Source: Solar Energy Investment Tax Credit
We understand that going solar isn’t an easy decision to make and we get that going solar is a big investment. So in order to help you with the decision to go solar we put together some great reasons why you should go solar now.
If you are interested in going solar now is the time to do it. Before 2020 if you go solar you will get a 30% tax credit. Once 2020 hits the tax credit goes down to 26% and then down to 22% the following year. After that it will be be phased out completely. This makes 2019 the year to get the most out of your solar panels.
Solar Tax Credit Breakdown:
2. Solar Increases Your Home Value
A well documented study conducted by the U.S Department of Energy’s Lawrence Berkley National Laboratory (2015) estimated that a home’s value increases by average of 3% to 4% after solar panel installation.
In addition, Mike Orr an analyst with Arizona State University’s W.P. Carey School, found that homes with solar panels sold for more over those without solar in the last year, unless the solar is leased.
Leased solar: $127.29
Owned solar: $144.31
3. Solar Electricity Is Clean Energy
Solar electricity doesn’t create any green house emissions. This means they don’t pollute the atmosphere when used. Generating electricity with solar power instead of fossil fuels can reduce greenhouse gas emissions. Greenhouse gases are produced when fossil fuels are burned which can lead to negative effects on the enviorment.
4. Eliminate Or Reduce Your Electricity Bill By Going Solar
Going solar can eliminate or significantly lower your electricity bills to where they are no longer a factor in your budget. Over the past decade national electricity prices have risen 2.2% every year. Since electricity prices will continue to rise, your savings will continue to grow every year. When you generate your own electricity by going solar you lock in your energy costs at a constant rate instead of having to worry about fluctuation of electricity prices.