Taking Home Extra Money With Solar Panels

Taking Home Extra Money With Solar Panels

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Key Takeaways:

-Solar panels are a great way to take home extra money.

-You can sell excess electricity to utility companies and earn power credit or cash.

– Solar systems can save you money on electricity bills by offsetting the cost of your electric bill.

– a solar energy system can increase the resale value of your home by up to $15,000.

– Several solar rebates and incentives are available to help offset the cost of going solar.

The deteriorating global environment and rising energy bills have turned many homeowners pro-solar. In addition to generating renewable energy and helping the planet, solar panels can save homeowners a great deal of money on their energy bills. Solar panels are simple to install and don’t require a lot of upkeep, making them an excellent choice for people who want to help the environment without

spending a ton of money.

The advantages of solar energy are more far-reaching than simply being environmentally beneficial. Did you know it can also earn you money? Nations Best Roofing & Construction will tell you several benefits of solar panels for your home.

Benefits of Solar Energy for the Environment

The following are some of the most popular reasons among homeowners to install a solar system:

Benefits of Solar Energy for the Environment

Get Paid for the Electricity You Produce

When going solar, don’t just think about how much power you need for your house. You can produce excess electricity and sell it to utility companies. You can get paid for the solar energy you generate in some states. These programs are called “net metering” or “feed-in tariffs.” Contact your power company to determine whether these plans are accessible in your location.

Net metering allows you to sell the extra power produced by your solar system to the utility company. This is a convenient way to offset your energy costs. You typically get a credit on your electricity bill for the power you produce.

Feed-in tariffs are programs that pay you for the electricity you generate. Your potential earnings are based on the state in which you reside. Some states have programs that pay a fixed rate for every kilowatt-hour electricity you generate. Other states have programs that offer a certain amount of money per kilowatt of installed capacity.

Save Money on Energy Bills

Solar installations can save homeowners significant money on their energy expenses. According to EnergySage, the average U.S. homeowner can save over $10,000 over the course of 20 years by switching to solar.

Solar can save you money on electricity bills by offsetting the cost of your electric bill. You could reduce your electricity bill by 50% or even eliminate it depending upon the power production capacity of your solar system.

Increase Home Value

With solar system installation, you are not only increasing the value of your home but also doing your part to save the environment. Studies have shown that a solar energy system can increase the resale value of your home by up to $15,000. So if you’re upgrading your home, don’t forget to go green with solar power!

Solar homes may sell for more than non-solar homes in some areas because of market elements like electricity rates and system size. Several factors affect how much your property value goes up when you install solar panels, including local real estate market trends.

Get Solar Rebates and Incentives

There are a number of solar rebates and incentives available that can help offset the cost of going solar. The following are some of the most popular solar rebates and incentives:

The federal solar tax credit, also known as the investment tax credit (ITC), allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes. The ITC applies to residential and commercial installations, and there is no maximum limit on its value.

Many states offer additional solar incentives that can help offset the cost of going solar. Some of the most popular state solar incentives include solar rebate programs, which provide cash rebates for installing a solar energy system; solar tax credits, which allow you to deduct a portion of the cost of your solar installation from your state taxes; and solar performance payments, which are based on the amount of electricity your system produces.

You may also be able to take advantage of special financing programs when you go solar. Property-assessed clean energy (PACE) financing allows you to finance the cost of your solar installation and repay it over time through your property taxes. Lease-to-own solar financing and power purchase agreements (PPAs) are other options that may be available to you.

Create Jobs

The solar industry is one of the fastest-growing sectors in the United States’ energy sector due to the growing demand from governments and enterprises for clean electricity to combat global warming. Last year, the number of employment in the United States solar energy sector increased by 9% to over 255,000 people, with the majority working in installation and project development.

When you go solar, you’re not just helping the environment; you’re also helping to create jobs and grow the economy.

Protect Yourself From Rising Energy Costs

Solar energy can protect you from rising energy costs. Once you install solar panels, your electricity price is locked in at a low rate. That means you’ll still be saving money even if energy prices go up.

While thinking about installing a solar system, read 6 Types Of Mounting Options For Your Solar System.

Solar energy in Jenks, OK.

If you need expert help installing solar panels in your home, Nations Best Roofing & Construction, serving Jenks, OK, can help you with the installation. Going solar will be a smooth process with our impeccable customer service and quality of work. Whether a residential or commercial solar project, we will work with you to save you the most money and get the job done right the first time.

Get your free estimate now.

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