Are you considering having a solar energy system installed on your home? Solar energy is a great way to reduce the impact your home has on the environment as well as lowering your homes energy costs. These two benefits are usually the main things that homeowners consider when they are thinking about having solar power systems installed. However, there are so many more benefits and perks that come with solar energy that most people don't really know about. Some of the benefits that these homeowners are missing out on could be so beneficial to them that tbe benefits their missing out on should have really been their number one reason to have their panels installed in the first place.
Don't Just Save Money. Make Money Too!
Most homeowners who have solar panels installed on their home are mostly interested in the amount of money they can save on their monthly utility bill which makes perfectly good sense, right? Sure, it sounds good but what if you were to take it one step farther and instead of just saving money, you could make money as well. The Public Utility Regulatory Act of 1978 puts requirements on power providers to have to purchase excess power from small renewable energy systems that are connected to the grid and requires the power provider to pay a rate that is equal to the cost the power provider pays to create the power itself. With that being said, any excess energy that your system is producing and your not using isn't to be viewed as savings but should be seen as perfectly good sellable power. Net metering is an arrangement between power providers and homeowners who have solar energy systems installed on heir homes and it works with the use of a meter that is bi-directional. A normal meter measures and records the power your home pulls from the grid and nothing else but a bi-directional meter measures and records the excess power your system produces too. When it comes time for the power provider to generate your bill and they find that your meter reads that your home usage is in the black, instead of generating your bill they cut you a check for the retail value of the extra energy your system produced that month!
Tax Credits and Rebates
Believe it or not but when you go to file your taxes, you can actually get 30 percent of the equipment and installation costs back on your return as a Federal income tax credit. On a system that costs $25,000 the homeowner could actually save $7,500. On top of that awesome tax credit, add the local and state rebates for the Solar Renewable Energy Credits and suddenly your initial costs are half of what you had to pay. Solar Renewable Energy Credits generate returns on the initial investment that are quite impressive as these credits are generated throughout the course of the year and can be used to be sold back to the power companies. For homeowners who don't want to have to pay the initial costs of having solar power systems installed on their homes but are interested in reducing their utility bills through the use of solar energy. they can opt to have the entire system installed on their home at no cost to them through an installer that does no-cost installations. The installation and equipment costs are taken care of by the installer who then gives the homeowner a discounted rate on their power usage. So whats in it for the installers? The installers collect the Solar Renewable Energy Credits instead of the homeowner since they paid the costs for the equipment and insrallation. This can be a win-win situation for everyone involved.
Increase Your Homes Value
Homes that are in a school district or homes that have exceptionally good energy ratings are seen as qualities that are desireable and therefore have the ability to hold a higher value. As homes with their own solar power systems become more and more popular, it has become more common for a home that has a solar power system to be a desireable quality to have. The price of the average home increased $17,000 with the installation of solar power system. A study has also indicated that homes with solar energy sell 20% faster and for 17% more money.
Creating Energy Independence
in 2012, The United States relied foriegn import on 40% of the petroleum that was consumed that year. The real truth is that as we have continued to consume resources such as natural gas, oil and coal these dangerous energy sources have also been continuing to get more and more expensive as our economy and national security suffers. The inevitable is that we will eventually totally run out. Choosing solar energy as an energy source for your home is at least one step in the right direction and helps reduce the United States dependencies on foreign energy.
Solar energy has never been more affordable as well as accessible then it is today. The benefits that come with solar power is unmateched by any other energy source. You don't see anyone getting all kinds of rebates, credits and money for using coal or natural gas, right? Solar power however seems to have more perks and benefits then any other enery source combined. The solar industry has seen 20% employment growth since 2012 and the industry employed 142,698 Americans in 2013. What other energy sources are out there that get used on a daily basis that is creating an industry of jobs for Americans, can be a passive income source, is considered a tax credit for having in your home and increases the value of a home by as much as 17%? None.