What Are the Financial Benefits of Solar Energy?
Incorporating solar panels into your home electrical system could help reduce your monthly electric bills, while also saving energy and decreasing the overall load on the electric grid. In some cases, you may be able to profit from the amount of energy your home panels generate. Let’s take a look at some of the specific financial benefits of solar energy for homeowners.
Protection Against Rising Energy Costs
Over time, the cost of electricity can rise due to many factors. You can help protect yourself from some of the impacts of electricity costs with a home solar panel system. Typically, these systems will last for decades, too. In fact, GVEC Solar services warranties each of our systems for 25 years on parts and 10 years on labor. Just because the warranty on our systems expires after two-and-a-half decades, though, doesn’t mean they’ll stop generating electricity at that point. So protection against rising electricity costs over the long haul is one of the many financial benefits of solar energy.
Credit for Excess Power and Home Battery Solutions
If you’re a GVEC electric member, and your home generates more power than needed, you have the option of selling any excess power back to the Cooperative and being paid in bill credits. For many solar panel owners, though, a better option could be to invest in a home battery storage solution like those offered through GVEC Solar services. These home batteries store excess power generated by solar panels for use at night or during a power outage, potentially increasing the financial benefits of solar energy for homeowners. Be sure to ask us about our home battery solutions.
Tax Credits Reduce the Cost of a Solar System
State and federal tax credits may significantly reduce the amount that you’ll pay to buy and install a solar panel system on your home. The federal Investment Tax Credit (ITC) allows you to save up to 26% on installation costs. This tax credit can be taken all at once or spread out over the course of five years. It’s important to note that the amount of this credit reduces to 22% on Jan. 1, 2021. If you want to get 26% then, you’ll need to purchase and install your solar panel system no later than Dec. 31, 2020.
Call the Experts at GVEC Solar Services
If you’re looking to reduce electricity bills while conserving electricity and achieving greater energy independence, contact the solar solutions specialists at GVEC Solar services. We serve residents in Seguin, Schertz, La Vernia, Cuero, Gonzales and many other areas in and around the Guadalupe Valley. Our specialists are never paid commission, so you can always depend on them for honest, factual information. Certainly, we’d love to serve you through our complete, turnkey solar solution and get your family started on an alternative energy lifestyle; however, our first priority is helping you make informed decisions about how solar power can fit into your family’s electricity needs. All our systems also include a 25-year warranty on parts and 10 years on labor. To learn more or schedule an appointment, call us today at 855-898-8807.