Cost Of Household Solar

An ordinary domestic solar system can cost between $15,000-$29,000 for averagely sized systems sized ranging around 4kW and 8kW. Contemplating that you could spend up to $33,396.00 in electrical bills over the next 25 years, this can be a small cost to pay for solar in New York. Yet, for too many people, that still describes too large of an upfront payment. The immeasurable news is that many of the solar providers we work with offer a kind of great solar financing and leasing options to help offset some of the initial solar installation prices. Also, low-interest rates may be available for a solar home financing and installing solar panels can enhance the value of your home as well.

The specific price of your solar system will depend on the appropriate home solar rebates and incentives possible in your area that you qualify for and the type of solar installation you chose. Practicing hiring a qualified solar energy installer who is familiar with the local incentives and permitting method will ensure that you get the most from your investment.

Rebates

One of the significant parts of solar power in the U.S. is that there is a large number of tax incentives and rebate arrangements that exist to make it easier to afford solar power for your home. The solar installer that you select will be up to date on all the appropriate incentives based on where you live but below are some of the basics.

Solar Tax Credit

Investment Tax Credit (ITC) gives individuals to deduct 30% of the price of a solar system from individual federal income taxes and has accommodated grow domestic and industrial annual solar installations by 1,600 percent since its implementation in 20062.

State Rebates

Many states offer cash rebates that are each flat amount or are based on the size of your solar power system, verify out the U.S. government’s Database of State Incentives for Renewables & Efficiency for more data on the rebates in your area; Property Tax 

Residential Solar

Many state and local governments also explicitly exclude the added value of a house solar energy system from your annual property taxes. There are currently 38 states offering property tax exclusions for renewable energy, decreasing the financial burden on the taxpayer for installing a solar energy system.

Municipal And Utility Discounts

In addition to the federal and state considerations, many local municipalities and utilities may also offer encouragement programs for home solar. Please check out the Database of State Incentives for Renewables & Efficiency for any qualifying solar incentives in your particular region. 

Want to save and be guided by experts who do the research and know the answers? Go to HahaSmart.com and try our price checker tool. How much solar power you need and how much you can save on your energy bills each month.

Please visit our solar blog to find out more about how the savings on solar panels keep on coming.