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Solar for your home is one of the best investments you can make. A Solar PV (photo-voltaic) system on your home can:
A PV system, properly designed and installed, will reduce most residential utility bills by at least 40%, and in some cases will completely eliminate your utility bill. These savings take effect immediately as soon as your system is energized. In cases where money is borrowed to pay for the system, the loan can be structured so it is completely paid for by the utility savings.
Solar PV systems have become significantly more affordable during the past couple of years. The price of solar panels (the single largest expense) has dropped by about 50% since 2011. Meanwhile, electric utility rates continue to increase. Residential PV systems offer a fixed, predictable, reliable cost for electricity far into the future. Using current prices for solar installation, and modest projections for utility rate increases, long-term return on investment above 10% per year is not an unrealistic expectation. And because these returns are in the form of savings, they are tax-free.
Solar PV systems also add tax-free value to your home. A 2011 research project by the U.S. Dept. of Energy showed that houses with solar PV systems sold for substantially more than comparable houses without solar. Because solar PV systems are exempt from property taxes, that increased value does not result in higher appraised value - another way that homeowners benefit from solar.
Producing power on the roof top of your house is the most efficient way to generate and use electricity. Called Distributed Generation, the concept is simple; the power produced by the solar PV system on your roof is used in your home, no long-distance transmission lines involved. This point-of-use production makes even more sense in the Southern U.S. where our peak electricity demand ( air conditioning in the middle of the day) is offset by peak production from solar PV systems. And in areas where the utility company charges more for electricity during the hottest part of the day, your savings are that much greater.
About incentives: For most people, incentives to off-set the up-front cost of a solar energy system are in the form of rebates from utility companies and/or local governments, and income tax credit. Rebates vary form place to place, from year to year, and in a deregulated market like Texas, from company to company.
Space City Solar, located in Houston, Texas, installs the finest Solar Electric Systems. Contact our staff to learn more or browse this site for information.