The threat of climate change is real, and as a result, concerned homeowners have been going for green energy, more specifically, solar panels. However, it’s not just the environmentally friendly aspect that makes solar so appealing. There are economic benefits too, including the new US climate bill solar incentives. You might have also heard of this as the Biden solar tax credit or federal solar tax credit of 2022. Here is how going solar in 2022 can save you money!
What Is the New US Climate Bill? (Or Federal Solar Tax Credit 2022)
President Biden recently signed the Inflation Reduction Act of 2022, which, among other things, includes climate initiatives that have made going solar easier on the wallet. One of these initiatives is an extension to the solar investment tax credit. With the solar tax credit, you’d get 30% of your home solar installation costs back on your next tax filing. That percentage used to be 26%. The 30% rebate has been extended for the next 10 years, will go back down in 2033 to 26%, and in 2034, 22%.
You can even take advantage of these benefits through retrofitting: With this bill, it’s possible to reconfigure a battery to a solar array and still qualify for the credit.
Other Economic Benefits of Solar Energy
The economic advantages of solar energy go much beyond the US climate bill solar incentives. With all the savings solar power offers, you’ll be able to resist the ever-increasing energy expenses. Even financing alternatives may be available from your solar contractors to assist you to offset the initial expense.
Increased Property Value
With solar, your home’s value will rise, allowing you to sell it for more money if you ever decide to put it on the market. Potential buyers might find it hard to turn down a home that is energy-efficient and environmentally friendly.
Extra Roof Protection
Roof replacements can be stressful and expensive. Excellent solar panels not only have a long lifespan of their own but also shield your roof from the weather, extending the life of your roof. You may avoid having to replace your entire roof, which is pricey! And with the solar tax credit of 2022, the amount to install solar panels may be completely worth it to prevent costly roof issues.
Lower Energy Bills
For a plethora of reasons, you’ll reduce your energy costs. By containing all the heat, the panels will keep the house cooler in the summer. This means your AC won’t have to work as hard. You’ll always have an energy source for your home because the sun’s rays are abundant and free.
Net Metering Opportunities
The majority of household solar panels are eligible for net metering programs. Any power you don’t consume each month is returned to the grid through net metering. For that power, you’ll receive credit toward your utility bills. You might not need to turn on lights or heating/cooling systems on lovely, sunny days. However, you’ll still be producing energy all day long that you can use to pay later costs. When combining this with the US climate bill solar incentives, think about the savings!
How To Save Money With Solar When the Upfront Cost is High
You may be wondering how you can get started with solar when you’re on a budget. Even though the cost to install solar is 100 times cheaper than it was 50 years ago, it still isn’t cheap. Always question companies that offer free or extremely cheap solar: that may lead to a bad situation!
The best way to plan a big purchase like solar is to get a quote on how much your installation might cost. We offer free solar consultations at Energy Shield of New Hampshire. You should also anticipate US climate bill solar incentives and make sure you’re on track to receive those. Make sure you can afford your system even before the solar tax credit, just in case!
After preparing for the initial cost, you should also anticipate your ROI. You want to know your system is well worth the cost. Our solar calculator can help you find the system size that will meet your bill-offsetting goals!
Calculate Your Potential Energy Savings With Our Solar Calculator
Several aspects are taken into account by our unique solar calculator. Your results are influenced by your property type, average monthly costs, daily sunlight hours, and offset percentage target. Using that information, the calculator generates a rough estimate of the system wattage you’ll need.
The system you’ll need will, of course, depend on a number of additional considerations, like the direction of your property, the pitch of your roof, and shade. At your free solar consultation with Energy Shield, we consider these variables to provide a more accurate estimate.
You will receive a result in kW after inputting the property type (residential or commercial), your typical monthly power cost, the average daily sunlight hours, and your desired bill offset.
Your budget, the quantity of energy required to cover your basic needs, your desire to maximize ROI, and the amount of roof space you have available will all affect the final size of the solar system you choose. Your result in kW will give you a rough suggestion.
If you get in touch with a dependable solar provider, you’ll be able to nail these details. Energy Shield always works with you to determine the most cost-effective option that saves a significant amount of energy.
Solar Energy For Your Home: Where to Start
With these new benefits, now is the time to get in touch with your solar contractor and start asking questions. Going solar is a big investment and achievement for both your energy savings and the planet.
If you’re local to New Hampshire, start with us. We at Energy Shield have over 40 years of experience establishing energy-efficient homes. Our expertise is in solar, and we ensure that your system is efficient, reasonably priced, and provides you with a fantastic return on investment. You can begin your solar journey right away by chatting with us today!