financial

Tax incentives and solar power are always a big topic of conversation. Here’s a look at what tax incentives are available for home and business owners who install a qualifying solar system.

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According to a recent study by EY, more than 40 percent of those planning to buy a new car are thinking of going electric. The rapidly growing popularity of these alternative vehicles coupled with recent federal initiatives to support alternative fuel sources has helped 47 states implement EV and solar incentives, helping to accelerate this trend further.
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The solar energy market is rapidly accelerating and has been for roughly the past ten-plus years. Now with the recently signed $1.2 trillion bipartisan infrastructure bill and a pledge by the Biden administration to move the U.S. to be 100 percent carbon-free by 2035, investors are taking notice.

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If you’ve ever considered solar, one question you may have is “how do I afford the upfront costs of the system?” Fortunately, with the growing popularity of solar, there are also more options available for consumers to finance their solar. Below we take a quick look at one of these options—direct financing.
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With solar energy only accounting for roughly two percent of the world’s electricity, it would be fair to assume that big utility companies have nothing to worry about. But you might be surprised to find out that isn’t the case.

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Making the switch to solar has always been a great opportunity for those looking for a reliable source of renewable energy and ways to save on their energy bill.

While using the energy you create from your solar photovoltaic (PV) system can help decrease the amount of energy you pull from the grid, net metering can also help increase your savings by receiving a credit for the excess energy you produce from your utility company.

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Now that your solar panels are producing clean, renewable energy, there are a few items on your monthly utility bill that you may want to pay attention to depending on what state and local programs apply to your solar installation.

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As a consumer, making informed decisions on how to minimize your energy costs is important to you, and understanding how you’re charged by your utility is a crucial step in getting the most out of your dollar.

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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.

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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.

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