Why Do Homeowners Invest In Solar?
There is now enough installed solar energy capacity in the United States to power 8.3 million homes, according to the Solar Energy Industries Association. As a matter of fact, there are 1 million homes in the U.S. that have fully installed a solar system.
Why do homeowners prefer to invest in solar?
The use of energy is used much more efficiently and homeowners are happy to know that their investment powers clean and pure energy from the sun. The solar industry has experienced an impressive growth, and the reason for that is because consumers are confident in buying the product. Not only are they just leasing, but actually buying solar.
Homeowners have an option to either buy, PPA lease, or get a loan for solar panels. Homeowners are buying because it is the right investment to save money. When refinancing a home, many homeowners rather invest in solar since it is the smart way to go. Homeowners are able to receive money back due the solar installation. An option that homeowners have to is the California Solar Initiative. California Solar Initiative offers cash back for installing solar on your home or business. Customers earn cash rebates for every watt of solar energy installed on homes, businesses, farms, schools, and government and non-profit organizations.
PPA Leasing
Many solar installers advertise solar leases or power purchase agreements (PPAs) as an easy way to reduce your electricity bill. If you are interested in a simple, low-maintenance option for installing a solar energy system on your home, leasing solar panels is a good option for you. The way it works is similar to renting your solar panel system.
You will enter in to agreement that will entitle you to the benefits of the system which is typically around 20 years. Under the leasing arrangements, the solar leasing company owns and maintains your solar panel system, so it is entitled to the rebates, tax breaks, and financial incentives that are available for the solar panel system. Consumers can indirectly benefit from those savings through lower electricity rates.
Solar Investment Tax Credit
You will be entitled to a dollar-for-dollar reduction on the amount of income tax you would otherwise owe. For example, claiming a 1000 federal tax credit reduces your federal income taxes due by $1000. The tax credit is based on the amount of the investment in solar property. Learn what ways your home can benefit and save money with solar. For more information, please read about email Solar Connection at ask@solarconnectionca.com or fill out the form below to see if you qualify.