Residential and Commercial Solar Solutions
Why go solar: what are the advantages of solar panels?
Financial Benefits: How Switching to Solar can Both Save Money and Make Money
Most people who install solar panels on their home or business do so primarily for financial reasons. From a financial standpoint, there are four main ways to consider solar:
The Power Bill
Inflation
Property Value
Going solar increases the value of your home. This one is simple: homes with solar sell for more than homes without. And when you consider that solar allows you to reduce or eliminate your electricity bills, it’s easy to see why: wouldn’t you prefer to live somewhere where you don’t have to pay monthly utility bills?
Return on Investment
Environmental Benefits of Going Solar
The environmental benefits are the second most important reason people install solar.
According to the Environmental Protection Agency (EPA), the electric sector accounts for 27% of all carbon emissions in the United States. Fossil-fuel-fired power plants emit carbon dioxide and contribute to local air pollution in areas near power plants.
You can reduce your personal environmental footprint by installing solar. Installing a solar panel system on your property allows you to avoid purchasing carbon-emitting electricity from the grid by drawing directly from your solar panels. Even if you’re not using the solar energy directly, you’re reducing the need for carbon-emitting generation by putting it on the grid. At the end of the day, a typical residential solar panel system will save three to four tons of CO2 per year, which is the equivalent of planting more than 100 trees each year.
Going solar for a business can demonstrate your commitment to sustainability while also increasing employee morale and demonstrating sustainable values to potential customers.
Average Annual Contribution Equivalents:
Utilize Florida's newly implemented solar incentives.
Investment Tax Credit (ITC) – 26% Rebate on Your Solar System
While Florida does not offer as many incentives as other states, Floridians can take advantage of the largest available incentive at the moment – the solar tax credit. This tax credit is worth up to 26% of the cost of purchasing and installing a solar energy system on your home. When tax time arrives, you’ll be able to deduct 26 percent of the system’s value from your federal taxes, resulting in immediate cash back. If you do not have a sufficient tax due that year, you can carry over the credit and claim it in subsequent years.
This tax credit is available to everyone who purchases the system, whether outright or through a loan. Those who prefer to lease a system, on the other hand, are not eligible for the ITC. Although this tax credit has prompted millions of Americans to invest in solar, it is set to expire. The credit will be reduced to 26% at the end of 2022, with further reductions expected until the credit expires in 2023. Due to the fact that this credit guarantees significant savings on your system, we recommend anyone considering solar to act soon before the credit expires.
Start your Solar Journey Now
Solar energy has a slew of potential advantages. And these benefits are only growing in importance in our ever-changing world. For the majority of homeowners, particularly those in the Tampa Bay area, going solar is a no-brainer.
Make an appointment with one of our specialists to discuss how to bring your home into the future with a solar panel installation. Begin creating greener, more affordable energy today!