Are you feeling uneasy about solar power? SunLynk is here to help with every step of the process! We offer a wide range of services that go beyond installation and repairs. In addition, we want to make going solar more affordable than ever before so we have several financing options available. Contact us today for a free quotation and for more information on what we can do for you!
The Basics of How Solar Technology Works
The majority of residential solar panel systems are grid-tied, which means they’re still physically linked to the local utility company. The perk of remaining connected is being able to take advantage of net metering and having a backup power source for times when the sun isn’t shining.
A grid-tied residential solar system is made up of three technologies: solar panels, an inverter, and a utility meter.
- Photovoltaic solar panels absorb energy from the sun and convert it into electricity.
- The inverter takes the raw energy and makes it usable for our needs.
- The utility meter serves as the connection between the system and the grid.
- The fourth, optional component is a battery. This stores solar energy generated at home instead of sending it to the grid. Batteries are important for backup power in case of a grid failure.
Solar Installation Incentives
Saving energy saves money. By transitioning to solar panels, you will:
- Save money on your utility bill
- Participate in environmental governance
- Become eligible for state and federal tax credits
The government-sponsored solar energy tax credit covers a large chunk of the cost of installing solar panels. All US homeowners are eligible for a 30% tax credit on the total cost of their solar system, regardless of income or location.
There is no maximum amount you can spend with this system, and there is no limit to how many properties (including second homes) you can own. New construction will also be eligible for the tax credit which is claimable at 30%. This particular tax credit decreases by a few percentage points every year until it expires in late 2021.
While many states have yet to join the federal solar policy, some have taken quick action and offered a 30% credit! Additionally, your local utility provider may give you additional benefits for going solar. With thousands of power companies in our 50 states, it’s impossible to go into detail about every policy on this site; however, we recommend talking to a local expert for more information. If you’re interested in speaking with someone about these policies, we’d be happy to get the conversation started.
Solar Panels Net Metering
Net metering helps to avoid blackouts by Managing the production and consumption of energy in the home. If you use more power from your utility company, it will slowly raise your electric meter. Although, if you create extra solar panel energy, that same electric meter will run backward- making sure the amount of power being consumed is equal to the amount being produced.
Solar power is typically most efficiently gathered in the early afternoon. However, people use more electricity in their homes during morning and evening hours on average. So your solar system may make more power than you’re using throughout the day. This credit can be traded to your state’s electric company so that you have it for later use. Although net metering is allowed in most states, always remember that policies differ from one state to another.
Many people are unaware that you don’t have to buy solar panels outright. You can lease them from a provider for a monthly cost and use the energy they generate yourself. With this arrangement, though, the responsibility for maintenance and upkeep falls on the shoulders of the leasing company rather than the owner of the equipment.
Solar panels are a great way to save money on your power bill, and with a Power Purchase Agreement (PPA), you can get them installed with little to no upfront cost. Your monthly payments will be different than if you went another route, but they’ll be lower overall. With most programs, you have the choice between a fixed price per kilowatt-hour used or one flat ‘rent’ charge for the system—depending on your location’s rules and regulations, of course.
Best Solar Companies - Solar Financing in Lake Worth FL
While Solar Leasing and PPA options are often more affordable in the present, owning a system outright comes with advantages of its own. For example, in recent years solar ownership has become increasingly economically practical. By owning your energy system, you are eligible to claim the full federal tax credit. This means that if you have a $10,000 system, you can save $3,000. For a $20 000 system, the savings are doubled to $6,000.
More homeowners are switching to solar power because of state and local government programs. Depending on your location, you might also be able to get a tax break. With a solar lease agreement, the company leasing the panels to you (the lessor) is still the owner of the panels and gets any applicable tax credits. Homeowners who purchase or finance solar panels receive tax incentives. This ownership is an investment that will eventually pay for itself many times over. Those who cannot afford the initial payment can take advantage of third-party financing options. Our solar installers in Lake Worth have connections with financiers and would be happy to go more in-depth about these choices with you.
If you are interested in exploring solar power options at the best price for your home or business, SunLynk is the company to call. Our solar installer would be happy to answer any questions and help customize a perfect solar power system – just give us a call today!
Get a Professional Solar Panel Installation in Lake Worth today!
SunLynk is proud to be one of the most successful solar panel companies in the Lake Worth area. Our team of solar installers comprises highly skilled professionals who are dedicated to providing our customers with top-notch service and impeccable results.
Successful solar panel installations are becoming more affordable and efficient every year. With advances in research and development, its use is likely to become even more widespread in the future. It is an important part of transitioning to a more sustainable and renewable energy system, as it reduces our reliance on resources such as fossil fuels that are damaging to the environment. Solar technology is also reliable and cost-effective, making it an attractive option for households and businesses alike.
By embracing solar technology, we can all do our part to reduce our environmental impact and make the world a cleaner, healthier place.
For more information about how solar technology works and its benefits, please contact your local energy provider. They will be able to provide advice on the best way to use solar power for your specific home or business.