Despite becoming more eco-conscious, many homeowners have remained skeptical about converting their homes to solar energy. Concerned about the costs of solar panel systems, they put off the transition and continue to drain the public energy supply and rack up big utility bills in the process. If you’re one of those people who’ve delayed contacting solar installers in Tampa because you worry about the expense, here’s what you need to know about the financial benefits of investing in solar living.
Reduced Monthly Expenses
If you’re hoping to significantly cut your monthly utility expenditures, look no further than solar energy. Simply put, the more power your solar panel system generates, the less electricity you need to purchase. Your bills will literally begin shrinking from the moment your panels are operational.
Rebates and Incentives
Beyond monthly savings, the cost of installing solar is reducible through a variety of credits, rebates, and other financial incentives. This even includes a break on your federal income taxes. In 2005, the government established a solar tax credit for panel installations. Although this credit faced expiration at several points, it has been habitually reinstated and is now in place through 2034 as part of the Residential Clean Energy Credit program.
Many state and local governments also offer incentives in the form of property tax abatements, sales tax exemptions, and more. From the moment you type “solar installers near me” into your browser’s search bar, you’re taking your first step toward putting money right into your bank account thanks to these special deals.
Increased Property Value
If you’re thinking about selling your home, adding desirable features like solar energy helps attract more buyers who are willing to offer top dollar for a sustainable home. Yet even if you’re staying put for a long time, this increased property value will pay off in the form of upping your home equity, improving your borrowing power, and even reducing or eliminating your mortgage insurance premiums. When your home value increases because of improvements like solar panel installation, so do your financial opportunities.
Return on Investment
Few things in life pay for themselves, but installing solar panels in your home could be one of them. In addition to the aforementioned financial benefits that come with solar living, you can also take advantage of a process called net metering. That’s when excess energy your system generates is sold back to the public grid, further reducing your electricity expenses. Through opportunities like net metering, you’ll quickly see significant returns that offset the cost of your solar energy investment.
Now that you know the many perks for your pocketbook that come from adding solar energy to your home, it’s time to get your project going. By working with one of the top providers of solar panels in Texas or wherever you live, you’ll get the guidance you need to select a system that meets your needs and maximizes your financial gain. The sooner you hop online to find a local installer, the bigger the boost to your budget!
