Solar Affordability And Incentives Have Never Been As Attractive As Now

The price of carbon-based fuels like crude oil, coal, and gas oil continue going up, straining budgets. Savings achieved by switching to solar energy continue increasing as a result. Moreover, governments are assisting people to make the switch to solar. They have introduced a range of measures to improve solar affordability and incentives and in that way encourage the switch to solar. The move is also a positive for a cleaner, greener environment. Finally, it can assist national security because it reduces dependence on oil imports.

Both national and state governments extend incentives. The range of national and state government incentives is very large. In the USA, they include personal tax exemptions, corporate tax exemptions, sales tax exemptions for renewable investments, property tax exemptions, buy-down programs, loan programs and grants as well as industrial recruitment incentives.

For example, a homeowner in Florida who has decided to install a range of solar power systems to the value of about fifty five thousand dollars can expect to receive about 34 percent of that value back as a result of both federal incentives and state rebates. This example is based on the homeowner installing a solar water heater, a solar pool heating system and a 4.5kw solar photovoltaic (PV) systems.

In the USA, Federal government offers tax incentives to support the installation of a range of solar products including PV systems and water heaters. And Florida offers rebates to support the installation of a range of solar products including water heaters and pool heaters.

Several mortgage and general finance companies offer so-called green loans at interest rates subsidized by government to support the purchase of approved solar products. Fannie Mae offers green mortgage loans where the purchase cost of approved energy product purchases is added to the home mortgage loan.

Switching to solar energy is good for the environment. It assists adverse climate change by reducing carbon emissions. As an example, an average sized home solar hot water heater can reduce annual carbon emissions by around 1 ton (precise figure varies depending on fuel source of existing heater). This is equal to the carbon produced by an average sized petrol-driven motor car that is driven 10,000 miles.

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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