What Are Solar Incentives?

03 December 2018

In a bid to put an end to global warming, more and more technological inventions are tilting towards promoting the sustenance of the environment; which is practically the main reason why the solar panels are invented as a means of producing electricity in the first place. To get more people on board to subscribe to this new means of producing power, measures were put in place; in which one of them is to allow the owners of the solar panels to enjoy certain privileges, which are loosely called Solar Incentives.

So you ask, What Are Solar Incentives? This is a measure put in place to ensure that owners of the solar panels enjoy certain benefits, just by installing and using the product. These solar incentives have led more people to subscribe to the idea of installing and using the panels for their homes and business; because not only is it profitable to the environments, it is also profitable to their finances in the long run.

The following are some of the Solar Incentives there is:

1. Solar Investment Tax Credits:

Of all solar incentives available, this is the one that is commonly known. In this case, Solar owners benefit by having the privilege, as made possible by the federal government, to take out a portion of the cost of the solar panels from their taxes. What that means is that the cost of the system is being subsidized by a certain percent, from your taxes. The common investment tax credit percent is 30% of the cost of the solar panel system. Enticing isn’t it? So, if the solar panel system costs $10,000, you are only paying 70% of that amount, with the remaining 30% already footed for from your taxes.

The only twist to this is that to be able to claim the investment tax credit, your taxable income should be higher or equivalent to the investment tax credit.

2. State Tax Credit:

This is basically similar to the federal investment tax credit, only that this time, a small portion of the cost of the solar panel system can be deducted from your state tax bill, relieving you of some costs that would have been invested in purchasing of the solar panel system. The only twist to this is, unlike the federal tax credit, this is not applicable to all states; only residents of some states are privileged to enjoy this package.

For those that could enjoy this package, they could end of saving about 50% of the cost of the solar panel, making it easier for them to purchase the solar panel system and enjoy its benefits.

3. Solar Renewable Energy Certificates (SREC):

The New Jersey’s Solar Renewable Energy Certificates (SREC) program have made it possible for residents in new jersey that have acquired and installed the solar panel system to enjoy a special kind of solar incentives called certificates – though this is not exclusive to new jersey alone.

You may be asking, what are Solar Renewable Energy Certificates?

These are a type of solar incentive that allows owners of a solar system to sell the certificates to their utility. By standard, if you can generate 1000 kilowatts hours (kWhs) from your solar system, you are eligible to get one SREC; and an SREC is worth at least $300. Now imagine how much that figure can rise up to if you can make 6000 kilowatts hours. Let me just leave you to do the mathematics yourself.

If you were once unsure about purchasing a solar panel, this should make you change your mind.

4. Net Metering:

It is common knowledge that some owners of the solar panel system produce more than they can consume, in which they decide to store the overflow in an On-site battery. What if I tell you that instead of storing that in an on-site battery, you can sell to your local utility company and get returns which can be used to foot other bills. Amazing deal, isn’t it? I can bet you think it is.

That’s basically what Net Metering is all about.

So in days, you create more electricity beyond what you can consume with your solar panel system, instead of hoarding it in your battery, you are given another opportunity to get returns for it. Think about the future energy bills and other bills you can foot by selling excess power produced by your system.

5. Cash rebates:

These are basically cash backs for the owners of the solar panel systems. It could come from different parastatals – like the government, utility company etc. – that are concerned about promoting the use of solar energy. This could also help subsidize the cost of the solar system.

With the aforementioned solar incentives available, the idea of investing in the purchase and installation of a solar panel system is becoming more appealing. What are Solar Incentives? I hope this article has done justice to answering that question.

