Reside Environment friendly: What to contemplate about solar power in your residence – Life-style – fosters.com
Eversource is ready to help you securely connect your solar power to Eversource’s electrical grid to produce clean energy for your home or business.
Here are some facts about solar energy:
Almost 90% of Americans are in favor of expanding solar power, according to a poll by the Pew Research Center, and the numbers back it up.
The US solar industry’s revenue has increased from $ 42 million in 2010 to $ 210 million.
Between 2012 and 2017, almost 10 gigawatts (GW) of solar capacity were installed in households across the country.
There is now enough solar capacity installed to power more than 11 million households a year.
Reasons for a solar system:
By adding solar power to your home on the roof, you reduce your utility company’s electricity consumption and the fluctuating costs associated with it.
While you will still need to be plugged in if your solar panels are not producing energy, you should see significantly lower monthly electricity bills than you did before solar power.
Incentives from Eversource and the state government, as well as federal tax credits, help make installing solar power an affordable investment.
Support a renewable energy source.
Fossil fuels like coal, oil, and gas don’t last forever. This is why renewable energies are so exciting: the supply cannot be exhausted. Sunlight is present in our daily lives and solar energy is a great option for future energy production.
Go green with an environmentally friendly system.
Solar is an effective way to reduce your carbon footprint while reducing pollutants such as sulfur oxides and nitrogen oxides that are produced when burning fossil fuels. Solar energy is an emission-free source of energy. There is no waste that pollutes the environment.
Potentially increase the value of your home.
According to Zillow, houses with solar panels sold about 4% more than comparable houses without solar energy. While this number is market based, you can view your installed solar system as adding value when you put your home up for sale.
Your options for purchasing a solar system range from direct purchase to loans and leases.
Buying your solar system directly (with cash or a loan) allows you to take advantage of most of the financial incentives, but the upfront cost can be significant.
With a solar loan, you can fund your system just like any other large home improvement business. Solar loans can be offered by solar module manufacturers, banks and other credit institutions.
The Massachusetts Department of Energy Resources (DOER) and MassCEC have partnered to offer the Mass Solar Loan program, which connects Massachusetts homeowners with low-interest loans for solar power systems.
Leasing your solar panels is similar to renting or buying your home. When you sign a rental agreement, you agree to make a fixed monthly payment to the solar leasing company and, in turn, benefit from the potential energy savings made by your solar panels.
With a rental agreement, you receive two monthly bills, one from the solar company and one from the electricity company.
A solar power purchase agreement is similar to a rental agreement, but instead of a fixed monthly payment, you agree to buy the electricity generated by your solar panels at a set price per kWh. The rate is usually lower than the rate you would pay your energy company, but it can increase over time.
Note: With a lease or PPA, the solar company, not the homeowner, is entitled to tax credits or other financial incentives.
Leases and PPAs can range from 10 to 25 years. The solar company is responsible for the operation and maintenance of the system for the duration of the agreement. When the contract expires, you may be able to renew the agreement, purchase the system, or have the solar company remove the system.
There are financial incentives:
State and federal tax credits
The federal government offers a loan of up to 26 percent of the qualified project costs (decrease to 22 percent in 2021 and 0 percent in 2022). Individual states also offer tax credits for energy savings. Check with your tax advisor to determine if you qualify for credits.
Cost vs. Savings
Before investing in a solar panel system, it is a good idea to research the actual savings that you can make over the life of your solar panel system.
You can find more articles on our Live Efficient page at https://www.seacoastonline.com/topics/live-efficient