Solar panels are often considered a more environmentally friendly way to power your home. They capture energy that is produced by the sun in order to power your home in a clean and more effective way than traditional power. Here are some of the top motivators on why home owners are switching to using solar panels.
Solar Investment Tax Credits and State Solar Rebates
This is one of the most important federal policies that was enacted to support the growth of solar energy. It allows for home owners to receive a credit on their income tax, essentially reducing the amount of income taxes an individual will have to pay. This tax credit will be eliminated on January 1, 2022. Click here to view more information about the SITCs.
There are currently 12 states that offer solar rebates, including Colorado. Contact your local solar panel companies to find out what your state rebate might be.
Reducing or Eliminating your Energy Bill
Solar panels give homeowners the chance to drastically reduce, or completely eliminate their monthly energy bill. If your unit produces more energy than what your household consumes, you may receive a credit back to your utility account to use towards months where you consume more energy.
Becoming Independent from Electricity
The price of electricity fluctuates constantly, and greatly differs on what state you live it. It can reach anywhere from 8¢ to 34¢ per kilowatt hour depending on the state, and can increase or decrease at any time of the year. This makes trying to predict your monthly bill nearly impossible. With solar panels, you are only charged for the total cost of installing your unit and the difference if your solar unit doesn’t produce enough energy to fully cover your energy bill. So once you pay off your solar unit, you won’t have to pay an energy bill (unless your unit doesn’t produce enough energy). If blackouts happen in your neighborhood, your home will not be affected because you rely on solar energy.
It’s Good for the Environment.
Fossil fuels are used to generate electricity. Whereas, solar panels capture the sun’s energy and converts that into power without using environmentally harmful emissions. By using solar panels, you can help to create cleaner air, water and soil, decrease dependence on fossil fuels, and much more.