Solar energy has become more affordable than ever before. The cost of installing a solar panel system has dropped, and solar tax credits are still available for homeowners who install their systems. So, what’s stopping you? Here’s everything you need to know about affording a solar system in your home and how Circuit Electric Solar can help make that happen!
The Cost of Solar Systems Has Dropped
The cost of solar and its viability have been dropping steadily over the past decade. In 2009, you could expect to pay around $8 per watt for a rooftop system (a standard 100-watt lightbulb uses about 10 watts). Today? That same system will only set you back about $4 per watt–a price drop of 80% since 2009!
Solar Tax Credits Are Still Available
The federal government offers tax credits for installing solar panels on your home. The distinction is a 30% reduction in your taxes, which means you’ll get to deduct 30% of the cost of installing your system from your gross income before calculating taxes, resulting in a dollar-for-dollar reduction on your final bill.
Homeowners who install solar panels can take advantage of a federal tax credit involving the following:
- the price of solar panels.
- the installation labor expenses, including permit fees, inspection fees and developer fees, and
- any extra solar equipment charges if your home has batteries are all eligible for the credit.
- sales taxes on qualified costs are also included in the credit.
Financing is Available
Financing is available. If you’re considering buying a solar system but don’t have the money in savings to cover the purchase price, then financing might be right for you.
Solar loans can be used for both residential and commercial properties. They’re more affordable than you think! Here at Circuit Electric Solar, we can help spread the overall cost of the system out on a flexible term which usually comes in much lower per month than what you currently pay.
- Zero down and no out-of-pocket costs
- Interest Rates start at 1.99%
- Multiple term options starting at 5 years to 25 years.
- No Prepayment Penalty
- Options to re-amortize loan per 18 months to continuously lower your payment.
- Quicker Return on Investment *Subject to credit approval*
Solar is More Affordable Than You Think When You Choose Circuit Electric Solar
Solar is more affordable than ever, and the cost of going solar has dropped dramatically in recent years. Solar is also an investment that can recoup its costs and then some. You’ll see returns on your investment within 5-7 years, which makes it easier for homeowners who want to go solar but don’t have enough cash on hand.
Solar is a wise investment, and it’s never been more affordable. Whether you’re looking to save money or help the environment, installing solar panels on your home can be a great decision. If you want to explore all of your options for financing or tax incentives, contact us today!
