April 15, 2011
Solar Energy Grants-What are my options ?
Currently, the Federal Government offers a 30% tax credit to those who install a solar energy system to their residence, excluding swimming pools, and hot tubs. This solar power rebate is set to expire December 31, 2016, so if you’re thinking strongly about getting solar power, now is a great time to do it!
Receiving a grant or rebate is an excellent way to help offset what might seem like an initial big expense to the homeowner that is looking to enhance their home with solar power.
There are several grants offered to both homeowners and businesses that utilize solar energy. Not only are rebates and credits offered through the Federal Government, but also most city and state agencies as well. Those credits and rebates could include, but not be limited to tax deductions, tax credits, purchase incentives and rebates. Be sure to check frequently on what the solar rebates in your area are as they change on a regular basis, and might be a little difficult to understand at first.
As it stands right now, thanks to the implementation of the Energy Policy Act of 2005, as well as the Energy Extension act of 2008, Americans are entitled to a 30% rebate through the Federal Government once a solar panel is installed. This means that if a complete system costs $30,000 to set-up and install, the savings would be $9,000 in credits. Between getting a rebate, or credit on your initial set-up, getting a cheaper utility bill, and not having to pay all of the increased hikes from your power company, the savings will be quite substantial.
It’s always a good idea to check out all of your available options. As a recommendation, it’s not a bad idea to do your homework before starting such a huge undertaking. This will help alleviate any undue stress and frustration from the beginning to the end of your project. It will also save you money in the long run.
Also, for those of you that live in California and Arizona, there are even more incentives for you to change your current energy provider to solar. Again, check with your local and state agencies to find out what their criterion is. The inquiry will be well worth looking into when it comes time to pay that utility bill!
To assist you with taking the first step to becoming more sustainable with your home by adapting solar energy, we’ve provided a free tool on our website for you to get a free assessment! So again, what are you waiting for!