The Best Solar Power Companies In San Diego
If you call San Diego home, you’re fortunate enough to enjoy sunshine almost year round. You can harness the power of those rays to drive down your electricity cost by switching to solar power! Solar panels work by converting sunlight into power and can provide enough to meet all of your home’s energy needs. This can lock you into lowered energy bills for almost 40 years! Considering that this form of electricity is powered by the sun, it’s almost infinitely renewable and a clean alternative for the environment.
Is Solar Power Right for You?
By installing panels on your San Diego home, you’re taking advantage of one of the best investments in home improvement. Not only will switching to solar power significantly reduce your home’s energy costs, but you will essentially be securing your lower cost for years to come, protecting you and your home against future increases from the utility company. Most solar panel systems can produce energy for up to 40 years and are under warranty for 25 years. If you’ve found yourself frustrated by the constant increases in electricity rates, you are not alone. Many San Diegans are baffled by the tremendous spikes in their monthly bills. Solar provides a unique solution, greatly lowering your bill while benefiting the environment. By converting to this type of electricity, you are doing your part to protect the environment by reducing and even eliminating your home’s dependence on fossil fuels. Panels can be a costly purchase, but there are countless options to lease or finance the cost of switching to solar.
Is It Expensive?
While purchasing a solar system can cost homeowners anywhere from $15,000 to $40,000 there are a variety of financing options available, including loans, leases and PPAs. When you purchase your system outright, you’re able to take advantage of tax incentives, wipe out any monthly cost to run the system, and own your energy from the start. With a loan, you’ll finance your purchase with monthly installments, and still be able to take advantage of the tax incentives. By leasing your panels, you’ll have zero cost upfront and will make low monthly payments, however you won’t be able to take advantage of any tax incentives. Solar loans, similar to a car or home loan, are designed specifically with this home improvement in mind and have little if any upfront cost. Solar leases are similar to car leases: you will pay a monthly fee for the panels, often significantly less than your existing utility bill. In return, the solar company will service your new panels as needed. PPAS, or power purchase agreements, require you to pay for the power your panels produce each month, similar a standard utility contract, but the pricing is reduced based on length of the contract. With this option, a solar company will install and service the panels, but you won’t pay for the panels themselves, you’ll pay for the power. Whether you buy or lease, your utility bill will be significantly lower!
Taxes Credits & Rebates
Chances are, if you’re considering solar panel installation, you’ve heard about the federal tax credit. Also known as the Investment Tax Credit, homeowners can receive a dollar-for-dollar tax deduction equal to 30 percent of the total cost of their solar system. For example, if you pay $20,000 for the installation of your panels, you’ll be eligible for a $6,000 federal tax credit. It’s crucial to note that you are only eligible for ITC if you own your solar energy system, versus lease it. When you lease your panels, the owner of the panels gets the tax credit. With so many options and considerations to explore, work with a trusted solar company to guarantee you’re able to make the best decision for you and your home.
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