The Solar Investment Tax Credit (SITC) has been passed by Congress and has been created as an incentive for solar energy owners and new home owners who wanted to solar install on their homes or businesses. The SITC is basically a tax credit that could save you money on your energy bill and help offset the cost of installing a solar panel system. It has helped make solar energy very affordable to everyone. Since then, the solar industry has experienced an overall average yearly growth of over 50% and has potentially created millions of new jobs during the past few years.
The SITC has benefits for both consumers and businesses. For homeowners, it allows people to take advantage of solar energy while they were still paying their regular electric bill. This way, they can continue to pay their electric bill and have some money left over every month to use as a supplement for their main monthly source of income. This makes the SITC an ideal tax credit for people who are either looking to purchase or rent new homes. For businesses, it enables new business owners to buy and install solar energy systems on their existing roofs. This way, they can cut their monthly energy costs and also reduce their business expenses.
When using solar panel installation in combination with a good payment plan, the panels will pay for themselves in no time at all. Even if you only have small arrays installed on your home, if you are planning on using them for only a few days a week or if you live in an area where sunlight is very seasonal, you can get by with just paying your electricity bill and using your extra funds to payback your loan and begin paying back your lender. If you were to pay your electricity and loan bill each month, you would probably need to take out another mortgage to pay back the initial investment. The SITC does not require any monthly payments, so you can easily save up to 50% of your payment every month.
Another benefit of using the SITC system is that if you are thinking about installing solar panels on your own, you can save yourself a lot of time and hassle. Although there are many do-it-yourself guides on the market, it is a big job when it comes to installing large structures like a house or a commercial building. However, using the SITC system, anyone can easily install small solar panels on their own without needing to hire a professional. The installation process can even be done by children with relative ease.
While there are many reasons why a person might want to pay the price tag of having a solar panel installation system installed on their home or business, not all of those reasons are necessarily financial. One of the biggest reasons why people consider solar panels as an option is because of the impact on the environment as it helps to reduce your carbon footprint. Solar power has virtually no impact on the environment once it has been converted into usable energy. The only thing that is impacted is the cost of purchasing and using the energy at the end of the process. Although the cost of purchasing the panels can be steep, in the long run such a purchase can prove to be much cheaper than paying the ever rising price tag of conventional energy sources.
If you are wondering what the best solar panel option is for you, keep these things in mind. Not only will you find that the installation process is easy and hassle free when using one of these systems, but you will also find that the impact on the environment is minimal. In addition, there is the possibility that this method of electricity generation will someday be totally eliminated. With these benefits, there really isn't any reason to delay installing one of these exciting and relatively inexpensive systems in your home or business. This post: https://en.wikipedia.org/wiki/Solar_energy will help you understand the topic even better.