Save on Energy with Solar Panels

maximize your savings with solar rebates

Switching to solar energy is an excellent way to reduce your energy bills and become more self-sufficient. When you install solar panels, you generate your own electricity and decrease your dependence on traditional power sources. This is a smart long-term investment that can help you save money and save on energy. Moreover, solar energy is currently the most cost-effective form of energy available. There are many incentives, including tax credits and other benefits, to help make going solar even more affordable. By taking advantage of these incentives and switching to solar energy, you can avoid rising electricity costs and reap the benefits of a more sustainable and cost-effective energy solution.

3 important factors for Solar Savings

Local Utility Solar Rebates & Federal Solar Tax Credit (ITC)

The Federal Solar Tax Credit (ITC) is a federal incentive program that allows homeowners to receive a tax credit for the purchase of solar energy systems. This tax credit helps to reduce the cost of installing solar panels and other renewable energy equipment. The ITC works by allowing homeowners to deduct 30 percent of the cost of their solar system from their federal taxes. This incentive can be used for both residential and commercial installations, making it an attractive option for those looking to save on energy costs while making a positive impact on the environment.

Solar rebates are a great way to save money on energy costs. Local utilities such as AEP and Oncor offer solar rebates to customers who want to go solar. These solar rebates can help offset the cost of installing a solar system, making it more affordable for homeowners and businesses.

What is Net Metering and How Does it Work?

Net metering is an important solar policy and incentive that is used to help residential solar customers save on energy costs. It allows customers to get credit for the excess electricity their solar system produces, which can be used to offset the cost of electricity they purchase from their utility provider. This helps reduce the amount of money customers have to pay for energy and makes it easier for them to make a return on their solar investment.

In Texas, several Retail Energy Providers (REP) such as Green Mountain Energy, Pulse Power, and Energy Texas offer different net metering programs for their customers. By understanding the different net metering programs offered by Texas REPs, customers can take advantage of all the benefits associated with it and help save on energy costs.

How Does Going Solar Impact Your Home Value?

When considering going solar, it’s important to understand how it will affect your home’s value. Installing solar panels can have a positive effect on your property value.

Going solar is an investment that can significantly increase the value of your home. Installing solar panels can not only help you save on energy costs, but it can also be a great way to boost the resale value of your property. Studies have shown that houses with solar panels are more likely to be purchased faster and for more money than those without.

According to the National Renewable Energy Laboratory (NREL), your home value increases by $20 for every $1 you save on energy bills. For example, if your solar energy system saves you $700 per year, the value of your home increases by $14,000.

solar savings FAQs

Who qualifies for the Solar Federal Tax Credit (ITC)?

Homeowners and business owners who install a solar panel system on their property can qualify for the tax credit. The credit is equal to 30% of the cost of the solar panel system.

Will my panels work in winter?

Solar panels can still generate electricity during the winter, but the amount of electricity generated may be less due to shorter daylight hours and potentially more cloudy days.

What happens if I need a new roof?

A solergy representative will be able to assess the need of a new roof when doing a site survey. It is recommended to re-roof prior to installing solar panels on your roof.