When it comes to owning a home, there are plenty of expenses. It always seems like there’s yet another project that requires a huge cost. But solar energy is a home improvement project that can actually save you money in the long and short term, and in a variety of ways. Read on for more financial benefits of solar energy for homeowners.
Get a federal tax credit of 26% until the end of 2020.
Time is running out to take advantage of the federal tax credit for photovoltaic systems. When you install a solar energy system for your home, you’ll qualify for a federal tax rebate. Currently, the credit is 26% which has the potential to help you save a few thousand dollars on your taxes.
However, the rate is dropping each year. In 2019, it was a 30% credit, this year it is a 26% credit, and it will drop to 22% in 2021. So now is definitely the best time to take advantage of this financial perk of solar energy. Keep in mind that the credit will expire in 2022 unless it is renewed by Congress, so this isn’t something to put aside for later. For the greatest financial benefit from solar energy, you’ll want to act soon.
Boost the value of your home.
Installing a solar energy system is an excellent way to dramatically boost the value of your home. In fact, installing solar panels can elevate your home value by up to 15%. Many home improvement projects can potentially increase the value of your home, but few — if any — will save you money in the meantime. And with ProSolar Florida’s 25-year warranty, you can trust your low maintenance system will be built to last.
Reduce monthly energy costs by up to 100%.
If you’re currently depending on the grid for energy, you’re paying a monthly bill to power your home and keep your lights on. Depending on the size and level of power consumption of your home, this could be a crushing, sizable bill every four weeks.
In contrast, when you install a solar energy system, you could save up to 100% every single month on energy expenditures. This is why it’s unsurprising that solar energy systems often pay for themselves within six to eight years. Here’s how that works.
Once you install your solar energy system, it uses sunlight to power your home during the day — which is completely free and totally clean. At night, your home will switch back to utilizing power from the grid. However, if you want to completely eliminate your dependence on the grid, we are certified Tesla Powerwall installers. Powerwall is a backup battery that will allow you to become totally energy independent. Your system will produce power during the day, and excess power will be stored in the Powerwall. At night or on cloudy days, your Powerwall will discharge, using free solar energy to power your home when it needs it most.
Reap the financial benefits of solar energy!
With half a year left of a 26% federal tax credit, now is the time to switch to solar! Give us a call today to schedule your risk-free consultation.