How Solar Energy Is Becoming More Affordable in the U.S.
Whether you own a home or business, you’re paying monthly to depend on a grid that can sometimes let you down — and always at the worst possible time. With solar energy, you can generate electricity to keep your lights, appliances, security systems, and electronics running.
These systems lower monthly utility costs while actively working to minimize your impact on the environment, and they are getting more affordable to own. With advancements in technology and various other financial incentives, you can install a new solar system on your home or business for less than ever before.
Why Are Solar Panels Getting Cheaper?
Multiple factors contribute to solar panel costs, but they are all becoming more affordable as solar gains popularity nationwide. As the technology gets easier to produce and more providers enter the market, installation and maintenance continue to lower prices.
When you switch to solar, you also take advantage of a valuable Federal Tax Credit. This incentive allows you to claim the cost of your solar system and installation as dollar-for-dollar deductions from your annual taxable income amount for the year, with no maximum amount. You may also qualify for other state and local financial benefits depending on location.
How Much Does It Cost to Install Solar Panels?
New solar systems are affordable upgrades — especially after you factor in the extra savings you get with the tax credits you’ve earned. Homes and businesses vary in size and the amount of power they require. How much it costs to install a new solar panel system for your property will vary based on:
- Complexity: Systems vary in design. Your size and layout will depend on how you need it to perform. In most cases, a new solar energy system includes panels for collecting energy, an inverter to power the building, and racking for mounting your equipment. If you want to go off the grid, you’ll also want to include batteries and controls to manage them.
- Installation requirements: Professional installation is a sound choice when working with electricity. To ensure your safety and system stability, you should always hire a licensed, bonded and insured electrical contractor for installation. Your contractor can also take care of the minimal annual maintenance required to ensure your system stays in excellent condition.
How Popular Is Solar Energy?
Solar power (also known as photovoltaic or “PV” energy) experienced the highest growth ever in 2019, with over 200 gigawatts of electricity generated worldwide. These systems are very popular, and demand will continue growing as more people discover the benefits of cutting ties with their local energy provider.
Talk to a Local Contractor to Learn About Solar Panel Affordability
Are you interested in learning more about solar energy? Talk to your local experts. At Lippolis Electric, we serve all of Westchester County, New York, with professional, courteous and experienced care. Contact us to learn more about the different ways we can help you save money on your energy costs.
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