financial

What are solar incentives?

If you’re considering installing a solar photovoltaic (PV) system on your property, there are a wide range of solar energy tax credits and rebates that you’ll want to be aware of. Many of these incentives—available at the federal, state, and local levels—can significantly reduce your system’s initial and overall costs and increase the rate of return on your investment.

In 2019, the world added more renewable energy than any other source, with solar and wind representing 45% of all new capacity. As the global focus on energy independence and environmental responsibility grows, and demand for clean renewable energy rises, policymakers globally, nationally, and locally are creating programs that increase production to feed this demand.

Businesses across the country already recognize the economic, environmental, and PR and brand benefits of going solar, but there are still more financial incentives available to businesses that decide to install a solar photovoltaic (PV) system on their property.

Although adding solar to your home can be a relatively painless and easy process, sometimes understanding all the ins and outs of the financial incentives available to you can be confusing.

Your solar estimates should include two different types of warranties. One type of warranty covers the physical components, while the second warranty should cover labor and installation. How many warranties you’ll have total at the end of the project may vary - depending on your system, each individual component you purchase could have two warranties.

If you’ve done your homework and selected a few reputable solar installers to provide you an estimate, you should be in a position to evaluate the best fit for your situation and property. However, occasionally there are elements of an estimate that are confusing or unclear. Here are three tips to help you discern between subtle differences and obvious red flags.

One of the often-overlooked parts of reviewing solar estimates is the installation team. A well-established provider with extensive experience designing and installing these systems will ensure that your solar array is installed correctly and with as little stress and disruption for you and your property as possible. Here are a few things to look for when reviewing solar estimates.

Making property improvements to your home or business can be a big investment. When you’re investing in a source of energy to support your needs, it’s important to take multiple factors into account.

When searching for ways to finance solar panels, many installers will advertise solar power purchasing agreements (PPAs) as an easy and low maintenance option. Solar PPAs are fantastic for reducing your electricity bills and providing ease of mind when it comes to fulfilling your energy needs.

If you're looking to invest in solar energy for your property but can't afford the upfront costs of the installation process, Property Assessed Clean Energy (PACE) loans are an innovative financing option.