Solar for home use is becoming more and more attainable for most homeowners as costs have decreased steadily over the last 15 years. 

More over, home solar systems are eligible for many federal, state, local, and utility financial incentives that can help reduce the up-front installation costs by 40% to 50% or even more.

One major act of legislation that has had a significant impact on the growth of solar for home use is the Emergency Economic Stabilization Act of 2008.

This piece of legislation establishes a 30% tax credit for 8 years for properties placed in service after December 1, 2008.  Secondly, this law allows utilities to benefit from the credit, and finally, it allows Alternative Minimum Tax (AMT) filers, both businesses and individuals, to claim the credit.

Solar for Home Use – Five Reasons it Makes Sense

1. The obvious reason is savings on your utility bills.  With rising energy costs, solar power is a great way to reduce one’s dependence on power companies.
2. Secondly, solar power will keep your home up and running during power outages.  This is particularly advantageous if you live in an area that is subject to frequent power outages due to hurricanes or heavy snows.
3. A home which utilizes solar power has a higher resale value.  It is estimated that every $1.00 in annual utility bill savings results in a $20.00 increase in your home’s value. It is also estimated that solar homes sell up to two times fasters than homes without solar power.
4. Solar power is a clean, reliable, renewable, free power source which can be enjoyed up to 30 years with most solar power systems.  A solar electric system can significantly reduce greenhouse emissions as well.  An average two-person home emits around 41,500 pounds of greenhouse gases per year.  Furthermore, solar electric power reduces America’s dependence on foreign fossil fuels.
5. Finally, solar for home use helps boost the economy by creating jobs and new solar companies.

How Much Will Solar for Home Use Cost?

It is estimated that solar for home use costs approximately $8.00 per watt installed.  So, a typical 3-kilowatt residential solar electric system would cost around $24,000.  Costs vary depending on the system size and rating as well as installation conditions.

Take Advantage of Solar for Home Use Rebates

It is important to note that costs of installation, after rebates and incentives, could be reduced as much as 50% depending on your particular state.  For more information check out www.dsireusa.org for rebate information for your particular state.

Now, even $12,000.00 may sound like a lot of money to spend on solar power; however, a typical solar electric system will last 30 years and will pay for itself in 4 years after tax credits and rebates.  So that means you will be enjoying free electricity for years to come, once you recoup your initial investment.

Isn’t it Time to Consider Solar for Home Use?

If you have been considering solar for home use, perhaps now is the time to go solar.  Now, more than ever, solar electric systems are more attractive due to falling costs and increasing efficiency.  This coupled with the rebates and incentives makes solar for home use a home run! For more information, be sure and check out our post on solar energy facts.