Solar Energy is becoming a vital cog in our energy infrastructure. The average household is now using up to 11000 kilowatt hours every day in energy in the northern United States.
It seems every energy company is raising their rates. As a response, people are looking at alternatives to just accepting rate hikes. One of the most common alternatives is solar energy. Solar energy provides consistent low charge energy to help alleviate or even end your electricity bills. In addition, electricity companies will purchase any excess electricity you create and feed into their power grid. Admittedly they purchase this at pennies on the dollar compared to what it’s sold for, but it’s still a reduction in your bills for an up front cost.
Solar Energy works by absorbing the photons of energy that are light and using it to knock free electrons from the photovoltaic cells. These electrons are the base of electricity. The electrons form a current and then that current is converted to AC electricity. This is a simplified explanation but it hits the main points.
Cost to Install Solar at Home
The cost to installed Solar Energy can vary widely. The initial price range can vary from $0 to $50,000 depending on many different factors. We will list and discuss the various factors to help you make sure you can get Solar Energy at the lowest possible costs.
The amount of power generated by solar energy is based on sunlight. This is not to say that there is no power generated on days during
State and Federal Grants:
Depending on your location there are state and federal grants available in regards to the cost of your solar energy systems. Your Solar Energy vendor will usually have a full list of available grants for your region. They want to sell as many systems as possible, and they will get their money either way. So it’s in every solar energy vendor’s best interest to find every possible way to save you as much money as they can!
State Tax Credits:
In addition to any state grants that may be available, there are varying degrees of state tax credits that will further reduce the costs involved for a large number of people. Now of course if you don’t qualify to pay income tax, or through some creative loopholes you have managed to bring your yearly taxes down to approximately three dollars and fifty cents, then these tax credits may not be of as much benefit as you’d hope.
Federal Tax Credits:
Federal tax credits are quite high, and can account for 20-40% of the installation costs. These are mandatory for keeping your solar energy costs down.
In the end all of these credits can bring the initial cost for an average Northern house down to $10,000 to $15,000. Additionally there are often financing and leasing options. Meaning you can install the system and usually make your payments based off of the savings in your electricity bills. Sometimes it may take some maneuvering, but solar energy can be an incredible option to cut down on your energy bills.