Federal and state governments are pushing hard to make it easier for homeowners to integrate solar energy as a viable and affordable way of powering their homes. They now have rebates for solar installations to encourage the installation of solar panels at the home owner level. The majority of states are trying to urge their residents to ‘switch on’ to renewable energy by leveraging the power of the sun. Solar installation rebates from the government will definitely help homeowners to afford solar power systems.
A lot of people across the U.S. have been smart enough to install solar panels in their homes. The solar panels are highly efficient particularly when several panels are used in series. This set up can return enough power for a home to go completely ‘off grid’. The government has recognized the intrinsic value of solar installations so rebates are now available for those who opt to switch to the use of solar power for their homes. Try to visit the Database of State Incentives for Renewables and Efficiency or DSIRE.org. for more information regarding rebates. DSIRE identifies the available programs that homeowners may be eligible for and how much the rebate will be. Below are some examples of rebates and incentives that the federal and state governments are offering:
Federal Tax Credits. The Federal Government is now providing a 30% rebate for a residential solar power system. This took effect following the adoption of the Energy Policy Act of 2005 and the enforcement of the Energy Improvement and Extension Act of 2008. Furthermore, there is no longer a cap as to the amount that can be claimed toward the cost of solar panels. The amount was previously restricted to only $2,000. The rebate now covers the cost of the materials as well as the cost of labor.
Renewable Energy Credit (REC). Generating renewable energy is generally accepted, and installing a system such as solar panels can create a credit which state governments want to purchase. This typically comes in the form of a check issued directly to the homeowner for a certain percentage of the system. There are even manufacturers who are willing to deduct the amount from the price of the system and then pursue the credit from the utility. This favors customers and makes it easier for them to afford the system because they no longer have to wait for the utility rebate, which may take a couple of months.
Municipal Financing. This program has been devised to allow the cost of solar panels to be covered by municipal tax funds for an extended period of time. The program is normally funded by municipal bonds and in most instances, the payment scheme lasts for twenty years. In case the house is sold prior to the end of that period, the solar installation, and whatever tax liability remains, is transferred to the new owner of the property.
Net Metering. A number of energy firms are implementing programs that allow consumers with solar power systems to sell the excess power they generate back to their energy companies. In the event that the customers’ system produces more than they consume, the meter simply spins backwards. All utilities in the United States are obliged to buy back consumer-generated power; however the rates vary widely.
A lot of Americans have taken the plunge into a more independent future by producing their own energy needs. As renewable energy sources become more mainstream, it’s quite likely that more rebates and incentives will be offered by the government and by traditional utilities. However, such rebates and incentives can prove to be a bit complicated. It would be best to consult a solar installer if you are contemplating on installing a solar system.
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A lot of people across the U.S. have been smart enough to install solar panels in their homes. The solar panels are highly efficient particularly when several panels are used in series. This set up can return enough power for a home to go completely ‘off grid’. The government has recognized the intrinsic value of solar installations so rebates are now available for those who opt to switch to the use of solar power for their homes. Try to visit the Database of State Incentives for Renewables and Efficiency or DSIRE.org. for more information regarding rebates. DSIRE identifies the available programs that homeowners may be eligible for and how much the rebate will be. Below are some examples of rebates and incentives that the federal and state governments are offering:
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