30 Oct Seven Ways to Save with Solar Energy
With all the hype around solar power reducing your energy bill, we wanted to highlight the other ways that you can save. Here’s a breakdown of all the possibilities for saving (and even earning) by making the switch.
Save on your Electricity Bill
This one is easy: Texas heat plus working and learning from home means doubled or tripled daily energy usage. This translates to an astronomical electric bill every month. Having your jaw hit the floor so often gets tiring. On average, Texans can save nearly $1,000 per year over a 20 year period. We have a great calculator that will help you see how much you can benefit.
Save the Planet
It’s hard to talk about saving without mentioning saving the planet. So much of cheap grid energy is produced from non-renewable sources. These sources contribute to the ever-increasing climate disasters we’re seeing today. Solar is the best way to take personal responsibility for you and your family’s carbon footprint. Standard energy accounts for more than 30% of the United States’ greenhouse gas production. Coal-fired power plants require tons of water to cool their machinery. That water is subsequently released, full of toxins, back out into the world. Solar poses almost no risk to local air pollution or water resources in the environment.
Increase the Resale Value of Your Home
As a homeowner in challenging times, we want to secure our most valuable financial asset– our home. Investing in solar helps boost the sale price of your home. It also becomes more attractive to prospective buyers, ensuring closing without issue when the time is right to sell.
Save with the Solar Tax Credit
The solar credit is a tax incentive for homeowners and businesses to invest in renewable energy. Unlike a tax deduction, which reduces the amount you pay taxes on, this credit simply reduces the amount that you owe at the end of that year’s taxes. In fact, there’s no cap on the value you can deduct! Regardless of the type or size of install, you will get a 26% credit if you install this year. In 2021, this the credit will drop to 22% for residential and commercial systems, and in 2022, this deduction disappears permanently. Learn more about what the credit is and how to file here.
Stabilize Your Electricity Bill
When coming up with our monthly or annual budgets, price fluctuations can make our calculations more difficult. This results in reduced confidence in our financial futures. Big or small, stability is key in financial planning. With solar, your electricity bill becomes more stable and predictable, so you can enjoy your summers in comfort.
Save with a Negative Electricity Bill
This is one of the few negatives that we’re happy to stand by. It sounds too good to be true, but the electric company may wind up paying YOU for your electricity. The electricity meter tracks not only the electricity that you use but also how much you PRODUCE. The number can fluctuate depending on your usage and the amount of sun your panels are getting. But, you’re especially likely to be getting those negative bills in the cooler months when their A/C isn’t running. Properly sizing your panels can get you those negative bills even during the summer months!
Save Natural Resources
The world’s most exploited resources are oil, coal, and other fossil fuels. Over the decades, they will continue to become less available at an exponential rate. It is important to find and adapt to sources of renewable power like solar now before our resources run out. Surprisingly, the world’s best source of energy is the sun! It produces 173,000 terawatts of solar energy every second. This is far more than we could ever produce with fossil fuel.
Ready to get started on saving? Contact us today.