With time, more and more homeowners are switching to solar energy. It’s a no-brainer considering that it can cut down your electricity bills as well as reducing your carbon footprint. Another advantage of going solar is the fact that installing a solar system can boost your home’s value.
The Real Benefits of Going Solar
Some long-term benefits of going solar in Bay are the following. There are federal tax credits as well as solar loans that are provided and can be used to cover the expenses of purchasing a solar system. In the case of net metering, access solar energy is sent back to the grid and your utility company credits you for that amount with a discounted rate. It can help pay-back for the months that you need more electricity.
In case you choose to purchase a battery as well, you can have complete independence and not depend on the grid. For example, Tesla Powerwall advantages in Bay are the following. It is not a secret that the Bay area is prone to a lot of storms and power outages. This ensures that you have complete control over your power, and installing batteries can ensure that you have solar energy stored in the case of a power outage. Usually, you would have a few days of power stored depending on your usage. Another reason to go solar is if you have an electric car in hopes to reduce your carbon emissions, having a home solar system furtherly reduces the emissions during the charging process of the car at home, instead of at a power station.
Federal Tax Credit in the Bay Area
Due to recent legislation, the federal government offers big incentives for homeowners and businesses that decide to switch to solar. Because of the Bay investment tax credit, you have the option of receiving a return on your investment including the 26% federal tax credit. Keep in mind that as of 1/1/2021 the tax credit has decreased to 22% and will continue to decrease. So, it’s important to move quickly to get a slice of those savings. Additionally, if you have a commercial solar system, you can get accelerated depreciation over six years on the PV system. It’ll give you 100% bonus depreciation in the first year. The deadline of submissions ends in 2022 so you should be quick to join in. These two government incentives can end up covering from 50% – 60% of the cost of your system. This ends up being very affordable in the United States.
Why Solar Loans Are a Good Idea?
Another benefit of switching over are the solar loans in Bay. They are a subcategory of home improvement loans, as such, there are many different terms and rates for them. Most providers offer a zero-down option and a way to pay down them without any penalties. This is a large reason to switch over because going solar gives an immediate cut down on electricity bills.