How The Sun’s Energy Becomes Household Electrical Power
Solar Energy is the most abundant energy resource on earth. Still, there are costs in initially harnessing that energy. Because of the environmental advantages and other benefits of solar power, government at the federal, state, and local level has created a wide variety of financial incentives to make installing solar panels a smart economic move.
SolarPanelsPower.com monitors the current rebate and incentive programs in all areas.
State and Local Incentives
On the federal, state, and local levels, many financial incentive programs encourage private homeowners to lower energy usage and adopt solar power. A wide variety of tax credits and rebate programs help subsidize the cost of installing solar systems. Programs may cover up to 30% of solar system costs.
Federal Tax Credits
Homeowners can take advantage of a 30% federal tax credit on residential solar systems through the Residential Renewable Tax Credit. The credit remains in effect through 2016.
Financing Incentives
In most instances, homeowners who switch to solar are able to take advantage of zero down payment. After actual upfront cost, solar electricity is essentially free. While loans remain at attractive rates, homeowners can make the switch to solar in a very manageable way.
Added Home Value
The U.S. Department of Energy states that ” . . . going solar adds value to your home. According to the Appraisal Journal, a solar electric system increases your home’s value by $20 for every $1 in annual utility bill savings . . . ”
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