A solar panel system will last you 30 to 35 years. In that time, your solar panels will generate plenty of savings on your electric bills.
Because solar panel systems have such a long life, many homeowners have questions about the impact this will have on their roof. How will the roof hold up over time? What if you have to remove and reinstall your solar panels for a roof replacement?
If you’re considering solar, you’ve probably heard about the federal solar tax credit, also known as the Investment Tax Credit (ITC). The Federal ITC makes solar more affordable for homeowners and businesses by granting a dollar-for-dollar tax deduction equal to 30% of the total cost of a solar energy system.
What does 30% actually mean for the average solar shopper? According to EnergySage marketplace data, the average national gross cost of installing a solar panel system in 2018 is $18,840. At that price, the solar tax credit can reduce your federal tax burden by $5,652 – and that’s just one of many rebates and incentives that can reduce the cost of solar for homeowners.
There’s plenty of information out there about the value of the residential ITC, but figuring out how to actually claim the credit when it comes time to file your taxes is another story. We’ll walk you through the process step by step from Form 5695 to Form 1040.
Determining the size of your solar energy system starts with a simple question: how many solar panels do I need for my home? As most people want to produce enough energy to completely eliminate their electricity bill, the first step is determining what size solar system will produce enough power to meet your household consumption levels. Ultimately, you will be calculating how many kilowatt hours of power you will need and finding the correct system size and number of solar panels to power your house. Continue reading →
For those asking themselves “should I go solar”, the cost of solar installation has fallen every year, and 2017 was no different. According to the Solar Energy Industries Association (SEIA), installing a residential solar energy system cost 1.6 percent less than in 2016, which is great news for today’s solar shoppers. But the ever-decreasing costs of solar create a conundrum: should I go solar now or wait? For many, daily headlines that declare lower and lower prices can stir them to action. For others though, these same headlines can cause them to wait a few more years in hopes of saving even more money. So who’s right?
If you’ve been researching the best solar energy incentives available in 2018, you have likely heard something about solar renewable energy credits (SRECs). SRECs are a tradable commodity that you obtain from owning a solar panel system and producing clean energy. Because of a common state requirement known as the Renewable Portfolio Standard (RPS), utilities in 38 different states must generate a certain percentage of their energy from renewable sources, typically at least 20 percent. In 6 states and Washington D.C., the RPS specifies that a certain percentage of the renewable energy produced must come from solar power. States with this type of “solar carve out” are willing to pay significant amounts of money to take credit for the power generated by solar homeowners.
EnergySage’s own vice president of marketing, Luke Tarbi, just had a Tesla Powerwall 2 installed at his home in Vermont through Green Mountain Power’s new program – for just $15/month! In this case study, he shares his experience with the program.
We’d just closed on the house in Southern Vermont. Fortunately, the sellers left the house mostly furnished and stocked with supplies and a helpful “home instructions” booklet. One line of their “home instructions” stood out to us: “In the event of a power outage, there are flashlights and candles in the mudroom.”
Elon Musk and his companies have been in the news a lot lately, and for good reason. Musk is constantly pushing the technology envelope, from space exploration to electric vehicles to solar technology. Since Tesla’s acquisition of SolarCity, there have been many changes to what used to be the leading solar installer in the U.S. Learn more about how SolarCity and Tesla will fit together, and what their merging means for solar shoppers.
According to a new study from the National Renewable Energy Laboratory (NREL), the key to driving down the overall cost of solar implementation may lie in targeting property owners considering new roofs or entirely new construction. The report, titled Cost-Reduction Roadmap for Residential Solar Photovoltaics (PV) 2017-2030, supports the U.S. Department of Energy’s (DOE) goal of reducing the cost of solar electricity to just 5 cents per kilowatt-hour (kWh) by 2030.
In this week’s Solar News Roundup, we explore the massive price drop in high-efficiency solar panels over the past year, plus an early indication that solar battery systems are a viable solution for peak electricity demand.