If you've been thinking about installing solar panels to save money on electricity, now is the time before the tax credit ends. According to Consumer Reports, your solar system has to be up and running by Dec. 31 to take advantage of them.
While that may not seem like enough time, Consumer Reports insists you still have enough time to install solar panels. First, it suggested doing thorough research on installers and getting one that's in your area. You can look into ones that neighbors have used.
EnergySage offers an online marketplace that makes it easy for you to search for providers in your area and compare quotes. Also, make sure to check out the reviews, and they should have hundreds of good reviews, not just a few.
Consumer Reports warned against going with a door-to-door sales company. It recommended that you say: "Hey, give me your proposal. I always want to get three proposals."
To ensure your solar panels are up and running in time for the deadline, you'll need a contract signed in a couple of weeks. Roger Horowitz, vice president of Go Solar Programs at Solar United Neighbors, suggested getting a contract signed as soon as Sept. 1.
It can be a high upfront cost of approximately $28,000. However, that's where the tax credits come in. It saves you 30% of that. So, you'll only end up paying $20,000, and it will take you about 7.1 years or sooner to break even. EnergySage can help you get up to $10,000 in tax credits. EnergySage also provides a map of tax credits by state.
If you owe money on your taxes each year, you'll save the most. For example, if you owe $7,000 on your taxes that year and get $7,200 tax credit, you'll owe nothing on your taxes that year. Unfortunately, you won't get the $200 difference.
The solar panels will also lower your electric bill. It can even go as low as $0. You'll need to get your solar panels connected to the grid, and if you send more power to the grid than you use, you can even get a credit from your utility provider.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers that can help you save as much as $10k on installation. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best local options for your needs, and their expert advisers can help you compare quotes and pick a winner. |
Panels also make running other electric appliances, such as superefficient heat pumps, even cheaper. So, if you're in the market for a new HVAC system, EnergySage offers a free HVAC quotes comparison tool to help you secure the best price and heat pump for your home and budget.
Solar panels won't just save you money; they're also better for the environment because they don't use dirty energy sources to power your house. By installing solar panels, society can reduce its reliance on dirty energy sources that warm the planet and intensify extreme weather events.
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Which of these factors is the biggest obstacle preventing you from getting solar panels? Click your choice to see results and speak your mind. |
The upfront cost 💰 
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