Did you know that a majority of American homeowners would install home solar systems if cost weren’t such an issue? It’s true: over 4 in 10 homeowners in the U.S. have seriously considered installing their own. But they’re understandably concerned about the expenses involved.
What these people don’t realize is that they’re among the large numbers of Americans who overestimate the cost of solar panels. Not only has the cost of solar energy decreased by 60% over the last 10 years but there are also incentives to consider. By this, we mean solar rebates.
What Are Solar Rebates?
A solar rebate is one of the many kinds of incentives that federal, state, and local governments have made available to encourage the use of renewable energy. They’re meant to make solar power more accessible and affordable. And they really do cut costs amazingly well — by 26 to 50 percent, if you can believe it.
Solar Energy Incentive Programs
Making solar electricity more cost-effective is something the federal government has prioritized through incentive programs. You may not have heard of the federal solar tax credit program, but that’s one of the most significant opportunities. There are several incentive programs at the city and state levels as well.
Some of the best programs you should know about include the following:
- Net energy metering. There are several states that use this kind of rebate program. How they apply to your home solar power system will vary from state to state. But the general concept is that the extra energy you create in your home but don’t use is applied as a credit to your next energy bill at the utility’s avoided-cost rate.
- Manufacturer solar rebates. While some states do not have specific programs available, many companies offer their own time-sensitive rebates. You can expect this kind of rebate to come back to you as a single amount.
- Front rebates from utilities or cities. While these have become rarer in recent years, front rebates were a helpful program when solar was first becoming available. Consumers who invested in a solar energy system were able to preemptively get money back. Of course, now, you get a much better return on investment when you install solar panels, so this is less necessary.
Figuring out how any one of these works, much less one, might seem daunting. But it’s definitely worth investigating with a local solar company. That way you can better reduce your carbon footprint, and invest in your family’s health and future on your own terms.
Make the Most of Solar Incentives
It’s easier than ever to invest in renewable energy, so why not give it a try? If you’re ready to learn more about solar panels and how you can benefit from having their power your home, you can visit https://blueravensolar.com/virginia/virginia-beach/.
Further information about solar rebates and other renewable energy credits will be a big help to you navigating this new territory on your own with confidence.