Solar Affordability And Incentives Have Never Been More Positive
Posted by: Nathan Thompson / Category: Solar EnergySunlight is free and available in endless supply. As the price of fossil fuels (oil, coal, gas) continues to increase, the economic incentive to switch to renewable energy sources grows stronger. Additionally, more and more people recognize the environmental advantages of switching to non-carbon emitting, renewable energy sources like solar. Governments around the world have introduced various measures to improve solar affordability and incentives to encourage households and businesses to switch to solar.
Both national and state governments extend incentives. The range of incentives is very large. In the USA, the federal 2005 Energy Bill was a landmark piece of legislation that provides significant benefits for people installing solar systems. It established a 30 percent residential energy credit for solar for two years capped at two thousand dollars. At the regional level, sun states like California, Texas and Florida are leaders in offering incentives.
At the federal level, the 2005 Energy Bill was a benchmark law that introduced significant incentives. It introduced a residential 30 percent energy credit for selected solar products for two years capped at a maximum of two thousand dollars. At the regional level, sunbelt states like Texas, California and Florida are among the leaders in offering incentives.
A specific case example may be helpful. A Floridian homeowner that installs around approved solar energy products valued fifty or sixty thousand dollars can expect to receive government-funded incentives totaling more than fifteen thousand dollars. The exact amount depends on the specific products purchased. Federal government provides tax credits for purchase of solar electricity (photovoltaic) systems plus water heaters. Several states, Florida being one, provides tax credits rebates for purchase of solar water heaters plus pool heaters. Policies vary across states.
Subsidized financing is also available. Several finance companies provide green loans at loan rates subsidized by government to support the purchase of approved solar products. Fannie Mae, for instance, offers green financing to home owners where the purchase price of approved products is rolled-up into to the existing home mortgage loan.
Photovoltaic systems that have back-up storage in a battery bank have the advantage of being able to maintain electricity supply to a household even when there is an outage on the public grid. Solar pool water heaters can supply up to 100 percent of the heating needs for many family pools, significantly extending their swimming season.
In summary, the switch to solar energy products is firmly underway by homes and businesses alike. Solar affordability and incentives offered by national and state governments assist the switch. The environment is better for it.
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