Here are 5 key facts that make installing solar panels on your building a wise investment you won’t regret.
1. You Can Save If You Add Solar Panels While Re-roofing
Think about it, if (as many do) you are getting ready for roof replacement this spring or summer, it would be convenient and cost-effective to have solar panels installed at the same time.
The cost of tearing off the shingles underneath where the solar panels will go has to be considered. And it would be new shingles wasted if you re-roof now and do solar installation months later. The same contractor can handle both solar installation and roof replacement, which also tends to save you money.
2. Solar Installation Can Get You Tax Breaks & Other Discounts
The cost of installing solar panels qualifies you for the solar energy tax credit, a federal tax credit that is quite substantial. For 2020, you can deduct 26% of the cost of solar installation from your tax bill – not from your taxable income as in a tax deduction, mind you, but from the actual amount paid as in a tax credit.
It’s true that this tax credit used to be 30% and will go down to 21% in 2021. It may eventually expire entirely if Congress doesn’t revive it. But that’s all the more reason to take advantage of it now while it still exists.
Plus, there are state and local rebates, discounts, credits, and deductions that you may qualify for if you get solar panels and/or invest in other energy-efficiency upgrades to your home.
3. Your Panels Will Pay For Themselves & Then Keep On Paying
Depending on your exact situation, your new solar panels could pay for themselves in 7 years or less. But since panels last 25 years or more, you go on saving on your monthly power bill for many years after paying off the panels and installation cost.
If you install enough solar panels in the best locations for maximum sun exposure, you could even eliminate your electric bill – and actually see the utility company paying you for excess power you feed into their grid!
4. Solar Installation Can Make Your Home Energy Independent
Energy independence isn’t just something to strive for on a national level, but it’s a worthy goal for the individual homeowner too. Putting solar panels on your roof can help you achieve it.
Not only can you drastically reduce or even totally eliminate your electric bill, but you can store solar power in batteries that you can use during nighttime hours, when it’s cloudy, or when there is a power outage.
5. Solar Panels Increase The Resale Value Of Your Home
Finally, note that enough people are concerned about the environment – and about lowering energy bills, these days that homes with quality solar systems installed tend to gain a higher selling price. They also tend to spend less time waiting on the market.
To learn more, or to get a free quote on solar installation, contact Sheegog Contracting in Central Florida today!