Are you aware of the benefits of solar energy?
If you are looking to reduce your monthly electricity bill, the answer is to go solar. Learn about the benefits of solar energy to reduce your utility bill. Get a competent solar installation company to install solar and you can reduce the amount you spend on electricity to virtually zero!
The economic benefits of solar energy are almost unlimited
When you install solar on your home you are moving away from dependency on the main power grid. While you will still be connected, the cost of sourcing energy will drop drastically.
An experienced and professional solar installation firm will design a solar system that will bring you maximum benefit. Not only will you immediately start paying less, but you won’t have to worry about increases down the line.
How will I avoid the constant yearly increase in energy prices?
With world-wide energy needs constantly draining the fossil fuel supplies, demand is starting to overtake supply. Fuels must be transported long distances from remote regions, constantly adding more to the cost.
The result for houseowners is that electricity will become more and more expensive down the line.
The great news though, is that solar energy can solve this problem. Once you break away from dependence on the main grid, you are automatically freed from this cost spiral.
Changing from Fossil Fuels to Renewable Energy is the answer.
The U.S Energy Information Administration predicts that energy consumption will rise by more than 50% over the next few decades. The obvious answer is to deploy renewable energy sources which will not be depleted over time.
Source: The Earth Project
Aren’t the prices of solar panels also increasing?
While the grid tariffs have rocketed upwards over the past several years, the cost of solar panels has fallen by over 70% over the same period! Making the change away from fossil fuels to renewable solar energy an absolute no-brainer. The benefits of solar energy far outweigh the cost of installing PV solar panels on your roof!
Will I continue saving with solar power?
- The benefits of solar energy are that it is a fully renewable and completely free source of energy
- Solar energy comes from the sun which means that it is an inexhaustible source of power.
- The PV Solar panels providing the energy are very long-lasting and virtually maintenance free.
- Statistics show that the resale value of solar homes keeps increasing relative to conventionally powered ones.
- The result Is that mortgage providers are more likely to lend solar powered homes.
Another of the great benefits of solar energy is the tax breaks they give.
In a move to encourage and boost the continued expansion of solar installations, Federal and State authorities are giving solar tax breaks and financial incentives. This means that you can now reduce the cost of installing solar panel system by 30 to 50 percent.
How do the tax credits work?
The Federal solar tax credit, otherwise known as the investment tax credit (ITC), permits one to deduct up to 30 percent of the cost of installing a solar energy system from one’s Federal taxes. This credit is available on all residential systems, and there is no cap on the amount that can be saved.
This Federal ITC was originally put in place through the Energy Policy Act of 2005 and was scheduled to expire by the end of 2007. However, a bill passed by Congress at the end of December 2015, extended the tax credits to homeowners through 2021.
How do I claim the tax rebate
The legislation allows you to claim these rebates as soon as the installation of the PV solar system is complete, provided it is operational by the end of December 2023.
Should you not have enough tax liability to claim the entire credit in any one year, you can roll the balance over into future years.
So how do I make use of the benefits of solar energy?
The economic benefits of solar energy will depend on the amount of energy your installation generates, and how much power your home uses. This information will be provided to you by your solar installer in an initial free consultation.
Extracting the data from your electricity bills of the past 12 months, they will determine your monthly usage in kWh. They then divide this figure by 30, giving your average daily electricity usage.
Using this figure, your installation company then plugs in the average sunlight hours for your location. This allows them to calculate the number and type of panels you will need to generate this amount of electricity.
Why do I need to remain connected to the grid?
PV solar panels produce electricity when sunlight falls on them. When the sun sets, the output shuts down. So, in order to power your home at night, you will still be drawing power from the main grid. To a certain extent the same applies on very cloudy days and in overcast weather.
Doesn’t this mean that I am still paying expensive electricity bills?
No, not at all! With a well-designed system, the solar panels on your roof will regularly produce more electricity than you need.
Using a system known as Net Metering, the excess electricity which your panels produce is fed straight back into the main grid. Your utility company will credit you in full for this electricity, so you are ‘banking’ this amount for future use.
When you draw electricity at night and on cloudy days, you are drawing on these saved credits. This means that you are in fact really independent of the grid.
To learn more about net metering in Maryland, click here.
How come my system produce this excess power?
There are times during the day when your home is drawing relatively little power. When you are at out of the house, the current you are drawing is particularly low. All the surplus electricity not used during this time is ‘banked’ and available for later use.
The net result is that you are providing most of your own power needs, and possibly all of them. Your installation company will work out all the options for you.
Will I have power when there is a grid outage?
When the grid is down, the utility company line-men will be working on the power lines to restore current. For safety reasons the system has be shut down completely during this work. This means that your system will temporarily be down.
There is an optional solution to this. You can add a battery backup system to provide continuous power in the event of an outage. This will allow you to continue using lights and essential systems for the duration of the outage.
Based on your personal requirements, your installation company will be able to quote you for the cost of doing this.
Is a solar backup battery worth it?
The alternative to a solar powered battery backup is a conventional fuel powered generator. Generators are noisy to run, take time to get set up and are a nuisance to maintain. You also have to store sufficient gas to run the unit, and this may not be desirable.
The beauty of a solar battery backup is that it will kick in automatically, even if you are away from home. This is a tremendous advantage and gives one a lot of peace of mind. Your fridge and freezer will keep running, as will your security system! Certainly, worth considering.
Environmental benefits of solar energy
In addition to the purely economic ones, the benefits of solar energy are great for the environment too!
Everyone wants to keep the environment clean and healthy, and this will be the subject of another article we will be writing soon.
In the meantime, why not get a free quote? You can then make a well-informed decision about the full benefits of solar energy for your home.