The Financial Benefits of Going Solar

Most of us have heard that going solar can save you money, but considering the high upfront costs of installing solar, how is this really possible? In this blog, we’ll explore the financial incentives and savings associated with solar, as well as a breakdown of tax credits, rebates, and long-term cost savings for Texas homeowners.

Financial Incentives and Savings
Going solar not only lowers your monthly electric bill but also locks in your energy costs, ensuring that you’re no longer subject to price fluctuations that result from increased demand or global energy price volatility. By generating your own electricity from solar panels installed on your property, you can reduce or eliminate your dependence on traditional utility companies and their fluctuating energy prices.

Net Metering: Maximizing Savings
Options like net metering can help you save even more by allowing you to sell any extra power generated by your panels back into the grid. This is a great option for homeowners looking to make the most of their solar arrays without having to invest in batteries. Net metering gives you a credit for selling excess electricity back to the grid that you can then use to purchase more electricity when your solar panels are not generating enough to power all your energy needs, which can happen at night or on stormy or cloudy days.

Tax Credits: Lowering Upfront Costs
Tax credits can further increase your savings and reduce your return on investment (ROI) time by lowering the upfront costs of installing solar. The most notable tax credit is the federal solar tax credit, which covers 30% of the entire cost of your system, saving homeowners and businesses thousands of dollars on their installation costs.

Local and State Rebates and Credits
In addition to federal incentives, other local and state tax rebates and credits are also available. For example, Austin Energy offers a solar photovoltaic rebate that provides $2,500 to customers who complete a solar education course and install a qualifying solar photovoltaic system on their home. These additional incentives can further offset the upfront costs of going solar and increase your overall savings.

Long-Term Cost Savings and Increased Home Value
While the upfront costs of installing a solar system may seem daunting, the long-term cost savings are significant. Once the upfront costs of the solar system are paid off, homeowners can enjoy virtually free electricity for decades to come. Additionally, studies have consistently shown that homes and businesses equipped with solar energy systems command higher resale values and sell faster than those without, making solar a valuable investment for both your present and future financial well-being.

The Financial Benefits are Clear
The financial benefits of going solar are clear, proving that installing solar on your home or business is indeed a worthwhile investment for any homeowner. So, why wait any longer? Take control of your energy future, save money, and contribute to a cleaner, more sustainable environment by going solar with NATiVE today! Get more information for your customized system and to get started on your journey towards energy independence and savings under the Texas sun. #TakeYourPowerBack with NATiVE Solar!