| It is undeniable that energy prices are going through the | | | | are at work during the day, your solar system sends |
| roof. Just take a look at your utility bill. The good news | | | | energy to the utility and your power meter actually |
| is using solar power can save your bank account, | | | | runs backwards. When you come home at night and |
| particularly with new incentives. | | | | use power, the power meter runs forward. All and all, |
| Personal Tax Credit and Deductions | | | | net metering will either slash or completely eliminate |
| If anything is more aggravating than exploding energy | | | | your utility bill. With solar panel systems having a life of |
| costs, it's your tax bill. New and established | | | | 40 years, think how much money you'll save! While a |
| government programs let you attack both by going | | | | majority of states have net metering laws, not all do. |
| solar. The first method is by simply saving money on | | | | Make sure to check if yours does. |
| taxes. If you install a solar energy system on your | | | | Property Tax Incentives |
| home, the federal government is going to give you a | | | | Property taxes. How we all hate paying property |
| tax credit of up to $2,000. Tax credits reduce your tax | | | | taxes. Well, many states now provide exemptions, |
| liability dollar for dollar unlike deductions which are | | | | exclusions or credits for homes with solar power. Each |
| subtracted from your gross income. A majority of | | | | state handles this issue differently, so look into the |
| states now also offer tax credits you can use when | | | | potential savings in yours. |
| paying state taxes. Each state handles the matter | | | | Rebate Programs |
| differently, but you can expect to get a credit for a | | | | To promote solar energy, rebate programs are |
| percentage of your installation cost or a fixed figure. | | | | offered to homeowners by states and utilities. Again, |
| Net Metering | | | | the characteristics of such programs vary wildly, but |
| Net metering is a concept that has resulted in | | | | typically come in the form of rebates ranging from a |
| exploding sales in the solar energy industry. Net | | | | couple hundred bucks to $4,000 or more. |
| metering refers to state laws that require utilities to | | | | With your utility bills going through the roof, it is time to |
| purchase power generated from your residential solar | | | | consider steps you can take to save money. The |
| system at the same price the utilities would otherwise | | | | economic benefits of going solar have never been |
| charge you for electricity. In effect, net metering lets | | | | better, which makes now the time to convert. |
| you use the utility company as a battery. While you | | | | |