you become your own power plant, you essentially cut out the middleman and start putting money back in your pockets
Increase your Homes Property ValueWith the current advances in solar technology, solar panels are now less bulky, giving them a more desirable look. A new solar panel system will not only enhance the overall aesthetics of your home but also increase the value of your home and make your home more attractive to buyers. Studies have shown that homes equipped with solar panels sell for a premium over similar homes in their neighborhood and sell twice as fast.
Good for our Planet
The electricity generated from solar panels is entirely emission-free, therefore, helping decrease the effects of harmful carbon emissions on our planet. Equipping your home with an appropriately sized solar panel system allows you to offset your home's carbon emissions that were typically generated by burning fossil fuels.The average home solar system offsets tens of thousands of gallons of CO2, which is roughly equivalent to planting 1000 trees. Solar energy also reduces our countries demand for foreign oil, giving us a pathway to energy independence. you can help brighten our children’s future by making the switch to clean renewable energy.
Federal Tax IncentivesThe United States government has created incentive programs to help homeowners take advantage of the incredible benifits of solar power. The investment tax credit (ICT), known as the federal solar tax credit, allows homeowners to deduct 30% of the cost of installing a solar panel system from there federal taxes. As of 2019, the tax credit remains at 30% percent of the cost of the system; however, these tax incentives will decrease over time. Homeowners must act fast to take advantage of the solar tax credits before there gone.
In addition to the federal tax incentives, various programs are set in place to help homeowners offset the cost of there solar panel system.
Net energy metering (NEM) is a special billing arrangement between the homeowner and the utility provider that credits the homeowners for any surplus energy generated by the solar panels. When the solar panels generate excess electricity, they feed that energy into the local electrical grid making the homes meter spin backward and earn credits.You can then use this credit to get power at night and during cloudy weather. Homeowners with existing Oncor ”SMART” meters can now reduce power bills 93% by “Going Solar” without spending a penny out of pocket!
The Smart InvestmentInvesting in energy independence by going solar is a great way to invest your money. Solar panels can deliver returns between 10 and 30%, which is par if not slightly better than stocks and bonds. One important difference is that with solar most of your returns are in the form of savings not income so they aren't taxable which means more money actually ends up in your bank account. This unique concept of electricity ownership protects you from the future rise in utility prices.
Contact one of our experts to learn more about the benifts and insentives of switching to solar today.