Residential Solar - Sense and SensibilityThe Economic Benefits to You- You can cut or virtually eliminate your electric bill. With the excess solar power, you can actually run your electric meter backwards and SAVE electricity to the grid and thereby save yourself money!
- If you are concerned that you won't be in your home long enough to enjoy all the benefits of the solar system or long enough for the system to pay off, you should note that you could gain from an increased home value as soon as your system is in place. It has been proven that for every $1,000 you save in your annual utility bill, your home's value increases by $20,000.save $5,000 and your home value increases by $100,000!
- With system financing up front costs are minimized or eliminated. Frequently, the monthly loan payments are less than your previous energy bills. You can often write off the interest part of the loan AND once the loan is paid, you continue to enjoy free electricity as well as attractive returns on your investment.
- Significant state mandated rebates and federal tax credits to help you pay for your system - frequently 1/3 of your system cost.
And the Federal Tax Incentive (ITC) has been extended for another 8 years and this means that residential installations will benefit in an even greater way than before with a 30% tax break with NO cap.
Below is an example of just how affordable solar has become by combining the new Federal Tax Credit with California Solar Initiative state mandated rebate.
| Example below illustrates your savings after available solar incentives: | $50,000
- $11,000
$39,000 | Typical residential system
State Mandated Rebate
Your system cost before Federal Solar Tax Credit | - $11,700
$27,300 | Federal Solar Tax Credit (30% taken after Rebate removed)
TOTAL SYSTEM COST: a 45% savings through incentives
| | And A Tax Free Property Value Increase of $30,000-50,000! |
Environmental Benefits for Your Community- Obtain energy from a clean, non-polluting, renewable, dependable source;
- A typical 5 kW system eliminates more than 6 tons of CO2 emissions annually. This is the same as cutting your weekly gas consumption by 25 gallons or planting more than 2.5 acres of trees;
- Feel good about doing your part to save the planet;
- Be the envy of your neighborhood and a role model for your community.
Energy Independence
- Freedom from increasing electricity rates...rates have gone up an average of 5.5% annually over the past 20 years and are rapidly trending upwards of 15-20% a year for many utilities in the past couple of years. With solar you are insulated from expected rate increases;
- Freedom from interrupted utility service (with a battery back-up system);
- Freedom from foreign energy dependency;
So if you own your home why then do you rent your power from the Utility?
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