Solar panels have been gaining popularity over the last few years as an alternative source of energy for homes and businesses across the world – but how do you know if they are right for your home? Here are just a few of the ways that solar panels can benefit your home and budget in 2021.
Energy Independence Through Solar Panels
Solar panels can help produce your own power from the suns energy, and technology has made them more efficient than ever. These days a home panel system can often create more than enough energy to cover your usage. This makes it easier to rely less and less on conventional sources and utilities and can even lower or eliminate your power bill, helping your energy independence!
While summer can be a burden on your energy bills thanks to constantly running AC, solar energy uses that sunshine to create power! Long daylight hours in the summer can help boost your energy production.
Tax Breaks & Utility Incentives
Rebates through tax breaks and utility bills are just one of the benefits of a solar energy system. Many utility companies in the state of Texas offer incentives to homeowners with solar energy systems in the form of rebate programs and coupons. Plus many companies have credit systems in place for homeowners who contribute their own energy production.
FEDERAL SOLAR TAX CREDIT: The federal residential solar energy credit is a tax credit that can be claimed on federal income taxes for a percentage of the cost of a solar photovoltaic (PV) system. In December 2020, Congress passed an extension of the ITC, which provides a 26% tax credit for systems installed in 2020-2022, and 22% for systems installed in 2023.
Solar Panels are a Home Investment
Help increase the value of your home with a solar energy system. Homes with solar panels can have an added value of built in energy savings, especially with eco-friendly home design trends gaining popularity. Added solar panels can help your home stand out from the competition.