Dedrick J Jackson
The Energy Brain
What is Solar Energy, and Why should You care?
First let’s begin with what solar energy is. Solar power is arguably the cleanest, most reliable form of renewable energy available, and it can be used in several forms to help power your home or business. Solar-powered photovoltaic (PV) panels convert the sun's rays into electricity by exciting electrons in silicon cells using the photons of light from the sun. This electricity can then be used to supply renewable energy to your home or business.
Here Are The TOP 5 Reasons You Should Consider Your Solar Options Today:
Reduce/ Eliminate Your Electric Bill:For a homeowner, business, or nonprofit, electricity costs account for a hefty portion of your monthly expenses. With a solar panel system, you’ll generate free power for your system’s entire 25+ year lifecycle. Even if you don’t produce 100 percent of the energy you consume, solar will reduce your utility bills and you’ll still save a lot of money.
Great Return On Investment:Contrary to popular belief, solar panels are one of the best ways to invest, with returns comparable to those of traditional stocks and bondsDropping solar prices are creating even bigger savings, helping homeowners pay off their solar panel system in seven to eight years, yielding an ROI of 20 percent or more.
Avoid Energy Cost Increases:In the last decade energy rates have increased 3-15 percent depending where you are in the country.Going solar helps you better forecast and manage your expenses. This is key if you are a business or homeowner with fluctuating cash flow.
Increase Property Value:Your solar panel system will increase the value of your home and make it more attractive to new homebuyers. Homes equipped with solar panel systems sell more quickly than non – solar homes. The demand for solar equipped homes will continue to grow as homebuyers become more educated about solar benefits.
Last but not least we have the investment tax credit coming in at #5.
Investment Tax Credit or ITC
First a quick run down of the ITC according to EnergySage.com, “The ITC was originally established by the Energy Policy Act of 2005 and was set to expire at the end of 2007. Thanks to the popularity of the ITC, and its success in supporting the United States’ transition to a renewable energy economy, Congress has extended its expiration date multiple times. Now, the solar investment tax credit is available to homeowners in some form through 2021.”
As of 1/11/19 The investment tax credit (ITC), also known as the federal solar tax credit, allows you to deduct 30 percent of the cost of installing a solar energy system from your federal taxes. The ITC applies to both residential and commercial systems, and there is no cap on its value. The average EnergySage Solar Marketplace shopper saves nearly $9,000 on the cost of going solar as a result of the ITC.
SOLAR FUN FACTS
Solar energy is the most abundant and cleanest renewable energy source available for both domestic and commercial applications.
Every hour the sunlight gives enough energy to satisfy the world’s energy needs for an entire year; however, due to slow adoption, produces less than one tenth of one percent of the global energy supply is produced by solar.
The U.S. is the world’s number two leader of renewable energy. China is #1.
Green plants convert solar energy into chemical energy through the process of photosynthesis. This process creates the biomass that contains fossil fuels.
Now that you have a better idea of how solar works and how you can benefit, give us a call or drop us an email so we can discuss the best solar option for you.