You have probably heard all the hype about solar power – not only is it better for the environment but it can seriously cut down your utility bills. But is this really the case? It may seem too good to be true, but with one of the best energy providers you can be saving thousands of dollars by using a solar energy system!
Don’t believe us? Here are some of the economic benefits you may be able to take advantage of.
Rebates and Incentives
Customers can benefit from state, county and utility rebates. Homeowners with solar energy earn these rebates as a monthly credit rollover in return for their excess energy produced by their solar panels. Since most energy systems are connected to the neighborhood’s electricity grid, this power is essentially shared amongst your neighbors. Every state has different incentives, but don’t worry! The Database of State Incentives for Renewables & Efficiency (DSIRE) has an interactive map that displays solar incentives by state.
You can also speak to a dedicated solar energy specialist at Momentum Solar to find out what incentives you may qualify for. We will happily provide you with all available rebates and incentives in your area!
Tax credits are another kind of incentive that residents with solar energy can take advantage of. The Federal Tax Credit allows solar energy owners to deduct 26% of the cost of installing the solar system from their federal taxes.
The Federal Tax Credit applies to both residential and commercial systems. This credit can be applied to personal income taxes that would otherwise be payed to the federal government.
Residential and commercial solar energy system owners can deduct 26% of the cost of installation for systems that have begun construction through 2020. The Federal Tax Credit then decreases in slow increments annually until 2021, where it is projected to stay at 10%.
Taxpayers will receive the most out of their tax credit if they invest in solar energy today!
Solar Financing Options
On top of the plenty of rebates to help homeowners save money, there are also a few solar financing options to help offset the cost of your system. The following financing options are available depending on your needs and budget:
- Cash Credit
- Power Purchase Agreement
There are different benefits for each option, and at Momentum Solar we want to give you all the information you need to pick the best one for your home. We understand that switching to solar power is a serious commitment, and we want to provide you with cleaner, price-protected energy at an affordable cost.
Why Momentum Solar?
Momentum Solar is one of the best solar companies nationwide. We are dedicated to supplying our customers with efficient solar energy systems that reduce your electricity bills. We handle the entire process of your solar installation to ensure a seamless transition to renewable energy.
Our solar system installers are ready to help you achieve your energy goals! Visit momentumsolar.com or call 1-800-MOMENTUM for your free quote today.