Are you considering installing solar panels for your home or business? Solar panels can be a great investment that not only saves you money and increases the value of your property, but also helps the environment while it's helping your wallet and bank account.
Solar power is fast becoming price competitive with conventional energy sources, and in states like California, New Jersey, Arizona, Colorado, and more, there are great rebates and incentives in place to compensate you for the power you produce and help offset your initial investment cost. There are also an expanding number of solar financing options and in many cases you can get solar panels installed on your home and be cash flow positive on your investment within the first year!
As the solar industry has grown and matured over the last decade, the cost to put solar panels on your home have decreased significantly, dropping over 40% in just the last few years. There's never been a better time to make the move to solar for renewable clean energy for your home or business. The section below describes what you need to consider as to determine whether solar is the right choice for you.
ENERGY EFFICIENCY OF YOUR HOME
Have you made the low cost, easy to implement changes that can reduce your energy bill before you replace your utility company with a clean, renewable solar panel system? Taking simple steps like switching to CFL light bulbs, energy star appliances, using smart power strips that turn off electronics when not in use, and making sure your windows, door, and insulation are keeping your energy inside can make a huge difference in your energy usage. It's called Demand Management. If you haven't made these changes yet, there are professionals who conduct energy audits on your home, and can show you how to cut down your costs.
YOUR HOME'S ROOF
Does your home have unobstructed south facing roof space? That's the ideal setting for solar panels, but often times an east-west roof with good exposure, or even a ground mounted system if you have an unobstructed area can work just as well. You'll just want to make sure there isn't any shading at any point of the day on the surface you intend to install solar panels on, because it can reduce the effectiveness of your system.
FEDERAL TAX CREDITS EXTENDED THROUGH 2017The Emergency Economic Stabilization Act of 2008, which was signed into law on October 1, 2008, contains renewable energy legislation which is great news for our solar customers. Not only was the 30% commercial solar investment tax credit extended through 2017, but the same tax credit was also extended to residential installations.
Under this legislation the previous $2,000 cap for residential solar installations was eliminated. This means that, as of January 1, 2009, the purchase of a residential solar electric system makes you eligible for a tax credit equal to 30% of the cost of your solar system, including installation. See full information on how you may use the tax credit.
If the federal tax credit exceeds your tax liability, the excess amount may be carried forward to the succeeding taxable year. If you do not earn enough to pay taxes to the U.S. Treasury, you may apply for 30% of the cost of the solar or wind system in the form of a Renewable Energy Grant.FREE HOME SOLAR CONSULTATION
If you'd like a free consultation regarding solar energy installation, contact us today. Moore Solar LLC's team can help you decide if an investment in solar is right for you!
Courtesy of SPI