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How to start living off the grid

With things like global warming and climate change becoming increasingly serious topics for discussion, the question of what we can do as individuals to make a difference is being asked more and more frequently. Sometimes it seems futile and the idea that one person can make a difference seems impossible. But the truth is that if lots of individuals are switched on to change then suddenly it’s not just a single person making a difference, it’s a community or a nation and at some point hopefully a world. But what can you do to make a difference and to start using natural resources more sparingly and sustainably? Make informed choices : Just because it is available and it’s cheap, doesn’t mean that it is good. While it might fit your pocket in the short term if it means that your choice is going to contribute to global warming or the rise of the oceans then maybe you need to think twice. Ask questions and tell suppliers what you want. Use a company like Econnex who broker energy solutions across a range of suppliers and make sure you tell them what you want. Price is important, but look to make use of suppliers who use solar and wind as a way of generating electricity, stay far away from old-school fossil fuel solutions. It is possible. Re-use your water : If you collect your used water you will be amazed how much you get through on a daily basis. And unless you have implemented a grey-water solution to collect the used water it all just runs into the drains and disappears. Washing machines and showers and dishwashers. Brushing your teeth. Washing the car. These all use water and lots of it. And there is no need for your water to disappear down the drain after one use, it’s not environmentally friendly and it’s expensive. Water needs to be used as often as possible and with a few simple systems implemented it can be done easily. Solar is real : The sun has all the energy that we need and it is free. Traditionally storing solar energy has been the biggest problem preventing larger-scale rollouts of solar solutions. But on an almost daily basis, the technology that makes solar power effective is getting better and cheaper. Panels are much cheaper than they were ten years ago and batteries and other energy storage system are getting smaller and cheaper while increasing their capacity to store energy. Solar is the way of the future and it is something that can be done on a home-by-home basis. It is even possible to contribute electricity to the national grid and be a supplier rather than a consumer. Collect rainwater : Much like the sun in the paragraph above, rain is another resource that comes from the sky for free. It is clean and free and if we just put in place ways to store it, we could very quickly free ourselves from the need to buy water from the government. It might cost a bit to buy some tanks at the start of the process, but if your plan is to go off-grid and be totally independent then it’s a small price to pay for independence and sustainable living. Read More : What Are Renewable Sources And How To Introduce Them Into Your Household? Create A Stunning Outdoor Space With These Residential Landscape Lighting Tips Close Look At Top 5 Roofing Materials – Pros And Cons

Guide To Choose an Authentic Plumber Service Company

When renovating your home, you will naturally want to repair your kitchen sink pipes, the drainage system of your house, and your bathroom pipes and taps. Since this task is tedious and you cannot do it all by yourself, you might need the help of a plumber. There are many online companies from where you can choose an authentic as well as a professional emergency plumber, but it is very essential to note the genuine reviews and the testimonials as well as the price quoted by the plumber, before you assign them any plumbing task. Since most online plumbing companies promise not to collect tax from their customers, your expenditure on getting your plumbing system repaired will be minimal. Choosing A Plumbing Maintenance Company To get an experienced plumber to renovate the damaged plumbing system of your house, you need to choose a good plumbing maintenance company. When you get hold of a plumbing company online, you must research well to gain knowledge about its authenticity. You should pick a service that provides insured plumbing professionals. In case if any damage or injury is, caused due to plumbing, to a person in your household, the insurance of the plumbing specialists will cover for it. It is better to choose the plumbing services from your vicinity first, as then you will have the right track to hold the plumber responsible in case anything goes wrong. Check whether the company is offering a good and affordable package deal on the plumbing maintenance service. To get the cheapest services at your hand does not mean that you have to compromise with quality, as you can very well choose from a host of reputed plumbing agencies. Benefits of Choosing Plumbing Service From the time you call the plumbing service till the time, the plumber leaves your house, both the company executives as well as the plumbing specialists will treat you with respect. In addition to what is mentioned above, given below are the other advantages of hiring a plumbing service:The plumbers of the plumbing service company use latest technologies, methodologies, and equipment to repair a household’s drainage system, pipes, and faucets. Each plumbing professional is trained to diagnose the problem accurately so that he or she can fix the damage in the plumbing system quickly. All plumbers coming from plumbing service organizations are licensed, workers. This determines that they are authentic and will not cheat you. Understanding Plumbing Company’s Authenticity Read the details of the company on its official website and check whether it comprises of professionally trained and experienced plumbers. If the firm comprises of experienced professionals, you can rely on the fact that good and reliable service will be delivered to you. Check the ratings, given by previous users, on the services of the company. If the rating is above four stars, you can consider the company to be authentic. Read Also: 1. Installation of Kitchen Cabinets: Best Way to Give Your Home a Perfect Facelift 2. Kitchen Renovations Must be Done at Regular Intervals 3. List of Most Durable Kitchen Flooring The Internet contains countless plumbing service websites. To have a plumber come and visit your house to repair and replace leaky faucets, broken pipes, and damaged drainage system you must look for the contact of the plumbing service that you have chosen to call or email them. You do not have to register yourself with the plumbing service or pay in advance to get in touch with them. An authentic plumbing service firm will give you a prompt plumber that will diagnose the fault in your plumbing system quickly. He or she will use all necessary tools, efficiently, to renovate your plumbing system to make it as good as new again.

