It is possible to save money by investing in solar panels in Pennsylvania. You will also be able to make a nice investment return. Pennsylvania's solar industry has been booming over the last few years, and the state is a prime candidate for solar growth. Before you decide whether you want to go solar, here are some things you need to be aware of.
Although there are many good reasons to invest in solar panel technology, the tax credit for solar panels is the best. 30% tax credit is available for solar energy systems installed on roofs. This credit can be used to purchase a wide range of equipment including solar panels and solar hot water heaters.
Pennsylvania's legislature has also allocated significant funds to the solar industry. The state is also home to the Keystone Solar Project, which has the capacity to power 700 Pennsylvanian homes.
Pennsylvania also has a slew of solar-related legislation that may be of interest to homeowners. In fact, the state's pending renewable energy legislation is likely to increase access to solar power for a lot of Pennsylvanians. However, some of the proposed legislation hasn't yet made it out of committee.
In the mid-1990s, the state's electricity restructuring law established a program for clean energy public benefits. AEP is an alternative energy portfolio standard (state) that promotes solar. AEPS directs utilities to make renewable energy a priority by converting at least 18% in their capacities by 2021.
A plus for solar enthusiasts is the state's net-metering law. This makes solar panels more affordable, especially when it is paired with a federal credit.
Solar panels can not only reduce your electricity bills but also increase the value of your house. Solar panel installation can increase the home's value by an average of 4%. This is a substantial amount of money, especially when you live in a home that can be converted to solar energy.
The cost of solar panel technology has fallen 80 percent over the past decade. This is despite the fact that it has made great strides in the technology. For more information about what you can expect when installing solar panels, check out the Department of Environmental Protection.
Pennsylvania is the best place to go solar. Talk to an expert before making any final decisions about installing solar panels onto your roof. They will be able to tell you all about solar incentives and the best solar features.
The biggest incentive for installing solar panels in Pennsylvania is the aforementioned solar credit. If you want to reduce your electric bill, however, a power purchase agreement will work best. This agreement is similar to a leasing agreement. This way, you don't have to make a down payment, and you start saving money immediately.