11 Jan PRODUCT PERK: What You Need to Know!
At Vision Solar, we want to spread the word on the perks of switching to solar. More than anything, we want to educate all of our customers on all of these perks. Transparency is the perfect way to highlight all of these perks.
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Here is what you need to know!
Rebates and Incentives:
Each state has a multitude of incentives for switching to solar in your home. The current, and most popular, incentives that are still in place include: Federal Solar Tax Credit, Sales Tax Exemption, and Property Tax Exemption.
The Federal Solar Tax Credit is a way for you to earn from 26% of the installation costs back. The Property Tax Exemption earns consumers up to $15,000 in savings because your property tax will not go up with the installation of solar panels. Last but not least, the Solar Sales Tax Exemption prevents you from having to pay sales tax on your solar panels.
One of the best benefits of your solar energy is the amount that you save on your monthly electricity bills. The average household, just in New Jersey, can spend upwards of $3,000 annually on just their electric bill. With the addition of solar power to your home, you can save 20%+ on the monthly electric bill (varies depending on the State you live in and other factors). This all adds up to be a difference of $100 or more on your monthly electric bill. With this, many states continue to raise their prices on electricity. Every year the price per kWh goes up at least 2%.
However, with solar energy, you will not face the increasing costs of electricity. Instead, you will pay the steady rate that is given to you by your solar panel company at the time of signing for your panel installation. This rate is based on the amount of panels you have and the amount of energy you use per month. Rather than overpaying for excess energy, solar costs are based on the customization to your home.
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*Disclaimer : We are not tax advisors