PROS AND CONS
-Power through outages
-Energy Storage allows solar system owners to save the energy generated by their solar panels in a battery.
-Energy stored in this battery can also be utilized cloudy days and during peak time-of-use hours.
Cost: The energy storage battery use greatly depends on your region’s climate and utility pricing structure. This often results in the cost being equal to if not greater than the initial Solar investment.
Space: The best batteries available on the market now take up a significant amount of space inside your home or business.
Lifespan: The best Batteries on the Market are made to last 5,000 cycles. A battery cycle is a full depletion of the energy storage and complete recharging. Meaning the best of the best is going to last minimum 13-14 years if used daily.
As soon as your panels are installed you will see the meter ticks back and savings going up!
If someone were to offer you the opportunity to have your very own gas pump that gave you gas for $2.30/gallon for the next 25-years, would you take it? With solar, you have your very own power plant that will provide you with electricity at lower than market rates for years to come.
When the time comes to sell your home, solar systems can add thousands in value to your sale price. With solar purchases the Return on Investment is 8 years on average! In 8 years your system pays for itself! Meaning solar panels for home cost is paying for itself less than a decade after install.
Reduced Energy Costs
Federal Investment Tax Credit
Performance-Based Incentives
Accelerated Depreciation
Good R.O.I.
Decrease In Carbon Footprint
Fewer Power Outages
Low Maintenance
More Loyal & Satisfied Employees
More Customers
Support of the Local Economy
Increased Property Value
Workmanship Warranty
Product Warranty
Inverter Warranty
Power Output Warranty
Under most circumstances, subsidies provided by your utility to you to install a solar PV system are excluded from income taxes through an exemption in federal law. When this is the case, the utility rebate for installing solar is subtracted from your system costs before you calculate your tax credit. For example, if your solar PV system installed in 2022 cost $18,000, and your utility gave you a one-time rebate of $1,000 for installing the system, your tax credit would be calculated as follows:
($18,000 - $1,000) * 0.30 = $5,100
When your utility, or other buyer, gives you cash or an incentive in exchange for renewable energy certificates or other environmental attributes of the electricity generated (either upfront or over time), the payment likely will be considered taxable income. If that is the case, the payment will increase your gross income, but it will not reduce the federal solar tax credit. Note: A private letter ruling may not be relied on as precedent by other taxpayers.
Unlike utility rebates, rebates from state governments generally do not reduce your federal tax credit. For example, if your solar PV system was installed in 2022, installation costs totaled $18,000, and your state government gave you a one-time rebate of $1,000 for installing the system, your federal tax credit would be calculated as follows:
$18,000 * 0.30 = $5,400
State tax credits for installing solar PV generally do not reduce federal tax credits—and vice versa. However, when you receive a state tax credit, the taxable income you report on your federal taxes may be higher than it otherwise would have been because you now have less state income tax to deduct. (The Tax Cuts and Jobs Act of 2017 placed a $10,000 limit on state and local tax (SALT) deduction through 2025. Therefore, if a homeowner is still paying more than $10,000 in SALT after claiming a state tax credit, the state tax credit benefit would not effectively be reduced by the federal tax rate, as it would not impact federal taxes (due to the SALT limit).) The end result of claiming a state tax credit is that the amount of the state tax credit is effectively taxed at the federal tax level.
Tax credit for residential and commercial properties until 2032 (ROI = 5-6 years.)
Solar is Unique to each individual. Many factors come into play. The easiest way to find out exactly what solar would cost is to allow Solar Systems to give you a free evaluation.
We only use Tier 1 products. With delays in shipping and the backorders on many products we do not guarantee a specific brand, but we are willing to accommodate specific request if the product is available.
Batteries are not required to switch to solar. Solar Systems specializes in grid-tied systems, Basically keeping you hooked up to your Utility company as a back up with a bi-directional meter to record the overproduction of energy and note it on your account as a credit to cover energy usage outside of production hours.
The typical homeowner will need 28 – 34 solar panels to cover 100% of their energy usage. Although, this is dependent on the area required and location.
The direction, age, and pitch of your roof are all important details when considering whether or not to install solar panels. It’s important to note that a roof with a pitch of 30 degrees and no obstructions (Example: any skylights and chimneys) is ideal. It is also important to determine if your roof is in a shadow (direction your home is facing & total sun coverage during the day) Contact our team and schedule a free consultation to see if solar is a fit for your home!
Solar PV systems installed in 2020 and 2021 are eligible for a 26% tax credit. In August 2022, Congress passed an extension of the ITC, raising it to 30% for the installation of which was between 2022-2032. (Systems installed on or before December 31, 2019 were also eligible for a 30% tax credit.) It will decrease to 26% for systems installed in 2033 and to 22% for systems installed in 2034. The tax credit expires starting in 2035 unless Congress renews it.
You might be eligible for this tax credit if you meet the following criteria:
Your solar PV system was installed between January 1, 2017, and December 31, 2034.
The solar PV system is located at a residence of yours in the United States.
Either:
-You own the solar PV system (i.e., you purchased it with cash or through financing but you are neither leasing the system nor nor paying a solar company to purchase the electricity generated by the system).
-Or, you purchased an interest in an off-site community solar project, if the electricity generated is credited against, and does not exceed, your home’s electricity consumption. Notes: the IRS issued a statement (see link above) allowing a particular taxpayer to claim a tax credit for purchasing an interest in an off-site community solar project. However, this document, known as a private letter ruling or PLR, may not be relied on as precedent by other taxpayers. Also, you would not qualify if you only purchase the electricity from a community solar project.
The solar PV system is new or being used for the first time. The credit can only be claimed on the “original installation” of the solar equipment.
For current information on incentives, including incentive-specific contact information, visit the Database of State Incentives for Renewables and Efficiency website.
Most of the solar projects are designed with a positive cash flow, meaning from day one the solar system start providing savings, also in most cases the payment of the solar loan is less than the utility bill so the customer can realize the benefits from the first day.
In most cases if it is a Loan, those loans can either be transferred or the remaining amount can be loaded into the amount of the sale of the house and be used to then pay off your loan with no penalties. Plus the value of the property goes up by at least 15% ~ 20% for homes that have solar.
Solar Systems will only use Tier-1 Solar Panels and Inverters. And provide complete turn key installation service with industry leading quality and support.
This information is held by your utility company and will be needed to accurately calculate your Solar System Project.
Solar Financing, and Cash are the most widely acceptable options.
Options to avoid include PPA loans and Leases.
Solar Systems offers the best solar finance options on the market.
Utilities have drastically increased since 2001
Solar installation costs have decreased in the last decade
Approx. savings on energy bill after going solar
No money down, No upfront cost
Phone: (417) 407-3006
E-Mail: toby@bransonsolar.com
© Copyright 2023 Branson Solar Systems - All Rights Reserved- Smart and Simple Digital Group