Thursday, November 19, 2015
Does Your State Offer Tax Incentives for Solar Panel Installation?
Nationwide, the deregulation of electricity markets means that many consumers have a choice of providers for their heating and cooling needs. Although some states have not fully completed the deregulation process, many consumers stand to benefit from the ability to pick their natural gas and/or electricity providers.
Interested homeowners and renters can also save money in a variety of ways. There are currently many tax incentives designed to make the installation of solar panels an attractive option to homeowners. Not only do solar panels have the potential to save money, many electricity companies will actually purchase excess energy generated by the panels and absorb it into the larger energy grid for redistribution to other homes.
Homeowners can save hundreds every year just by the installation and use of a thermometer that can be programmed to lower the temperature at night, for example, or to turn itself to a much lower setting when owners are at work or out of the home. Savings for larger homes that consume more electricity can add up: experts say that just a few degrees' difference can save homeowners hundreds of dollars every year.
The deregulation of electricity markets also means that many consumers have more "green" options for their natural gas and electricity providers. In some areas of the country, large turbines that harness the power of the wind are responsible for generating much of the electricity that consumers use to power their homes. As the cost of generating the electricity goes down, the consumers can expect to harness those savings as well.
Consumers report that deregulated energy markets deliver them more choices, but some states have not yet completed the deregulation process. Energy suppliers in those states do not have many competitors, if any, and some consumers express a desire for a wider range of options. Deregulated energy was designed to introduce competition between energy companies, with an goal of financial savings for homeowners.
With many power suppliers increasingly finding ways to harness low-cost, sustainable energy sources such as solar and wind power, consumers across the country are gaining the power to choose sustainable energy for themselves.