HomeNewsSolar-Powered House: Is It Worth the Hype?

Solar-Powered House: Is It Worth the Hype?

Solar-Powered House: Is It Worth the Hype?

The US now boasts over 100 gigawatts (GW) of solar capacity. That’s enough to supply power to approximately 18.6 million US homes.

That won’t be the end of it, though, as the nation expects to add even more solar installations this 2021. What’s more, solar is set to power at least 2.5% of all US homes by 2024.

So, what exactly does a solar-powered house offer that makes it a great investment? Is the government doing anything to make investing in solar even more worth it?

We’ll answer all these questions in this guide, so be sure to read on!

Reduction or Elimination of Electricity Bills

Homes in the US used an average of 877 kilowatt-hours (kWh) of electricity per month in 2019. That translates to a little more than 29 kWh of electricity consumption per day.

A house powered by solar power can source a portion of or even all that electricity from the sun. How much exactly depends on the capacity and output of the solar panels, though. However, even if your panels only generate half of your kWh needs, you can still save 50% on your bills.

In any case, the more solar power you generate, the less you’ll pay toward electricity bills.

Solar Power Can Make the Earth Healthier and Safer

Fossil fuel combustion emissions are harmful as they contribute to pollution. After all, the burning of fossil fuels creates gases and particle pollutants. These include carbon monoxide, nitrogen dioxide, particulate matter, and polycyclic aromatic hydrocarbons (PAHs).

All those emissions can cause health effects, too, particularly impaired lung functions. Over time, they can cause lung damage, and ultimately, death.

That’s why environmental experts encourage the use of cleaner energy, such as solar.

Solar power isn’t 100% emissions-free, but it still has a low carbon footprint. This is especially true when compared with the carbon footprint of fossil fuels. Moreover, the process itself of generating solar power doesn’t create harmful emissions.

Federal Government Incentives

The US federal government incentivizes owners of a house powered by solar panels. It does so with its solar investment tax credit (ITC). With the ITC, taxpayers end up paying less for their federal income taxes.

If you install your PV system anytime from 2021 to 2022, you can qualify for a 26% solar ITC. That’s 26% of your eligible solar panel system installation costs. So, if your installation costs amount to $15,000, you can deduct $3,900 from your federal income tax dues.

State and Local Government Incentives

On top of the federal ITC are the state-provided solar incentives.

For example, according to Blueravensolar.com/state-ohio/, Ohio has a net metering program. With this, your excess solar output becomes energy credits you can use for your next month’s bills.

Net metering isn’t only for Ohio residents, though; other states offer similar programs.

Another incentive that some states offer is the Solar Renewable Energy Certificate (SREC). SRECs let you earn extra income based on the amount of solar panel electricity you generate. For every 1 megawatt-hour your system generates, you get 1 SREC.

Many municipalities also offer sales and property tax exemptions for solar properties. For instance, if you live in Cincinnati, OH, you don’t have to pay sales nor property tax for your new solar PV system.

All those incentives then make it more affordable and worth it to have a house powered by solar.

Time to Invest in a Solar-Powered House

The fact alone that solar is cleaner than fossil fuel should be enough of a reason to want a solar-powered house. Don’t forget the energy and cash savings and government incentives you can get. All that should make you realize there’s no reason at all not to go solar.

Interested in even more ways to save, improve your home, or live a healthier life? Head over to our site’s other categories for more tidbits of wisdom then!

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