Here’s How Solar Power Helps Homeowners Achieve Financial StabilityJune 2, 2020
COVID-19 has thrust countless businesses, families, and homeowners into a period of uncertainty. Anxieties over foundational aspects of life such as job security, finances, and physical health have left people around the world in exceptionally unique and challenging situations.
But look thoughtfully enough into any dark cloud and a silver lining emerges.
For homeowners, the silver lining of COVID-19 comes in the form of painful lessons learned. While many of us continue to fight these uphill battles against the coronavirus, we’re learning about how we can reduce our vulnerability to uncertainty, and how we can take immediate action to improve the stability of our lives.
In addition to the devastating physical health concerns posed by COVID-19, the virus has done serious financial damage to individuals, families, and communities around the globe. As a result, homeowners are now forced to wonder how long their savings can last in a worst-case-scenario while simultaneously brainstorming ideas on how to cut costs. Fortunately, a solution has emerged that more and more homeowners are beginning to embrace in their quest for long-term financial stability and consistency; homeowners are going solar.
Reduce Or Eliminate Monthly Electric Bills
The average electric bill in America is well over $100 per month. This means homeowners are paying in excess of $1,000 (closer to $1,400, actually) per year on energy. No matter what range a homeowner’s income falls within, this inflated monthly bill and exorbitant yearly expense is one people everywhere would be better off without. We’ll leave it to the reader’s imagination to fantasize about all the different ways in which $1,000 per year could be spent elsewhere. And while eliminating a recurring monthly bill of over $100 while not suffering any negative consequences may feel like a fairytale to some, millions of homeowners across the country are already living that cost-effective reality.
Eliminating energy bills can without question make homeowners more prepared and more equipped to handle unexpected financial hardships. In fact, according to Energy Sage, “20-year electricity savings from solar can be significant, ranging from the low end of $10k to almost $30k.” Reduce your exposure to financial risk, and save money while doing it.
Tax Credits and Rebates
The Penny Hoarder, a personal financial website, explains that, “One of the biggest advantages of installing residential solar panels is a 30% federal tax credit on the total cost of a system. That means homeowners — but not renters — can subtract the credit from the federal income taxes they owe, in effect reducing the price of their solar purchase by nearly one-third.”
In addition to the federal tax credit, Massachusetts offers numerous incentives for going solar, including the residential renewable energy income tax credit which provides up to $1,000 of credit towards your state income tax. As if eliminating energy bills wasn’t tantalizing enough, states across the country are practically begging homeowners to transfer to the renewable energy source, in large part due to solar energy’s positive environmental impact.
Visit our website to learn more about tax credits, payment options and more relevant financial information for Massachusetts residents.
A staple of the solar power industry is long-term warranties that are meant to ensure homeowners are covered if anything should malfunction within their system. Typically, solar power providers will offer warranties that range from 10 to 25 years. At Sunpower by Blusel, offering the highest quality warranties possible to our customers is engrained within our company culture, and part of our mission to help homeowners achieve energy autonomy.
If you experience any issues within 25 years of purchasing your SunPower system, we will send a certified installation contractor to resolve the issue. We stand behind both our product and our workmanship. Since we are locally-owned and operated, we are nearby to answer questions, and since we’re you’re neighbors, we don’t quit until the job is done right.
Lessons From COVID-19
The current state of the world has highlighted the vulnerability of our personal, professional and financial lives. And while this reality can be unsettling, it also gives us the opportunity to make changes that will benefit us in the future. If you’re ready to achieve financial and energy stability, then it’s time to go solar with a company you can rely on.
You’ll be glad you did.