The Tax Credit is claimed by filling out a special schedule, IRS Form 5695, and entering the credit amount from that into your 1040 form.
Net Metering programs reward homeowners by crediting the excess energy production from their solar power system.
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If you’re curious about installing a solar energy system in your home, this article covers the top six advantages of residential solar power to give you a basic idea of the benefits you should know. Before making a decision on whether or not to go solar, you need to rely on sound advice from experts with firsthand experience installing residential solar energy systems.
Certainly, solar has a number of advantages over nonrenewable energy sources, but have you ever wondered how these benefits relate to you as a homeowner? If so, here are the top six benefits of owning a solar-powered home.
1. Predictable monthly energy bill
Taking advantage of a predictable monthly energy bill over the long term is the biggest benefit. If you’re wondering how a residential solar energy system can lower your monthly electricity bill, you’re certainly not alone.
The bottom-line truth is that the price of energy is increasing every year in the U.S., so as a homeowner, you have to account for this cost. A number of factors influence the price of electricity every month, including seasonal changes, regional differences and the number of people in your home.
The good news is that you can participate in net metering programs, which allow you to offset your energy bill based on the amount of energy you “contribute” back to the electricity grid via home energy production. You may be able to enjoy a $0 energy bill if you install a large enough solar energy system.
2. Reduce the stress of working with electricity companies
Along those lines, you know how difficult it is to work with utility companies, especially if you live in a state with deregulated energy providers. Installing a residential solar energy system eliminates the need to compare utility rates and allows you to make the best financial decision for your family.
3. Solar is better for the environment
The next advantage of residential solar energy is the fact that solar power is far better for the environment. Nonrenewable resources, such as petroleum and coal, release harmful emissions into the atmosphere known as greenhouse gases. Residential solar energy systems emit no greenhouse gases whatsoever.
If you’re trying to ensure that your children have an unpolluted environment for many years to come, transitioning to solar energy may be the best choice. According to the U.S. Energy Information Administration (EIA), approximately 84 percent of greenhouse gas emissions in 2013 came from nonrenewable resources. Going solar would give you the opportunity to do your part to reduce emissions.
4. Decrease dependency on nonrenewable energy sources
The trouble with nonrenewable energy sources is that you have no control over how market fluctuations affect your energy bill. As a homeowner, you already know that you have been paying more for electricity over the last few years.
“This year-over-year increase in average electricity prices, combined with higher expected summer residential use, leads to a forecast 5 percent increase in the typical residential customer’s summer electricity expenditures compared with last summer,” the EIA said in the Short-term Energy Outlook, its most recent report. This information aligns perfectly with other EIA statistics on the rising cost of electricity in the U.S..
5. Government incentives
To offset the cost of installing and maintaining a solar energy system in your home, you can take advantage of government incentive programs to transition to renewable energy sources. For instance, the federal government has programs that provide incentives for using renewable energy.
Many of these programs have been available for quite some time, such as the Residential Energy Conservation Subsidy Exclusion, which “includes installations or modifications primarily designed to reduce consumption of electricity or natural gas, or to improve the management of energy demand.”
6. Solar modules with 25 year warranty
You can rest assured that a properly installed home solar energy system will last for quite some time. Solar equipment can last for a few decades with consistent maintenance and sound guidance from installation professionals. Technology obsolescence is a fact of life you have to account for when making home investments, so the good news is that solar modules last at least decades to maximize your investment.
As you can see, home solar energy has many advantages you need to consider before making a purchase. With the right guidance from experts, you too can leverage these benefits to save money and improve the value of your home.
With over 30 years experience in the roofing business and over 10 years experience in the solar industry, you have a team of professionals helping you every step of the way. We simplify the process by managing the project for you. From system design, financing, permitting, inspections, installation, utility interconnection, to monitoring, we handle it all.