Raise your hand if you’ve ever thought the following…
Solar panels are so expensive that they will never be able to pay for themselves.
Well… things have changed. Check out what New York homeowners are saving by installing solar.
New York residents are reaping the benefits of installing solar panels, to the tune of $31,000+ on average over 20 years, nearly 75% more than the national average. U.S. energy is rapidly growing, some would say booming, so now is a perfect time for businesses and homeowners to profit. Here are some tips to help you determine if solar power is right for you…
Tip 1: Do Your Research
Whether you are building a new home or want to renovate, solar energy has become a viable option. Globally, solar energy investments grew 25% (totaling $149.6 billion), and is expected to grow another 31 percent in the U.S. In addition to home owners, governments and businesses are increasingly turning to solar to reduce their energy bills and become more sustainable.
When looking for solar energy companies, the following is important to remember:
- Not all solar energy companies offer $0 down and free installation. Here are a few solar companies that do. Start by entering your zip code here.
- The 33% investment tax credit (ITC) has been extended – so the time is now to take advantage of this federal support. Despite this change, experts project continued growth in solar due to reductions in the cost of solar panels and accompanying equipment.
- The cost of solar energy continues to go down significantly – for residential the cost is down 60% and commercial is down 65%. Yet another reason to invest now.
The next step, after doing your research into the solar energy companies, is to look into the cost of solar energy.
Tip 2: Research the Cost of Solar Energy
Many are shocked that subsidies and rebates cover 99% of costs associated with installation so it literally costs $0 to have done. With $0 down, you could be on your way to significantly reducing your electric bill in a matter of weeks. but keep in mind the reduction in monthly utility bills equates to long term savings as well (on average, more than $1,000 a year). The initial purchase can be offset by federal tax credits, available state tax credits, leasing and financing. Some of the top solar installation companies offer $0 down and free installation via their lease program. This is a great alternative to purchasing a system out of pocket.
Tip 3: Find the Solar Energy Option that Fits Your Needs
There are two main solar systems: Solar Thermal System and Photovoltaic System. With the first system, solar panels collect the sunlight and transforms it into energy during the day to heat water systems. With the Photovoltaic System, the solar energy collected is converted into electricity to operate many appliances and systems in the home. Once you have determined which option is best for you, you can move forward in decreasing costs, take advantage of tax incentives, and using a reusable energy source that helps your pocket book as well as the environment.
How Do I See If I Qualify:
Step 2: Once you go through a few questions, you will have the opportunity to compare the best quotes in your area.