Why Do Some Solar Power Systems Include A Battery?

When you go to purchase a solar power system, you will find a variety of options. Some will include a battery. Others will not. The battery can either be a battery that stores the energy of the sun, one that stores the power of the wind, or a combination of the two. Lithium-Ion Batteries Lithium-ion batteries are a type of rechargeable battery that provides more storage capacity without taking up more space than lead-acid batteries. These types of batteries are useful for off-grid power stations. They have high charging and discharging efficiencies and long service life. However, lithium batteries do have their limitations. These include the potential to catch fire. Furthermore, the battery's lifespan depends on how deep it is charged. This is known as the Depth of Discharge or DoD. Most lithium solar batteries have a DoD of about 95%. While this means that the battery can be safely used for more than ninety percent of its total capacity, it also means that the battery will need to be recharged every so often. In addition, lithium-ion batteries are generally more expensive than lead-acid batteries. Depending on how many batteries you want to purchase, it can cost from $5,000 to $15,000. To make up for the higher cost, there are federal tax credits available. Compared to lead-acid batteries, lithium-ion solar batteries have a longer lifetime. Lead-acid batteries have a short lifespan, usually around five years. On the other hand, lithium batteries can last for twenty years or more. A properly installed lithium ion solar battery will have a very low risk of thermal runaway. The round-trip efficiency is another characteristic of a lithium-ion battery. It is the difference between how much energy is used to charge the battery and how much is left when the battery is fully charged. Generally, lithium batteries have a round-trip efficiency of between 90 and 95 percent. Some lithium solar batteries require three stages of charging. The first stage charges the battery until it is about 90 percent full. This is done by using a voltage regulator charge controller. At this point, the battery begins to drain the amperage. The second stage of charging is where the battery is charged for a short period of time until the amperage is nearly full. If you use a store charger, this will increase the discharge rate. Because of the sensitivity of the battery to temperature, it is advisable to choose a battery that is designed for cold or warm weather conditions. Lithium-ion batteries are generally more forgiving than lead-acid batteries. However, they may still need to be replaced in the future. Therefore, it is important to look for a company that has an excellent track record of customer satisfaction. Another important consideration is the warranty. Ideally, you should be able to buy the battery with a warranty that guarantees the specific capacity of the battery. The warranty should also state how many cycles and years of good performance it can provide. Choosing the right battery for your solar panel system is dependent on many factors. You will need to consider the frequency of discharging, the amount of available space, and the installation method. DC Coupling DC coupling in solar power systems is the process by which electricity generated by photovoltaic panels is routed directly into the batteries of an energy storage system. This can help reduce the overall Levelized cost of energy (LCOE) and provide increased energy independence. In addition, it eliminates the need for a second inverter or additional controls. One of the main benefits of using a DC-coupled system is that it is more efficient. With an AC-coupled system, each DC output of a PV module must be converted to AC, resulting in efficiency losses. When the dc output of the PV modules is directly tied to the battery of an Energy Storage System, it is possible to maximize the amount of solar-generated electricity fed into the grid. While an AC-coupled system can be a viable option for some applications, a DC-coupled system is preferred for most projects. The reason is simple. These systems are easier to install and operate. They are also slightly more efficient than their AC counterparts. For this reason, they are considered the best choice for new solar+ storage installations. There are a variety of factors to consider when deciding between an AC and DC-coupled solar system. The specifics of a particular project will play a big role in this decision. However, one important factor is interconnection costs. Using the same inverter to charge and discharge your battery system can decrease the cost of the installation. Also, co-locating your assets will reduce the cost of land acquisition and permit applications. Another benefit of adding a battery bank to your PV system is that it can allow you to take advantage of tax credits. As a result, you can end up with a