Solar panels are one of the best ways to save money on your home and protect the environment. Many people are choosing to install solar panels on the roofs of their homes and enjoying the benefits year round. Most people know that solar panels can save you money but are not exactly sure how. Here are some ways solar panels can save you money.
1. Tax Credits
The government wants to reward you for making good choice for the environment, so you can get a tax credit if you choose to install solar panels. Tax credits are different than deductions in that a credit is simply money that you get back without having to do anything. When you file your taxes the following year that you install the panels you could get thousands of dollars back in a tax credit. If it were only a deduction, it would simply lower the amount that you could be taxed. So it might save you money, but it wouldn't necessarily put money back in your wallet.
2. Grid Backup Power
One of the best things about solar panels is that they have a backup system. So at night when the sun isn't out, the panel is saving up all the energy that it accumulated during the day so that you still don't have to access the city's electricity when you turn on the lights or power your appliances.
In addition, if there is a city power outage, you most likely won't be affected. The energy you accumulated from the solar panels can keep things like your fridge, freezer and other important appliances running even when everyone else is without power. This is because solar panels have an advanced backup grid.
3. You Can Lease Rather Than Buy The Panels
One reason many people don't purchase solar panels is that they are expensive up front. In many cases, you have to make a down payment to get them installed in your home. Additionally, if you are planning on only staying in your home for a couple years, you might not want to install the solar panels because you don't know if the next homeowners will want them. However, with the leasing program you can get solar panels installed for a smaller cost, and then you make payments each month. Then you have the option to give them back at the end of the lease if you don't like it or you choose to sell the home.
These are just three reasons to invest in solar panel installation. Contact a local company for more info.Share