What a great deal that you get the solar panels for your home and the government pays for it, though you will not get solar panel free, but the federal tax incentives can cut the cost by 30 % for residential solar power installation.
Many states have many offers such as incentives and rebates, some of the rebates and incentives match the federal incentive offer. There are other utilities also which have similar offers and many new cities and towns are being added.
In the recent meeting at the Town Hall in Belmont, MA promised to extend all the facilities to have free solar panels installed at their homes. In most cases only solar electric system is covered, but now both solar electric system and solar hot water system are being covered.
It is a matter of interest to see that in most parts of the country a comprehensive solar energy system can be installed at minimum cost. Federal State and Local Program Bolster Solar investment offer a hefty reduction in the prices and installation of solar panels at your home.
This in fact is a better option than getting free solar panels, as the professional installation cost can be around 40 % of the total cost of solar energy system. This will prove to be a double benefit to those households who have installed solar energy system; they not only save 60 % or more of the cost but save lot of money every month on the energy bills.
In addition, if they have tie up with the grid system, they can sell additional power to the local utility. The town of Pendleton has followed the same system, which otherwise would not have been possible to install solar energy system in their homes.
The good thing was that the town residents formed a group and got the group discount on the system which they bought for their homes. The results were very encouraging; it may not be possible to get such a discount in your area, but the department of Energy-Efficient Mortgages which offer specialized and discounted loans for alternate energy projects, this also includes solar energy.
The government program also encourages solar in other ways, most local government exempts the solar energy costs from the property tax, irrespective of the fact that the with the installation the value of your home appreciates.
In addition to this the federal tax credit can be spread out for many years, if the amount is more than the taxable income for the year in which solar energy system was installed. It is not necessary to install a whole house solar energy system to get these incentives; even smaller packages like starter systems are also eligible for these advantages.
It is a fact that bigger is the solar system you get bigger incentives that means more savings and more value addition to your home. Even though you may not be able to get the solar panels free, but with overall incentives and advantages attached to it, this is the most ideal investment for your home.
Thinking of setting up your own home solar power system? If you are, check out the Power4Home program by John Russel where he teaches you how to build a DIY solar panel with a budget of less than $150. For more information, read up on the Power4Home reviews on this blog.