With the arrival of summer, we should expect to see a rise in our energy costs. In addition to saving money on your utility bills, solar panels lessen the environmental effect of your house and promote local companies. They also contribute to energy independence.
If you’d like to put solar panels on your house, you should visit commercial solar for more information. For those of you who have solar panels, here are the top four advantages we see:
Reducing or removing the need for electricity bills.
It’s a real treat to look at. The average amount of solar in Australia is enough to power our family of four (three children and two adults) with net-zero energy usage. (Australia has an average amount of sun). On warm spring days, homeowners produce more energy than they need, and they then exchange that energy with the utility. When it’s too hot or overcast to use air conditioning, they use electricity from the grid. Although overcast areas receive more than two hours of sunshine each day, sunny areas receive an average of 5.5 hours of sunlight per day. Even though solar panels produce more energy on bright days, they may still take power from the grid even when the sky is overcast. Your home will still be powered by the sun, even if it’s coming in through a cloudy sky. On cloudy days, the amount of electricity generated is typically 10% to 20% of that generated on bright days.
Make the most of tax benefits and refunds.
Despite our best efforts, we didn’t foresee how much of a boon this one would be. When you submit your taxes, you will receive a federal income tax credit of 30 percent of the total system expenditures for equipment and installation. On a solar system that costs $25,000, you would save $7,500 by doing this. As a result, overall expenses can be reduced by half by combining this with state and municipal incentives and solar renewable energy credits (SREC). It is possible to sell SRECs to utility companies throughout the year, resulting in a substantial return on the initial investment.
Solar panels come with a 10-year guarantee and 25-year usable life, which means you’ll be generating free power and racking up credits for at least 20 years after making the investment. Defeating it would be nearly impossible. It’s a win-win situation for both the environment and the economy. Many installers also provide a no-cost setup, in which they cover the cost of the panels and installation while charging a reduced rate for power usage. They’re effectively “renting” space on your roof in exchange for a discount on your power. There are many homeowners who aren’t interested in making an upfront commitment or prefer a no-money-down alternative. In this scenario, the installer is the sole recipient of the SRECs’ earnings.
Regardless of where you reside, you’re likely to be eligible for a slew of solar tax credits. With that being said, it’s about time you seriously consider investing in solar power for your home.