Solar panel rebates can help you lower or even eliminate your electric bill. This can be accomplished by taking advantage of many generous cash incentives for installing a solar system on your home or workplace. The government is practically doling out cash from coast to coast that will help you finally say goodbye to high electric bills. Solar panel rebates can pay more than 50% of the system price; This is without a doubt one of the most significant government deals in US history!

Due to its popularity, rebate programs across the country are quickly running out of funds. Think about it. The federal, state and local governments would like to see it go solar and are literally doing everything they can to make the idea of ​​powering your home or workplace with solar energy a real possibility. You will never have to pay the money back! When you’ve received your rebate check after the solar system installation, the money is certainly yours to do as you please. It is not a line of credit or a tax credit; you will actually receive a check from the state or utility company.

An additional helpful incentive program is the 30 Percent Federal Solar Tax Credit. This tax credit is applicable to the amount you owe in taxes. The Federal Solar Energy Tax Credit isn’t a deduction from your earnings, it’s even better. It’s a dollar-for-dollar credit against whatever you owe in federal taxes, which is almost as good as cash!

Along with solar panel rebates and tax credits, solar panel systems present more additional benefits for your home. A solar system can easily pay for itself in as little as 3-5 years. It’s better than any other type of home improvement out there. It will increase the resale amount of your home. And besides, a solar system will continue to provide you with income for many years to come!

The reasoning behind these incentives is really to get people to buy something new, something they wouldn’t normally invest in due to price. However, after enough people decide to buy, the market grows, which helps drive down free market prices. Once costs are lower, in theory, more people can buy without incentives.

In fact, the price of solar panel systems is declining, thanks to more companies entering the industry, as well as a recession-induced glut. In the first quarter of this year, solar panels cost 30% less compared to the same time period in 2010, as stated by the Solar Energy Industries Association in Washington, DC

One thing to note: Solar panel rebates exclusively relevant to solar panel systems and other components. These prices represent close to 50% of the total installed cost, according to the US Department of Energy’s National Renewable Energy Laboratories. The other half is typically made up of soft costs, primarily labor, which can certainly be tough. to reduce.

An alternative strategy for making the switch to solar power is to use solar panel leasing companies. In California, many people have installed solar panel systems using leasing companies that don’t require money up front, but charge you a fee each month for the use of the panels. For many customers, that monthly bill can be almost equal to what they had to pay the utility company, as a result, solar energy ended up being a no-brainer: they could go green with no upfront fees and little to no markup. in your monthly expenses. In certain cases, your monthly expenses went down! According to various reports, leasing deals make up about 50% of the California solar market.

Solar panel rebates, tax credits, grants, and loans are found throughout the United States for installing a solar system. All of these solar incentives are offered for a finite period of time. Unfortunately, the longer you wait to apply for your state’s incentives, the lower the incentive is likely to be. No matter where you buy your solar energy system, you need to hurry and submit your rebate request before the incentive is reduced or runs out. Bottom line: The largest refunds are predicted to go in a hurry!