Benefits

Explore Benefits of Solar

Solar energy has many advantages. First and foremost, solar panels save money. If your monthly electric bill is about $120 or more, switching to solar would result in you paying less for electricity per month than you were before. People often inquire about the benefits and drawbacks of solar energy, but the fact is that there are no cons. Contact NationWide Solar Power team today for information about the many benefits of solar energy, saving you money and reducing climate pressure.
Solar energy has many advantages. The following are the most important to remember:

Reduce or eliminate your electric bills.

Solar adds to the value of your house.

Solar reduces carbon emissions

Going solar gives you leverage over rising energy costs.

Solar will reimburse you while you gain back your investment.

Solar Energy make you Qualifies for tax breaks and cash incentives

Help to reduce or eliminate your electric bills.

It is the most obvious advantage of solar panels: when you install solar power for your house, you produce your electricity, become less dependent on your electric utility, and lower your monthly electric bill. Or can eliminate is completly.
A solar panel system usually has a 25-35 year lifetime, which ensures that going solar would save you money on electricity for decades to come. Use this fast estimate tool to get a personalized estimate of your long-term energy bill savings as well as personalized estimates for up-front expense and 20-year solar savings.

Solar adds to the value of your house.

Millions of homeowners in the US are interested in solar panels but have not taken the time to learn how to mount them. And if you want to move soon, your solar panel investment will be refunded in full when you sell your home. Check out this report on solar and property values to learn more about the increased resale value of solar homes and how much solar contributes to the market value of
your property.

Solar reduces carbon emissions.

Solar energy is a safe, sustainable source of energy that can help minimize carbon dioxide emissions and our environmental effects. Unlike conventional fossil fuels such as coal and oil, solar energy does not directly result in the release of contaminants (such as carbon dioxide) into the atmosphere and water supply. Even when compared to nuclear energy, solar comes out on top as a more environmentally friendly choice.

Going solar gives you leverage over rising energy costs.

Many homeowners are concerned about their energy bills because, in most cases, there is nothing you can do to influence your utility’s electricity cost. While solar power costs have decreased by more than 70% in the last decade, electricity costs have risen by around 5% and get projected to¬†continue to increase.

The US government is rapidly increasing its pollution reduction goals, meaning
that there has never been a better opportunity to become electricity self-sufficient.

Solar will reimburse you while you gain back your investment.

Because of a slew of fantastic solar incentives in the United States, solar panels will potentially make you money in addition to producing bill savings that cover the expense of the device. Solar
renewable energy credits (SRECs) and net metering are two significant solar benefits that enable you to receive bill credits (or even extra cash) as your device generates electricity. In these cases, you get paid for the electricity produced by your solar panels. If you live in a state that offers one of these incentives, you can expect both immediate and long-term returns on your solar investment.

Qualifies for tax breaks and cash incentives

Many people opt for third-party ownership of solar and batteries, which provides them with all of the system’s advantages for a low monthly fee. Others, on the other hand, prefer to purchase their systems outright. Solar panels usually cost between $16,200 and $21,420.9. You will be able to
offset substantial costs of your solar photovoltaic device and even repay it within a comparatively limited time thanks to the federal solar levy, state rebates, net metering, and other advantages, depending on where you live.

SREC

Solar renewable energy credits, or SRECs, will help homeowners gain a return on their solar investment. Some states impose a Renewable Portfolio Standard (RPS), which allows electricity providers to derive a portion of their energy from clean-energy sources such as home solar. Electric
companies will purchase solar credits from home solar energy systems to fulfill the RPS. Home solar system keepers can sell SRECs through an aggregator, such as SRECTrade, which bundles and sells
their SRECs to the electric company.

Net Metering

When your solar panel generates surplus power, it gets sent back to the grid, and the electric company must purchase the energy from you. Customers that sell excess electricity to the utility provider use the proceeds to reduce their overall power bill. They may also use these energy credits
at periods when their electricity consumption exceeds their solar output, such as on a cloudy day or at night.

Federal Investment Tax Credit (ITC)

If you purchase your home solar system outright, you will be eligible for the federal tax credit beginning in 2020. The tax credit will reduce the cost of a solar system by 26%, including purchasing a solar battery. That means that if you buy a 6-kilowatt device for $18,300, you’ll pay $12,810 after the tax credit.

In 2021, the solar tax credit will get reduced to 22%. The tax credit will get phased out after 2021. As a result, the perfect time to go solar is right now.

State Cash Rebates and Tax Credits

In addition to the tax credit, states and towns can offer cash rebates for your solar system, allowing you to save even more money. The solar tax credit can range in size depending on the jurisdiction.
Go to the DSRE to locate tax credits and rebates in your province.

Performance-Based Incentives (PBIs)

Performance-based incentives, or PBIs, may be available through your state or electric utility. A PBI
compensates you for the electricity produced by your solar system. When the device is mounted,
the reward rate gets calculated. Rather than paying you upfront, a PBI is calculated based on your solar system’s energy output over time. A common form of PBI is a feed-in tariff (FIT).

Tax Exemptions

Your state or municipality can also have exemptions from property or sales taxes. Households recognize the importance of property tax exemptions. Purchased solar systems will increase the value of your home by up to $15,000 on average; If you intend to sell, you’ll get better bang for your
buck. A sales tax exemption may result in significant savings when purchasing your solar system, depending on your state’s sales tax rate.

Enjoy the Benefits of Solar Energy with the US

We will help you with everything from designing a custom solar system and installing solar panels to monitoring and maintenance. We only work with the most professional solar installers in your city, so you can trust that we will install your solar system correctly.