Did you know that you can receive a 26% tax credit if you install solar panels on rooftops this year? The federal government extended its solar power program called ITC (Solar Investment Tax Credit).
But, what are the benefits of a solar rooftop, and are they really worth it?
In this article, we answer these questions and more. Read on to find out what you’re missing out on and why you need to switch to solar power.
1. Lower Energy Costs
One of the top benefits of solar panels on rooftops, especially for homeowners is the reduced energy costs they offer. Relying on solar energy and solar power means generating your own power for your home.
When you reduce the amount of electricity you need from sources such as fossil fuels and natural gas, your energy bill decreases. These savings become increasingly significant the longer you have a solar system for power.
2. Federal Tax Credits
Having solar panels isn’t just saving money on energy bills, it’s also offering home and business owners tax credits and rebates. Homeowners receive up to 30% of their total solar system cost back in tax credits at the federal level.
This is a great way to offset the setup costs of solar panels on rooftops. Cities and states may also offer their own benefits for installing solar panels such as the city of Indianapolis. This includes sales tax exemption and more.
3. Quick Return on Investment
While the setup cost of installing solar panels is significant, you don’t have to wait long before the investment starts paying for itself. Savings are immediate since solar power is collected immediately after installation.
It can take several years for a solar rooftop to pay for itself depending on your home and energy consumption rates. Those with larger houses or who use more energy can compensate by installing larger solar panels.
4. Great for the Environment
Another reason to consider installing a solar rooftop is to contribute to greener energy practices. Fossil fuels and natural gas are contributing to global warming, acid rain, smog, and more.
These are harming human health as well as our global environment. The switch to solar power means reducing the need for other sources of energy that produce harmful byproducts. Solar energy is a much cleaner alternative.
5. Boost Resale Value
Installing solar panels on rooftops is a great option for homeowners who want to boost the resale value of their homes. Studies show that a solar system can increase home value by approximately 4.1%.
It can also make your home more competitive in the marketplace. Whether you want to sell your home now or in the future, switching to solar energy can mean great things for your home’s ability to sell.
Invest in Solar Panels on Rooftops
Investing in solar panels on rooftops is beneficial for you, your health, your family, your neighborhood, and your environment. It can help save you money and make your home more desirable.
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