Have you been thinking about installing solar panels on your Utah home? What’s holding you back?
If you’re like most homeowners, you’re probably concerned about the costs of investing in a whole-home solar energy system. You’re right, it won’t be cheap to outfit your home with solar power.
However, there are incredibly valuable Utah solar incentives that will help you earn your money back in no time. Are they worth it?
We’ll let you be the judge of that. Keep reading to learn about the most important solar incentives available to Utah homeowners.
Utah is one of the best states to invest in solar panels. The state of Utah goes above and beyond to help homeowners like you save money and create green energy.
First, there’s the renewable energy system state tax credit. You can claim 25% of your costs on next year’s state taxes and receive up to $800 back.
Utah also uses net metering. In essence, you stay connected to the power company so you can sell unused power you produce to them.
In exchange, you receive energy credits which can be used when your solar system isn’t producing enough energy. This is common during cloudy days, nighttime, and winter months.
Finally, Utah solar incentives include solar easements and rights for homeowners who invest in solar energy. The state of Utah will help you work with your neighbors to ensure nothing blocks the sunlight powering your home. They also prevent developers from prohibiting residential solar installations.
For more information, work with a competent solar company, like Blue Raven cities. Fortunately, Blue Raven cities include Utah.
Lower Energy Costs
One of the most important Utah solar incentives is reduced or eliminated energy costs. If you invest in a solar system large enough to power your entire house, you won’t have to worry about paying your monthly energy bill.
While this won’t provide massive savings immediately, it will add up over time. Over the course of 10 years, you will probably break even on your solar costs.
Federal Tax Savings
When looking at solar incentives, we can’t ignore the federal tax credit. It’s no secret that fossil fuels are damaging our planet. As such, the federal government offers valuable benefits to homeowners who opt for green energy.
Right now, you can claim your solar system and installation costs to receive a 26% tax credit. For example, if your initial costs were $14,000, you can get up to $3,640 back on your federal taxes.
That means your $14,000 expense is more like $10,000. However, this changes each year so it’s best to act sooner rather than later.
Want to Start Enjoying Utah Solar Incentives?
Between Utah solar incentives, federal tax credits, and energy savings, there’s no reason not to invest in solar power for your home. And we didn’t even talk about how much value solar panels will add to your home.
To learn more about green energy or find more tips for improving your house, stick around. Our blog is full of insightful articles created to help people like you improve their lives in every way.