Here are some Statics
Huge Savings
Whether you’re a homeowner, business, or nonprofit, electricity costs can make up a large portion of your monthly expenses. With a solar system, you’ll generate free power for your system’s entire 30+ year lifecycle. It’s smart for your bottom line and it’s smart for the planet.
Outstanding ROI
Solar is one of the best ways to invest, with returns on investment (ROI) rivaling those of more traditional investments like stocks and bonds. Thanks to substantial electricity bill savings and the 30% solar tax credit, the average homeowner pays off their solar panel system in 4-6 years and sees an average ROI of 3-400% over the life of the system!
What is the federal
solar tax credit?
The federal residential solar energy credit is a tax credit that can be claimed on federal income taxes for a percentage of the cost of a solar PV system paid for by the taxpayer. (Other types of renewable energy are also eligible for similar credits but are beyond the scope of this guidance.)
The installation of the system must be complete during the tax year.
Solar PV systems installed in 2020 and 2021 are eligible for a 26% tax credit. In August 2022, Congress passed an extension of the ITC, raising it to
30% for the installation of which was between 2022-2032. (Systems installed on or before December 31, 2019 were also eligible for a 30% tax credit.) It will decrease to 26% for systems installed in 2033 and to 22% for systems installed in 2034. The tax credit expires starting in 2035 unless Congress renews it.
There is no maximum amount that can be claimed.
Energy.gov United States Office of Energy Efficiency & Renewable Energy
Protect against Raising Energy Costs
Another great benefit of solar is the ability to hedge utility prices and gain greater control over future expenses. This is especially important as we move into retirement and fixed incomes. Electricity prices have gone up an average of 4% per year with higher increases expected for the future. By investing in a solar energy system now, you can protect your family against unpredictable increases in energy costs.
Increased Property Value
Solar panels can more than pay for themselves by increasing the value of your home. Homes equipped with solar energy systems have higher property values and sell more quickly than non-solar homes. Here's why: Enhanced Curb Appeal: Solar panels add a modern, eco-friendly touch to your home's exterior, boosting its curb appeal .Energy Savings: Reduced energy bills are not only an immediate benefit to you but also an attractive selling point for future buyers. Income Generation: Excess electricity generation can result in selling power back to the grid or receiving credits, adding value to your property cost.
Added Value
Environmentally Conscious
Solar-equipped homes send a clear message of commitment to sustainability, appealing to eco-conscious buyers.
Energy Independence
Solar panels provide a degree of energy independence, reducing reliance on traditional power sources.
Faster Sale
Homes with solar panels tend to sell faster in the real estate market, thanks to their long-term benefits.
Higher Resale Value: Studies show that solar-equipped homes command higher resale prices, providing a return on investment that often exceeds the installation cost.
In summary, installing solar panels is a smart financial decision that enhances your home's value.
Supports our Local Community and Economy
By going solar, you help with local grid stability by reducing demand and providing clean energy to you and your neighbors. By choosing a local solar company, you make your dollar go a long way. Not only do you support the success of our local economy by spurring job growth and providing fair wage jobs for our neighbors, you stimulate local spending and tax revenues which directly supports our schools, roads, infrastructure and services.
Good for the Planet, Good for our Future
Unlike conventional electricity, solar energy does not pollute. Solar is a great way to reduce your carbon footprint and gain peace of mind from knowing you’re doing the right thing for the planet. One kilowatt of energy produced by solar panels prevents 300lbs of C02 from being emitted into the atmosphere. A typical residential solar system will eliminate 3-4 tons of carbon emissions each year—the equivalent of planting over 100 trees annually.
