5 Compelling Reasons to Install Solar Panels Now
- For now, you can get money back from solar rebates. For existing homes and new construction (no rentals), there is currently a 30% federal tax credit, with no upper limit. Other credits and rebates may be available if you have your system installed by a certified installer. In central Illinois the most common incentives are Net Metering, Residential Renewable Energy Tax Credit, Special Assessment for Solar Energy Systems, USDA Rural Energy for America (REAP), Modified Accelerated Cost-Recovery System (MACRS), and Green Energy Loans.
- It’s also gotten a LOT cheaper to install. According to the latest report by the Department of Energy’s Lawrence Berkeley National Laboratory, the installed price of solar photovoltaic (PV) power systems in the United States fell substantially in the last 5 years. Since electric utilities have little incentive to control costs, installing solar panels has become very cost effective. In many states, solar companies are able to underprice utilities already.
- Solar panels add value to your home. According to a 2015 report from the DOE’s Lawrence Berkley Laboratory, solar panels can add value to your home when it’s time to sell.
- People need power, and would usually prefer to get it from a local, non-polluting source. If you have to buy power anyway, it makes logical sense to get it from a cleaner, cheaper, local source such as solar panels, rather than from polluting, expensive fossil fuel utilities.
- The technology has vastly improved. It used to be generally thought that the Midwest had too many cloudy days to make solar energy systems worthwhile. But over the years solar technology has evolved to get results in a wide variety of climates. Champaign – Urbana has greater solar potential than Germany, as shown in this National Renewable Energy Laboratory map, and Germany has become a world leader in solar energy use.
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“I’d put my money on the Sun and Solar Energy, what a source of Power! I hope we don’t have to wait until oil and coal run out, before we tackle that.” –Thomas Edison