For most people, it is no surprise that solar energy is growing exponentially. A 2015 report from GreenTech Media reports that as of the fourth quarter of 2014, the U.S. has 18.3 gigawatts (GW) of installed photovoltaic capacity with an additional 1.7 GW of concentrated solar power. The United States Energy Information Administration concurs: In the twelve months through October 2015, utility scale solar power generated 25.3 terawatt-hours (TWh), 0.62% of total U.S. electricity. At the same time, in 2015 (Jan-Oct), 32% of all new electricity generation capacity in the USA came from solar.
And, even better, there are numerous financial incentives to go solar. Here are just three:
State Incentives. Departments of State Incentive for Renewables and Efficiency (DSIRE) website lists the many state backed incentives to go solar. Some of the best states to go solar are California (which offers up to $6,000 for homeowners), New Hampshire (which offers a $3750 residential rebate) and Louisiana (which offers a $12,500 tax credit). Many states also offer property tax financing – which allows homeowners to add the cost of solar onto their property taxes.
Federal Tax Credit. The federal tax credit for solar was extended for eight years as part of the financial bail-out bill, H.R. 1424, until the end of 2016.
PACE Financing. An innovative financing arrangement pioneered in Berkeley, California, and Palm Springs, lends money to a homeowner for a solar system, to be repaid via an additional tax assessment on the property for 20 years. This allows installation of the solar system at “relatively little up-front cost to the property owner.”
So if you are one of the millions joining the solar revolution, you might also be wondering which panels are best. The following article by Live Science explore the top three solar panels:
Need to look further? A complete list of the top ten solar panels in the United States can be found here:
As always before going solar, it’s best to consult with a licensed roofing professional who can assess your home’s needs and help you decide which solar system would be right for you.
This article is brought to you by ASAP Roofing, a national roofing company with offices in Denver, Colorado; Atlanta, Georgia; Dallas, Texas, New Orleans, Louisiana, and Indianapolis, Indiana.