Solar panels are much less expensive than they used to be. However, price is not the only factor in this decision. It is important to find the solar panels that will work best with your home or business.
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A growing number of people want to be environmentally responsible as well as energy efficient. They know that they can save money in the long run and do their part for the environment with solar power. In order to accomplish these goals, though, they need to choose the right solar panel installer. Fortunately, there are also great opportunities in different parts of the country to take advantage of offers from utility companies. You can get rebates on the installment of solar power equipment and even sell extra power back utility companies in some places.
Tax Credits and Rebates
In the United States, there is an array of incentives available to consumers who are interested in converting the power source for their home or business to solar. The federal government, many states and even the utility companies themselves offer various encouragements. These efforts are aimed at helping the people of this country to make the inevitable switch to renewable energy as painlessly as possible.
The federal government is spurring this development in various ways. Besides the considerable assistance that they provide directly to companies involved in producing solar power, US government policies also offer two different tax credits directly to citizens. The Residential Energy Efficiency Tax Credit covers purchases of qualifying renewable energy technologies made in 2011, 2012 and 2013. Taxpayers can receive a tax credit of as much as $500 for the investments in renewable energy that they make. The Federal Residential Renewable Energy Tax Credit, an additional federal program, is applicable to any system put in place after 2008. There is no maximum incentive for such purchases and it can cover as much as 30% of the cost. In fact, excess tax credit can be carried over to the next year. This is an extremely unusual and advantageous offer. The federal government is eager to assist regular people in converting their homes to renewable energy one step at a time.
The states and the various utility companies operating in them each have separate offers for residential and business conversion to solar power. For example, Arizona offers its residents a Solar and Wind Energy Systems Tax credit that would be applicable to this purpose. This program allows as much as $1,000 in tax credits per residence, as long as the system is new and complies with safety standards. Much like the federal program, excess tax credit can be carried forward for as long as five years. Utility companies around the country are also taking part in this endeavor. In Pennsylvania, the First Energy Company has created the Residential Solar Water Heating Program. This is a rebate of $500 on solar-powered water heater installations. As long as a participating contractor installs the unit and it displaces an electric heater, residents are eligible for the full rebate.