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Address: Arlington, TX 76014
One aspect of solar energy economics that doesn’t occur to most folks, is the high level of security and safety of the return. If one measure of security is the guarantee of long-term cash flow – what could be more secure than a return based on the rising of the sun? And while there is no guarantee what your utility will be charging for electricity in 5, 10, 20 and more years from now, it’s going to be higher, meaning the savings from energy supplied by the free fuel from the sun, will be substantially greater.
Benefits of Solar?
Lower energy bills: Solar panels can produce enough energy to power at least half of your household’s electricity needs. To maximize efficiency, conduct a home energy audit to see if you need better insulation or if there are any leaks around doors and windows.
Tax Incentives: In 2015, the federal government established a renewable energy tax credit. Through it, taxpayers who are homeowners can claim a credit of up to 30% of the cost of the solar energy system, as long as the property is used as a residence by the taxpayer. There is no limit to this credit, and if it exceeds your tax liability for a year, the excess amount may be carried over to the next year.
Increased home value: If you live in Texas, installing solar panels means a $3.00 increase per watt to your home’s value. Granted, this increase is in direct proportion with the quality of panels installed.
More opportunities to save: By regularly slashing your monthly energy bill as well as increased profits if you sell your home, you can redirect those monies towards an emergency fund, saving for a dream vacation, or towards other home projects you’ve been putting on the back burner.
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