If you're reading this, chances are you're at least a little bit interested in learning more about solar power costs for your home or business. You may have heard that solar photovoltaic (PV) panel systems are expensive. This has been true in the past, but in many instances, solar panels can save you a lot of money over your current utility bill. Indeed, the price of solar panels has dropped almost 80% over the last decade, with total installed systems costs including labor and permitting dropping over 55%.
Great news for solar shoppers! The 30% US Federal Investment Tax Credit (ITC) for solar electric systems has been extended for the next four years through 2019, and then drops slightly to 26% in 2020, and then 22% 2021, finally capping out at 10% after that. What this means for solar buyers is that the price of a solar electric system is reduced by 30% on your tax bill, assuming that you have a tax liability to offset.
This week brings good news for both homeowners and business owners in Massachusetts looking to install solar panels. Washington, D.C.-based Sol Systems announced a trio trio of finance options designed to make solar energy even more affordable throughout the state.
While the world was saying goodbye to 2010 on New Year's Eve, many in the solar industry were gladly welcoming in 2011 -- a year that brings with it the extension of a federal renewable energy grant program for commercial solar projects, and a number of other helpful solar incentive programs.
Some folks in South Carolina -- which is currently ranked a dismal 20th in the nation in terms of total installed renewable energy capacity -- are making an effort to move the state up in the ranks.
Sun Edison announced today a partnership with the electronic manufacturing facility Flextronics to begin construction on solar photovoltaic (PV) panels in Ontario, Canada. A specific aim is to help the region fulfill product demand for its new feed-in tariff program (FIT) -- the first such electricity pricing structure in North America. A FIT ensures that an owner receives a premium for the clean energy they generate.
In 2009, the United States federal government converted a 30 percent tax credit for business owners who power their property with solar energy into a 30 percent treasury grant. What's the difference? The property owners receive a check reimbursing them for 30 percent of the project's cost within 60 days of completing the installation rather than waiting to use the tax credit against taxes they owe once a year.
Standard Solar -- a Maryland solar installation company -- has partnered with Sol Systems to help make clean energy more accessible for mid-Atlantic homeowners.
Los Angeles homeowners: your solar rebates may be on the chopping block.