There are several reasons to go solar, but the main reasons are the potential savings, what it can do to the home’s value and, of course, the environmental benefit. Solar can also add predictability to your life by locking in how much you pay for your system’s energy.
Energy cost savings: The main reason people go solar is, so they can save money on utility bills. How much you can save depends on how much electricity your household uses currently and what you forecast your needs for the future. Remember, if you don’t already own an electric vehicle, you probably will soon, which will increase your consumption. The more power you use, the more money you will save by going solar. For example, if an average household uses about 10,000 kWh per year and pays about $2,000+ per year. By going solar, an average household could save over $50,000 over the 25+ year warranty period that our solar power systems typically have.
Possible increase in the value of your home: There are several ways solar can increase home’s value. If you own solar, your home can become very enticing for a new buyer. This tells them that they can start benefiting from solar immediately, without having to wait on the installation process. This may cause your home to sell faster and at a higher price.
More predictable utility rates: When your installation company builds your custom solar system, they create it based on your specific energy needs.expenses more consistent. Imagine the peace of mind you’ll gain by being able to properly budget around a more predictable bill.
Tax Credits and Incentives for Going Solar
The Federal Tax credit (Investment Tax Credit, ITC) for solar power currently allows you to deduct up to 26% of the cost of your solar system from the annual tax you owe in a year. If you owe less than 26% of the price you paid for your system, you will only receive the amount that you owed, and can carry any remaining amount of the credit forward for up to 5 years. If you owe no Federal tax, then you won’t get anything out of the tax credit.
In 2022, the tax credit will be reduced to 26%, but this could change and drop to a lower percentage or potentially go away altogether for 2023 and beyond.
In addition to the Federaltax credit, some states offer incentives for going solar. The best way to find out what incentives are available, and which ones you qualify for is to talk to a qualified tax expert. We at Brightera are not tax experts, and hence we cannot give you tax advice. A local qualified tax professional will understand your situation and be able to give you the most relevant advice.
Better for the environment: Most of the time, people go solar for financial reasons, but at the same time, they are still helping to save the environment. Solar panels make up for the amount of carbon used to produce them in about 2 years. For the remaining decades of service life left in them, they reduce the amount of carbon produced to make electricity.
BrightEra Energy, one of the best solar companies in Florida.
With our solar panels you can make your dreams come true:
- solar panels to power your home
- solar panels to charge your electric car
- solar panels to heat your swimming pool
If you want to have your roof custom designed with Tesla’s beautiful, state-of-the-art solar panels (BrightEra Energy offers a free upgrade) click here and schedule an appointment today. https://bit.ly/BEAppointment