How Government Funded Solar Panels Benefit Homeowners
May 26, 2023
Government funded solar panel programs have been gaining popularity in recent years as a means to encourage renewable energy adoption. These programs provide incentives and subsidies for homeowners and businesses to install solar panels on their properties, making it more affordable for them to access renewable energy.
One of the key benefits of government-funded solar panel programs is that they provide financial support to homeowners who may not have the resources to install solar panels on their own. These programs can provide rebates, tax credits, or other forms of financial assistance to help offset the upfront costs of purchasing and installing solar panels.
Finding Benefits Online
DSIRE is the most comprehensive source of information on incentives and policies that support renewable energy in the United States. It is operated by the N.C. Clean Energy Technology Center at N.C. State University and was funded by the U.S. Department of Energy. By entering your zip code, DSIRE provides you with a comprehensive list of financial incentives and regulatory policies that apply to your home. Additionally, an experienced local installer should be able to assist you in claiming any state and local incentives, as well as the ITC.
Some benefits include:
- Energy-Efficient New Homes Tax Credit for Home Builders
- Sales and Use Tax Exemption for Electric Power Generation and Storage Equipment
- Self-Generation Incentive Program
- State Solar Initiative-Solar Thermal Program
- Low Income Home Energy Assistance Program
- Residential Energy Efficiency Tax Credit
By reducing the cost barrier, government-funded solar panel programs can make it easier for homeowners to access renewable energy. This, in turn, can lead to a variety of benefits for homeowners, including reduced energy bills, increased energy independence, and a reduced carbon footprint.
Reduced Energy Bills
One of the most significant benefits of installing solar panels is that they can help homeowners save money on their energy bills. Solar panels generate electricity from sunlight, which can then be used to power a home's appliances and electronics. This means that homeowners can offset some or all of their electricity usage by reducing their dependence on the national grid. In other words, your electricity bill could shrink or disappear all together (depending on your average energy consumption).
In addition to reducing energy bills, solar panels can also increase the value of a home. Many home buyers are willing to pay a premium for homes with solar panels, as they recognize the long-term cost savings that come with solar power.
Increased Resale Value for Your Home
Buying a solar energy system will likely increase your home’s value. Solar panels are often viewed as upgrades and home buyers have been willing to pay a premium of about $15,000 for a home with an average-sized solar array. Additionally, many people say homes with solar panels sell faster than those without. Homes with solar panels are viewed as modern, eco-friendly, and cost effective, making it more desirable to buyers.
Home owners typically place their solar panels on south-facing roofs to get the most bang for their buck. This is the most common kind of placement you will see in homes located in the city or the suburbs. For homes that are in rural areas, home owners can either keep the solar panels on their roof tops or they can affix the solar panels on the property grounds or other outlying buildings.
Reduced Carbon Footprint
Finally, government-funded solar panel programs can help homeowners reduce their carbon footprint. Solar panels generate clean energy that produces no greenhouse gas emissions, which can help reduce the environmental impact of a home's electricity usage.
This can be especially important for homeowners who are concerned about the environment and want to reduce their impact on the planet. By installing solar panels, they can take a tangible step towards sustainability and reducing their carbon footprint.
In conclusion, government-funded solar panel programs can provide a range of benefits for homeowners. By making it more affordable to access renewable energy, these programs can help homeowners save money on their energy bills, increase curb appeal, and reduce their carbon footprint. With the growing demand for renewable energy, it's likely that we'll see more government-funded solar panel programs in the coming years, which could further accelerate the adoption of solar power and help us transition to a more sustainable future.