Going solar is a big decision and there are pros and cons for doing so. Some reasons for making the leap to solar are obvious, like supporting energy independence and cleaning up the environment. Others have to do with reducing your energy costs and increasing the value of your home.
Let’s start with the reason that going solar in 2018 is a wise move.
Take Advantage of Federal & State Tax Credits & Rebates
Currently, a Federal Tax Credit, available in all states, offers a 30% reduction in solar installation costs until 2020 when that amount decreases to 26%.
Couple that with state tax rebates and tax credits, especially in the state of California, and there is ample incentive to go solar this year.
State incentives vary by state, but many states are getting on board with making the switch to solar attractive.
Save on Energy Bills
Conventional energy costs rise yearly and home and business owners have no control over those increases.
Solar rates, however, do not fluctuate like utility company rates. With solar, there is an opportunity to zero out your bill depending on your consumption.
If you and your family spend over $1200 annually on electricity costs, you will save money over the 25+ year lifespan of your system.
Increased Home Value with Solar System
A large study commissioned by the US Department of Energy’s Lawrence Berkley Laboratory looked at the value of homes with rooftop solar sold across eight states over a fifteen-year period (1999-2013).
Several findings stood out.
- Home buyers consistently pay more for homes with solar installed,
- Homes with solar installed spent less time on the market, and
- Homeowners who invested in solar (during the period studied) made back at least their initial investment when the house sold. (This does not factor in money saved on utility bills over their period of ownership).
Going Solar is a great investment, but it is also a complex transaction that can seem overwhelming.
At SunLynk, we like to take the mystery and complexity out of the process. We are committed to helping people and communities to adopt sustainable technologies.
So, if you or your community are thinking about switching to solar, we can help by answering questions and helping you to obtain competitive solar offers from top-notch providers in your area.
We love solar alternatives and are committed to helping you find the best solution for your needs then develop a roadmap for getting there. Contact us today to get started.