The benefits of residential solar systems extend well beyond reducing your home’s environmental footprint. A solar electric system for your home will eliminate exposure to increasing energy costs and reduce your dependence on fossil fuels.
Reduced monthly utility bills dramatically increase the value of your home. The California Appraisal Journal estimated that for every dollar saved in energy costs, home value increases by twenty dollars.
The Federal Investment Tax Credit (ITC) provides a 30% federal tax credit for the installation of solar energy systems. The ITC was extended in the fall of 2008 and will be in effect at least for the next 8 years. As part of the extension, the credit value cap was removed, which means there is no limit to the credit on larger systems. Through higher tax credits, homes that install solar may find that the payback period for their solar system has dramatically decreased.
A properly sized residential solar energy system will zero out your home’s energy usage. The ideal system size will produce as much energy as your home consumes and you will pay no electric utility bill. Maintaining your connection to the grid allows you to power your home at night or when weather conditions limit solar production. You can also sell energy back to your electric provider when you’re producing more than you use.
The power your system generates reduces America’s demand for fossil fuel, making us less vulnerable to foreign energy concerns. Not only is this the right thing to do, but clean energy enables America to operate independently.