Financial Benefits of Solar

Written by U.S.SolarEnergy

There has never been a better time to install solar on your home. Indeed, installing a solar system has been shown to increase the resale value of your home and immediately decrease your electricity bill. Moreover, U.S. Solar Energy can help install the system at zero upfront cost while allowing you to take advantage of state and federal tax credits.

Increase the Value of Your Home

Adding solar panels to your home can increase its resale value. Studies have shown that buyers will pay a premium for a solar-powered house. Most home buyers are Millennials, and more than half have indicated they want to install solar panels. That percentage is only increasing. As cities continue to call for improved home energy efficiency standards, home buyers are motivated to buy houses ready to comply.

Save Big on Your Electric Bill

In addition to long-term benefits, the installation of a solar energy system on your home will result in an immediate decrease in your monthly electricity bill. The exact savings amount depends on where you live and how much you currently pay for each kilowatt hour of electricity. For example, suppose you live in the Northeastern United States – your cost per kilowatt from the traditional utility is higher than that of someone who lives in, for example, Florida. Although a solar panel in sunnier Florida might generate a little more electricity than one in New York, your savings in New York could be higher because each kilowatt generated – and therefore removed from your next electric bill – is priced higher.  

Most home solar systems are on-grid and use a policy called net metering. While your house will still be connected to your local utility, you will only have to buy that electricity when your home’s solar system is not producing enough to cover all your needs – this generally happens at night. If you produce more electricity than you use at a given time, you can sell it back to the grid.

Reduce Your Taxes and Get Valuable Rebates

Both state and federal programs provide significant tax breaks and rebates for installing home solar systems. Available to all American homeowners, the recently passed Inflation Reduction Act has raised the federal tax credit for installing solar equipment to 30%, and it will remain in place through 2032. You may also be eligible to take advantage of various state and community incentives such as sales tax exemptions, property tax abatements, and tax credits.

Get Solar at Zero Upfront Cost   

U.S. Solar Energy can install a solar system on your home with no upfront costs. Our solar loans, the most popular financing option, cover 100% of installation costs while still qualifying you for all federal, state, and local financial incentives. In most cases, the monthly cost of the loan is less than your previous electric bill.

Solar energy is gaining popularity due to increased home values, net metering policies, excellent tax benefits, and zero upfront costs. As seen recently, global events can influence energy prices. Installing a home solar system is akin to buying 25 years of electricity, eliminating potential worry over inflationary pressures or the inherent volatility of energy markets.