completely self-sufficient home. You will be able to store excess energy for use during periods of inclement weather or in the evening when the solar panels are no longer producing. DC coupling is a promising development in the field of energy storage. It is a newer system architecture that can increase the efficiency of an Energy Storage System. Unlike the AC counterpart, a DC-coupled system has direct current wiring. This allows for faster, simpler installation. Furthermore, the systems can be expanded. Inverters used in DC-coupled systems are usually smaller than those used in AC-coupled systems. Because of this, DC-coupled systems may be more suitable for residential or small commercial applications. Those that are more than 6kW will require multiple strings of solar panels. If you need more than a few kilowatts of energy, you will need to invest in MPPT solar charge controllers. As more utilities and solar developers begin to develop DC-coupled solar+storage solutions, the industry is expected to become more mainstream. The technology has the potential to lower the cost of implementing solar+ storage projects and will make the energy storage market more competitive. Hybrid Systems Hybrid solar power systems offer a number of benefits over traditional solar systems. One of the biggest advantages is the ability to store energy in your own home. This is especially beneficial when the weather is cloudy or when the sun isn't shining. Hybrid power systems can work alone, but they also work when connected to the grid. They allow you to store extra electricity in your battery and then return it to the grid at peak hours for high-value credits. The most efficient hybrid system will use a basic inverter that controls the flow of power into the battery. Another major benefit of a hybrid system is its capability to store and provide power in case of an outage. While a traditional grid system does not have the battery backup capacity to keep your lights and appliances running during a power outage, a hybrid power system can do just that. There are a number of components that go into making a hybrid system. These include batteries, an inverter, a combiner box, and a solar panel. Each of these items can be used to improve the efficiency of your system, which translates into lower costs and a longer lifespan. A hybrid solar system is especially appealing to consumers in areas that are prone to losing power for long periods of time. These systems can be a great way to cut down on your energy costs and help protect your house from future rate hikes. Also, a hybrid power system can be more environmentally friendly than a system fueled by fossil fuels. Most hybrid systems will use lithium-ion batteries as the main source of energy. Lithium-ion batteries are capable of holding more energy and have more capacities than lead-acid or other types of batteries. While a hybrid system may be a bit more expensive than a purely on-grid system, it is still much cheaper than an off-grid system. In addition, some utilities do not have retail rates for solar electricity. Even with a small solar array, you can save up to two-thirds of your electric bill. Another big advantage of a hybrid system is the fact that you will get credit for the amount of electricity you produce. Some utilities have net metering policies, which allow you to buy back excess energy from the grid for a higher rate than you pay for the actual electricity. Depending on your area, you may be eligible for a federal rebate. For example, the Federal Investment Tax Credit is available through 2022, which will allow you to reduce the cost of your solar power installation by up to 30%. Moreover, in 2022 or 2023, the federal tax credit for solar power projects will be extended, which will further decrease the price of a hybrid system. Read Also: Is Energy A Good Career Path? – A Detailed Guide Best Paying Jobs In Energy Everything You Need To Know About Mobile Solar Generators

What Are Solar Incentives?

1. Solar Investment Tax Credits:

2. State Tax Credit:

3. Solar Renewable Energy Certificates (SREC):

4. Net Metering:

5. Cash rebates:

What You Should Know about Solar Energy for Schools Benefits

The Essential Factors You Need to Consider when Installing Solar Panels

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Related

How to start living off the grid

Guide To Choose an Authentic Plumber Service Company

Why Do Some Solar Power Systems Include A Battery?

What Are Solar Incentives?

1. Solar Investment Tax Credits:

2. State Tax Credit:

3. Solar Renewable Energy Certificates (SREC):

4. Net Metering:

5. Cash rebates:

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What You Should Know about Solar Energy for Schools Benefits

The Essential Factors You Need to Consider when Installing Solar Panels

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

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