How Solar Panels Help Save Money

Short term savings are savings you ll see pretty much at the start of having your solar system turned on. People can also profit from solar energy by having solar panels installed on their own homes or businesses in order to take advantage of net metering to reduce utility bills. That means homeowners but not renters can subtract the credit from the federal income taxes they owe in effect reducing the price of their solar purchase by nearly one third.

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There are two types of savings you ll find with solar.

How solar panels help save money.

When your home has solar panels energy from the sun will be used to power your electricity except for when the sun is not present such as during thunderstorms or at night. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system. Save money on electric bills. Using solar panels instead of relying on a utility company can help you cut your electric bill by up to 50 per month.

Even if your electricity rates aren t as high as california prices going solar can still save you money.

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