The Homeowner's Guide to Solar Panels



Solar power shines bright in its potential to provide homes across the US with energy efficient. And the solar panels are becoming increasingly more attractive to homeowners, many are beginning to wonder if now is the time to make the investment.

The market for solar energy is growing rapidly, with the US Office of Energy Efficiency and Renewable Energy reporting that the current solar panels more affordable, more accessible, and more common in this country than ever before. Installation of solar panels has grown 35-fold in the last decade or so, with a current capacity which is enough to power the equivalent of 12 million homes-and the installation is expected to double by 2023. Meanwhile, the average cost of solar panels has fallen by almost 50% since 2014, greatly reducing upfront costs for homeowners and increase energy savings further.

So should you make the switch to solar? Here's what you need to know to make an intelligent decision for your home-and your wallet.

Are Solar Panels?
In its simplest definition, photovoltaic solar panels, usually abbreviated simply for solar panels or PV panels, is a structure that utilizes light from the sun and convert it into energy. This energy is renewable, sustainable, usually mounted on the roof and can be used to power your home, replace less efficient energy sources (and more expensive), such as electricity and natural gas.

If you look closely at the solar panel you will see a box, with each square photovoltaic cells that generate a magnetic field that strips electrons from the light particles coming from the sun. The same panel then change their electrons to a power source, transferring them to the cables where they can go to work like other resources at home.

As the solar industry has become more advanced, so too has the panel. Solar panels today are smaller and more efficient than they used to, making them much more accessible to the average US homeowner.

How Much Do Solar Panels Cost?
The average cost for solar panels and installations in the United States is $ 13 142 after tax credit, according to EnergySage. Price is determined by the wattage, the more watts, which means more energy, and an average price of $ 2.96 per watt. The more wattage you need more you will end up paying, because you will have the equipment and higher installation costs.

the cost of solar panels varies by country. Currently, Washington has the lowest price per watt, while Iowa and Rhode Island rounds out the top. Prices also vary based on the manufacturer.

If you do not want to buy solar panels, leasing also an option. Leasing solar panels are face cheaper than buying them and some companies even offer a $ 0-down leasing, but you will have to pay a monthly fee to use. solar lease is generally offered with a 20 to 25-year term, with a fixed monthly payment increased by a set percentage each year.

Solar Tax Credit
Offset the cost of purchasing solar panels for your home is a federal and state solar tax credits. This credit incentive sustainable use of solar energy, and has largely been responsible for the surge in usage over the last decade (Federal Solar Investment Tax Credit (ITC) just coincide with 10,000% growth in the industry).

There are two types of solar tax credits to be aware of: federal and state.

Federal Solar Investment Tax Credit (ITC) provides a tax credit of 26% of the purchase price and installation of panels for residential and commercial properties. You can learn more about the requirements of ITC here.

State solar tax credits on the other hand varies depending on where you live. Credit operates closely with ITC federal in that they are tax credits you a certain percentage of the amount you pay for your solar panels, but they differ widely into the country, with some countries offering solar tax credits are quite large and some of the victims are not at all ,

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