WHY SOLAR?
What are the benefits of Solar Energy?
TAX BENEFITS
You may be eligible to recoup more than half of what you spend on your solar installation in tax benefits. Here’s how…
Every solar installation project comes with federal tax benefits. At a minimum, you will receive a 30% Federal Tax Credit when you file for taxes the following year.
Example:
A $40k solar project = $12,000 tax deduction the following year
If you are a business owner, 1099 employee, or in a position to write off expenses from your home, the project is acceptable as an asset purchase to be depreciated. This is the 179D depreciation rule allowing you to depreciate the asset all in one year. This can equate to another 26% tax credit, depending on your tax bracket.
When you install solar and are able to utilize both tax credits, your net cost of the project will be less than half the contract value.
UTILITY SAVINGS
Utility costs increase every year at an average of 5-10%. Utilizing solar power eliminates the effect of those utility price increases!
Utility cost increase of only 5% per year without Solar:
With Solar: With a 15kw installation, you could save more than $100k over the lifetime of the system!
INCREASES PROPERTY VALUE
Homes with solar panels sell for an average of 4.1% more than homes without, according to a 2019 Zillow analysis. That comes out to an additional $9.2k for the median-valued home according to the same report.
As solar becomes even more widely appreciated and used, this value is expected to rise. At the time of the study, research showed around 80% of homebuyers valued energy efficiency in their search for a new home.
When you sell a property with solar, you’re passing utility savings down to the next owner or tenant.
POSITIVE ENVIRONMENTAL IMPACTS
Solar energy decreases greenhouse gas emissions. One home or business installing a solar energy system can have a measurable effect on the environment. For example, most homes in Kansas can install up to 15kW. The industry estimate is that 1kW of solar equals approximately 40 trees. If 15kW was installed that would be like planting 600 trees. Not to mention, solar energy is free and readily abundant - if we could capture all of the sun’s energy shining on the Earth for just one hour, we could power the entire world for one year!
INTERESTED IN LEARNING MORE?
Get in touch today and we’ll answer any questions you might have about installing solar for your own home or business.