When looking into home solar power, many people are dismayed by the expenses. However, these prices need not be so discouraging. After the initial fees, a large amount of power can be saved in the long run.
Home solar power will allow you to free yourself from utility companies and the instability of global energy markets. As your own energy provider, you are able to lock in power at a fraction of the cost you would be paying an electric company. As utility rates increase in the future, this difference will increase, leading to even more savings over the life of a solar energy system.
In addition to this, many states have funded solar rebate programs or tax credits. Also, if more electricity is produced than needed, it can often be sold back to the utility company. This means that it is actually possible to make money by setting up a home solar power system.
Not only do states have particular incentives, there are also federal options to help finance a residential solar power system. These incentives may apply in particular to solar power, or deal more generally with renewable energy or energy efficiency.
Financial incentives include such things as tax credits, deductions, and exemptions. They also include loans, bonds, grants, and, of course, rebates. As stated, these may operate at a federal or state level. There are also benefits which particular utility companies may offer.
Certain incentives apply only to commercial, industrial, or nonprofit (in other words, non-residential) buildings. So when searching for useful home solar power deals, double check that anything which catches your interest is available for residential properties specifically.
Net metering is the term for the electricity policy under which som
one using renewable energy can receive retail credit for the energy they generate. In some instances, this credit will only apply to a portion of what is generated.
According to the Energy Policy Act of 2005, all public utilities are required to make net metering available to any customer upon request. Different states are meeting this requirement at different levels. The variety in results comes from such things as how much value is assigned the credit and how long these credits can last. Also, a state’s regulations for the interconnection process between a home generator and the distribution grid can affect how easy or realistic of a choice this may be for some people.
One of the top resources to learn more about incentives for home solar power and other alternative technologies is The Database of State Incentives for Renewables and Efficiency (DSIRE). Incentives may be searched by state, by type, or by eligibility. The Web site also includes plenty of useful information on such relevant things as regulations, policies, codes, and standards.
Most states offer some sort of financial stimuli for the use of renewable energy technology. For this reason, it is very worthwhile to research state incentives before installing a new system. It is also wise to investigate these matters even when only considering a home solar power system. Many people mistakenly assume that solar power is too expensive without really looking into it.
