Have you thought about installing a solar energy system in your home? By harnessing the power of the sun through solar panels, you can store energy in a battery bank and power your entire home. So what’s holding you back?
For most people, the answer is the cost. However, most solar power companies provide payment plans for their customers, which means you don’t have to pay the entire bill upfront.
But more importantly, we need to talk about saving with solar. You can save thousands of dollars in the first year alone, and that’s just the tip of the iceberg.
Keep reading to learn about the potential energy and money savings you could enjoy by switching to solar.
First, going green and saving with solar means no more electricity bills. If you invest in a solar system that’s large enough to power your entire home, you can say goodbye to the local energy companies.
For most homeowners, this means saving $115 a month. Though this might not seem like a large chunk of change, you need to think long-term. For example, over 10 years, your solar system will pay for itself on your energy savings alone.
Increased Home Equity
Did you know that installing solar panels will also increase the value of your home? This may not mean saving money initially, but if you ever go to sell your house, you can raise your asking price significantly.
If you don’t plan on selling your house, the added equity can still be put to good use. For example, you can pull it out of your mortgage to pay off other debts, finance renovation projects, and more.
Most states have individual programs to encourage people to start saving with solar. For example, some states monitor the amount of energy you produce and will reward you with cash simply for creating your own energy. There are also net metering programs that allow you to sell energy back to the local energy companies.
Some states even have property tax exemption laws for people who install solar. You won’t be accountable for paying extra taxes because of the increased value of your home due to solar updates.
Solar providers like Blue Raven Solar Company have a plethora of information regarding the state incentives for each of the areas they provide services to. Check out their website to learn more about the solar incentives you’re eligible for.
Federal Tax Savings
Finally, let’s take a quick look at saving with solar through the federal government. Yes, paying for an entire solar system can set you back. However, Uncle Sam will refund you up to 26% of your costs.
Work with a professional accountant to record all of your expenses and file your taxes. They can help you ensure you get the federal tax credits you deserve.
Ready to Start Saving with Solar?
If you still aren’t sure about going green, you should also consider the environmental benefits. You can reduce your carbon footprint and do your part to help heal the planet. Otherwise, you can simply enjoy saving with solar.
For more information on homeownership or green energy, don’t go anywhere. Our blog is full of content created to help people like you. Check out some of our other articles before you go to find more information to help you improve your life.