The Incentives to Make the Switch to Solar Power

As cliché as it may sound, there really has never been a better time to switch to a solar energy system. Not only does such a system save you thousands of dollars in energy costs over time, but there are currently incentives to encourage people to make the switch. These incentives may not be around forever or for much longer, especially as more and more people make the transition and take advantage of these incentives. So, cliché or not, the time is now.

Solar energy systems are now more than affordable to the average homeowner, even before additional incentives are considered. The aim of a solar energy system is simple: provide clean and natural energy directly, without harming the environment, while eliminating (or at least greatly reducing) the need to rely on a third party energy provider (which most likely uses non renewable fossil fuels which harm the environment). And the main aim for most homeowners considering making the switch to solar power is either saving money on monthly energy costs, doing their part to save the environment, or both. With the ability to save money and the environment at the same time, there really should not be much of a need for incentives. But, even luckier for those who are considering a residential solar energy system and installing solar panels for their home, there are incentives anyway. Below are some of the biggest incentives for making the switch.

Tax Breaks—In addition to already saving money by installing a solar energy system, there are also many tax breaks offered, depending on the region. This can be a break from taxes paid to the IRS and a break on taxes paid on the house itself, and it can be substantial.

Referral Bonuses— company offers referral bonuses for homeowners who refer others to them after having their own residential solar energy system installed. Some rebates can be up to several hundred dollars (paying for either multiple energy bills or part of the solar energy system itself, depending on how you look at it).

Rebates—Many local and state governments are recognizing the overall benefits of solar power for both those utilizing it and the environment. So, too, does the federal government. Depending on the area where the solar energy system is to be installed, there could be multiple rebates available to the homeowner.

Reduced Monthly Energy Bill—This should pretty much go without saying, since it is the main reason many people make the switch. A solar energy system gathers and generates its energy independent of an outside party, saving the homeowner money. It is that simple.

Reduced Carbon Footprint—For some, this incentive is even more important than saving money. Solar energy systems reduce your impact on the environment because it obtains its energy directly from the sun and does not produce any harmful toxins. By not interacting with the environment or releasing anything into it, it does not harm it.

Solar Renewable Energy Certificates (SRECs) or Solar Renewable Energy Credits—Some states, including New Jersey, offer Solar Renewable Energy Certificates, which are also called “Green Tags” or a “Renewable Energy Certificate.” The way it works is one SREC is given to the homeowner for every thousand kilowatt hours produced by that home’s solar energy system. The SRECs can then later be sold or traded, increasing the value of the home and the value of the solar energy system.

Once some or all of these incentives are considered, the decision to make the change to solar energy is not really much of a decision anymore.


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