In Part 1, we covered the importance of selecting a local NABCEP certified solar contractor to have quality solar panels installed on your home to lower your residential energy bills, how they will help increase your property value, and the long term investment will provide savings for decades to come. Now it’s time to dive a little further and take a look at some additional benefits of these quality residential panels.
Earn great tax credits and rebates
In Arizona, having an efficient solar energy system qualifies each resident for a $1,000 state tax credit and an additional 30% Federal Investment Tax Credit through the year 2019. These tax benefits will help you cut costs from equipment and installation and will significantly help you and your family budget your finances. For example, a typical 7 kW solar electric (PV) system could be installed for $18,000 total cost, receive a federal tax credit of $5400 and a state tax credit of $1000. So the net investment into the system would be $11,600 and generate $1500/year in solar savings, a 7.7 year return on investment, or a 12.9% simple rate of return!
These solar panels greatly help the environment
A quality photovoltaic (PV) system can reduce pollution by 2 lbs per kilowatt hour (kWh) of carbon dioxide over its lifetime. As you power your home with clean, efficient energy, you will also be preventing fossil fuels from being burned to produce residential electricity, subsequently causing serious pollution harm and global warming. PV systems using energy directly from the sun, rather than burning fossil fuels, not only reduce the building’s carbon footprint but also save water, about ½ gallon per kWh, an especially great thing for desert climates!
Be part of the energy independence solution
Rather than relying on outsourcing our energy needs and having to constantly use foreign energy, you can directly contribute to the U.S. energy independence initiative. As of 2012, the U.S. relied on new imports for roughly 40% of our crude oil and petroleum. If more and more residential neighborhoods make the switch to more energy efficient solutions, the U.S. dependency on foreign energy will significantly decline.
If you want to learn more about the benefits of transforming your home into a solar energy powered house, contact Custom Solar and Leisure today!