Saving Money With Solar Power

Solar power is an exciting industry. Installing solar panels may seem like an expensive risk, but it’s far more rewarding than most people know. Not only will you lower your carbon footprint, but you’ll also be saving money with solar! Lowering your energy bill by creating your own electricity as well as the plethora of tax breaks makes saving money with solar easy. Honey Bees Roofing & Solar wants to make sure you have all the info you need to make an educated decision on solar energy in your home.

What is Solar Power?

Solar power uses photovoltaic cells in large panels. These panels are typically on the roof of a home or building. Photovoltaic cells knock electrons free from atoms, using photons from the sun. Knocking around these electrons creates a stream of electricity. The size of a solar panel is classified by its ideal electrical output in watts. However, a solar panel’s wattage is usually between 15-30% of its ideal output. The ideal output is a solar panel’s “capacity factor.”

Lowering Power Costs

One of the greatest benefits of getting solar power for your home is lowering your electric bill. Texas power bills are about 20% higher than the national average. Also, power bills in Texas are at a slow rise of about 5% a year. So, lowering that bill is a major priority. You would be creating a portion of your own energy with solar panels. That energy makes you less reliant on your utility company and lowers your bill.  Solar panels can save Texans up to $18,142 over twenty years. Utility companies can charge more money during the day than at night, and even more during summer. By making your own energy with solar panels, you’re stopping the utility company from charging you at a variable rate. Making more energy than your home needs can also benefit you because of the TXU Energy Renewable Buyback, allowing you to gain bill credits from that excess energy.

Tax Breaks for Solar

Saving with solar includes tax breaks for using clean energy. When you reduce your carbon footprint, you are rewarded around tax time In Texas, there’s an investment credit known as the Federal Solar Investment Tax Credit. Texans also can benefit from a property tax exemption. That way, when your property increases value because of the solar panels you aren’t charged. Most utility companies also offer rebates to customers with solar panels, giving even more money back. American Electric Power (AEP) Texas, Austin Energy, CPS Energy, or Oncor residential customers can be eligible to benefit from these rebates. If you are eligible, you can receive a cash incentive between $2,500 and $8,500. Eligibility varies, so make sure to check with your utility company.

Solar panels will easily save you tons of money in the long run. Lower your electricity bill and prevent utility companies from charging you extra during peak hours. Also, get extra money from tax breaks and rebates. If you’re interested in saving money with solar panels on your roof, Contact Honey Bees Roofing & Solar online or give us a call today at 817-668-6131 to schedule a free roof inspection!