4 ways you get paid by going solar

4 ways you get paid by going solar

14 August 2021 2 min read

Solar is expensive

A solar system is a big investment

Only rich people can afford solar

You may have come across these myths. Let us show you why they are wrong and how you can actually get paid with solar.

You save more

The cost of solar has dropped considerably in the last 10 years as the prices of solar panels and expenses related to installation and permits have fallen. Moreover, the energy efficiency of appliances and other electronic items are upgraded such that they are better compliant with solar energy. Thus, you spend less on the initial installation costs and your consumption over time, leading to more savings.

You get paid for generating electricity

Solar is a significant investment. But the solar system will pay off in 5-7 years. Post that, you will be self-sufficient, generating energy for your consumption. When you generate extra energy, it is sent to the grid, and you earn credits. Typically, solar systems generate electricity in the afternoon when demand is high. The price at that time is higher as well. So, you get paid at a higher rate. You may use electricity for lighting, etc., in the night, when the overall demand is less. So even if you use electricity from the grid, you pay a lesser amount – a twin fold advantage when it comes to overall savings.

You get tax credits

Installations between the years 2021-2022 are eligible for a tax credit of 26% of the cost of the system. It means a homeowner who has gone solar in 2021 or 2022 will get a dollar value equivalent to 26% of the total solar cost reduction in the total federal tax payable by a homeowner. The total cost includes equipment cost, labor and installation cost, related wiring and piping costs.

If the total value exceeds your tax liability, you can carry the remaining amount to the next taxable year.

You increase your home’s value

Solar systems are viewed as upgrades, and the value of homes with solar panels is higher. As per a study by the U.S. Department of Energy’s Lawrence Berkeley Laboratory done along with other institutions and universities, home buyers are willing to pay about $10,000 more for a solar home. So, you will be making a sound investment when you go solar.

Go solar today

By understanding your yearly energy consumption, Team GreenBrilliance can help determine your electricity needs. This way, you can identify the most optimum size of the solar power system that you should install.

Going solar is a fantastic opportunity to save money, earn money and be the environmentally conscious citizen of today. Therefore, we suggest that you do not delay and contact us @ 703-657-0090 or gosolar@greenbrilliance.com to find out how you can make the most of solar.