5 Money-Saving Reasons To Install Solar Panels
5 Money-Saving Reasons To Install Solar Panels provides insightful benefits of home solar. We have 5 sound reasons why 2021-2022 is the best time to install solar panels.
1. Solar Is A Sound Investment
Home Solar Panels are a great investment because there’s no risk, only reward. How is that possible? It’s a no-risk investment because when you pay your power bill you have an outflow of money with no return versus investing into your own powerplant. You’re renting electricity with nothing to show for it. The money you pay the power company is gone forever, but the money for solar panels is an investment into owning a power plant. You know what your cost is over the next 20 to 25 years, so there are no surprise price increases.
2. Solar Panel 26% Tax Credit Through 2022
The 26% Federal Tax Credit for Home Solar has been extended through 2022, which basically means don’t drag your feet. Time is running out fast for the Solar tax credit because you don’t want to wait to the last minute. Buying solar is a process that can take up to 60 days to complete, but most most home solar purchases are about 30 days. Being that it’s a tax credit to apply to the next tax season you might not want to procrastinate buying your solar panels. The tax credit is a huge savings opportunity!
3. Additional Tax Benefits of A Home Solar System
There are additional tax benefits from home solar because Solar panels have no sales tax. That’s an additional 7% savings in Florida! In addition, there isn’t a home improvement tax assessment in Florida. It is unlawful for any municipality in Florida to assess your property for the increased value from having solar panels.
4. Solar Panels Increase The Value of a Home
Solar increases the value of any home, which is additional savings for power costs. This is a question that has no answer, but we can speculate how much solar increases the value of a home? Nobody can give a percentage of savings based on home value because every home has a different value. We know that the increased value of a home in 2021 means the cost of home solar is a much lower percentage of the value of the home in 2021. This means the home’s value should increase at minimum the cost of the solar system, but we can only speculate. At the end of the day, the new buyer doesn’t have a power bill, unlike the home without solar panels. Although it’s unknown how much solar increases your home’s value, we can agree it’s an additional ROI.
5. Replacing Dirty Energy With Clean Energy
We all know solar is sustainable clean energy. It’s common sense to use the sun’s energy versus dirty fossil fuels that damage the environment. Solar panels are a monumentally important advancement for humanity because they ensure a better tomorrow with cleaner air and water. Home solar isn’t given much credit yet but will be given credit for keeping the cost of gas down. The less demand for fossil fuels, the lower the cost is across the board. Every homeowner that installs solar panels is incrementally increasing and contributes to a balance in the cost of energy. Solar panels are helping society by creating more competition in the energy sector as a whole. In the end, you will earn a lot of money from investing in home solar using the power company’s money!