“We dodged a cannonball, not a bullet,” said chief meteorologist David Paul.
It’s the year 2020, and the entire country is going through unprecedented times. With many people spending more time in their homes, working remotely and taking online classes, home appliance usage has increased the average monthly household electricity bill by a substantial amount!
I'm sure you have heard this before… ‘owning your home is way better than renting an apartment and spending a high amount of your income to assist someone else to pay their mortgage’. “But don’t blame me,” you say, “what benefits do I get from owning a home?” , “what future value does it give me?”.
For years, solar panel installations have been a great environmental choice. Residential solar systems benefit a lot of homeowners across Texas, and they offer a great return on investment.
When you install a residential solar system on your property, whether on-grid or off-grid solar power systems, you will see a difference on your first energy bills. Also, the cost of residential solar systems will continue to stay the same regardless of electric companies increasing the price of energy.
Do you know that the amount you save from solar power depends on the size of the solar system you install? That means, the larger the system; the better your savings. Some homeowners can even get their electric bills down to zero with the right solar installation. All you need to do is contact a solar provider near you to ask for details.
What are some benefits homeowners receive when they install residential solar systems?
Residential solar tax credit
The government rewards people who opt for solar energy. As an incentive for switching to solar power, you can receive an energy tax credit of 26% of qualified expenditures for your system in the year 2020.In 2021, the solar tax credit deduces to 22%, and in 2022 it deduces to 10% percent, but after the year 2022, there might be NO MORE federal credit for residential solar energy systems. So homeowners without solar panels could take advantage of the 26% tax credit this year 2020.Qualified expenditures includes:
- Cost of installation
- Labor and assembly
- Wiring to connect the system to your home.
You can also carry any excess amount of your residential solar tax credit (any that exceeds tax liability) over to the following year.
Energy IndependenceSay goodbye to traditional electrical providers, and enjoy the power of residential solar systems. Utility companies can charge customers more during ‘Peak times’ such as the middle of the day when the sun is the highest. This is why your bills tend to skyrocket during the hot summer months.
When you invest in residential solar systems, your peak hours become precious hours. This means you will enjoy substantially lower utility bills, and no need to worry about both low and high voltage appliances usage in your home.
It creates a strong environment impactWhen you go solar, not only are you more energy efficient, you help impact your environment and support your community by becoming Eco-friendly. But how?
By choosing electric vehicles: Transportation is known as one of the top sources of climate pollution in the United States. To solve the climate crisis, we need to make the vehicles on our roads cleaner. I do not mean cleaner by going to the car-wash .LOL. But cleaner by having an increase in electric vehicles. Driving an electric or hybrid car helps lower greenhouse gas emissions than gasoline-powered cars. It’s easy to charge your electric car at home while you have a solar panel installation. It saves you gas miles.
By increasing employment in your community: Some people mistakenly believe energy-efficient initiatives are the enemy of job growth, but that is not the case. In fact, you can help create economic growth in your city by creating more green jobs to help reduce greenhouse gas emissions and improve the public health of people in your community.
By promoting better health for all: A study by the National Renewable Energy Laboratory (NREL) discovered that solar panel installation results in fewer cases of chronic bronchitis, respiratory, and cardiovascular problems. Installing residential solar panels not only save you money on your electric bills but improves the health of people around you because solar panels produce renewable energy.
By creating cleaner air and reducing air pollution: Installing residential solar power systems helps reduce fossil fuels, decrease harmful greenhouse gas emissions into the atmosphere, and shrinks your carbon footprint. According to the U.S Energy Information Administration, the average home with solar panels uses 8,288 kilowatt-hours (Kwh) of electricity per year.
So think about it; when you switch from traditional electric providers to a solar power system, it as the same effect as planting around 150 trees every year. Now that’s amazing!
Increases home valueIn Texas, homes with solar panels are sold on an average of 8% to 20% faster than homes without solar panels according to the US Green Building Council.
Houses featured with solar panels, solar house heating systems, a whole house solar generator, and residential solar systems batteries are more desirable and consider for a faster purchase. Buyers will not have a worry about the initial investment or installation cost.
A study by Lawrence Berkeley National Laboratory shows homeowners with residential solar panels systems saw an average increase of $5,911 per kilowatt on resale value. Homeowners could earn a whopping $18,000 increase with 3.1-kilowatt solar system installation.
To learn more about which solar panel is best for your home, IntegrateSun consists of the best experienced solar consultants in Texas to guide you through your solar journey and show you exactly the information you need to make your experience worth it.