If you have been struggling with reducing your energy costs or spending too much money on maintaining the efficiency of your current heating and air conditioning system, now is the time to invest in solar energy.
Read about the advantages of investing in solar, and find out why everyone seems to be investing in this renewable energy source.
Why People Are Switching To Solar Air Conditioning
Going green to preserve the environment for our children and grandchildren should be reason enough to invest in solar energy. Not only is it the right thing to do, but it’s also increasingly economically feasible.
The energy efficiency from a solar heating and cooling system substantially reduces a home’s heating and cooling costs. In Texas, heating and cooling costs comprise approximately 65% of a home’s energy consumption.
Understanding The Energy Efficiency Tax Credit
As stated in the Homeowner’s Guide To The Federal Investment Tax Credit For Solar, an energy efficiency tax credit is “a dollar-for-dollar reduction in the amount of income tax you would otherwise owe. For example, claiming a $1,000 federal tax credit reduces your federal income taxes due by $1,000.”
The federal tax credit for solar is a tax credit worth 30% of the cost of a new solar heating and cooling system. So, if you spend, for instance, $20,000 on a new system, you will receive a 30% dollar-per-dollar credit on your federal income taxes.
5 Long-Term Benefits Of Switching To Solar Energy
- Thousands Of Dollars In Savings: Homeowners in Texas have been known to save up to hundreds of dollars in monthly savings after investing in solar. Extend these savings over a period of a decade or so – less than the warranty on parts and labor – and you stand to reclaim thousands of dollars in energy costs.
- Increasing The Value Of Your Home: Because solar energy reduces energy costs, potential home buyers see this as an attractive benefit to purchasing your home if you’re looking to sell. In fact, the National Renewable Energy Laboratory (NREL) found that high-performance homes sell more quickly than conventional homes.
- Solar Is Secure: Renewable energy costs are fixed, and while utility companies fluctuate their energy costs, you will be able to predict the cost of your energy costs as they relate to solar for the next decade or more.
- Energy Independence: The U.S. is increasingly reliant on fixed energy sources such as oil and petroleum products. Investing in solar helps to reduce our dependence on these energy sources.
- Availability Of Other Incentives: Besides taking advantages of the Federal Solar Tax Credit, other utility rebates at your local level help to increase your return on installation and the price of the unit.
There are other ways to reduce your energy costs besides investing in solar. Learn about them by downloading our tip sheet.