Solar energy is an alternative energy resource many of us have unlimited access to. It’s natural, it’s clean, and it’s great for our communities. Here are just a few reasons solar energy is an optimal choice for consumers:
- Once you have paid the upfront costs for solar panels and conversion equipment, the sun’s rays are absolutely free! Even if you don’t generate enough solar energy to fulfill all of your electricity needs, the impact on your monthly utility bill will keep you smiling.
- The upfront cost for solar panels and conversion equipment isn’t as much as most people think. A typical solar power system will run effectively for twenty-five or more years. On average, a consumer can experience enough savings to pay off the upfront costs in seven to eight years.
- Generating your own power with solar panels will help you avoid exposure to rising utility bills. While electricity rates continue to increase, the sun’s rays will continue to shine for free.
- Having an energy-efficient home powered by solar energy generally gives your home greater value. If you decide to move, you could enjoy a higher selling price for your home.
- Using solar energy helps our environment a ton! Specifically, when one home uses solar energy, the result is a reduction of three to four tons of carbon emission into our atmosphere each year. That’s about the same as planting 100 trees.
If you’re considering implementing solar energy for your home, the time to act is now.
You could be eligible for a sizable federal tax credit. The Solar Investment Tax Credit, or ITC, is available for both residential and commercial properties. For 2020, the federal tax credit allows you to deduct 26% of the installation cost from taxes. (Of course, always consult a tax professional before making decisions based on the impact to your taxes!) This tax credit will be lower in the future—reducing to 22% in 2021 and to a final 10% in 2022.
There are many other programs based on grants given to utility districts, city or state programs, and low-rate loans to help make solar power more accessible. Check what’s available in your state or region on the Database of State Incentives for Renewables and Efficiency (DSIRE).
What do solar energy savings REALLY look like?
According to Solar-Estimate.org, a 12.18kW system will completely offset a typical monthly electric bill of $147. A system of that size is estimated to cost approximately $28,000 after receiving the 26% federal tax credit. Based on their estimations, this system will pay for itself after about 11 years, and yield a total lifetime savings of over $40,000.
Want to learn more about solar energy and other forms of alternative energy?
The Rogue Valley Clean Cities Coalition’s mission is enhancing the livability of the Rogue Valley. We promote and educate on alternate fuels, seek to decrease dependency on petroleum, and promote clean air and water in the Rogue Valley via alternate fuels. Contact us today for more information!