When most people think about solar panels, they think of it as a luxury that only those with six to seven-figure incomes can afford. Truth is, you can find affordable solar panels without looking too hard.
Years ago solar panels were more of a luxury. Now. people looking for cleaner energy sources no longer have to take a home equity line out or pay a high amount of cash upfront. Owning a solar panel is now easier and more affordable than ever!
Following are the top four reasons why anyone and any business can (and should!) install solar panels:
1. IMPROVED TECHNOLOGY
Researchers are constantly looking for ways to increase the efficiency of solar PV array systems. PV arrays consist of hundreds of solar cells that convert the sun’s rays into greener energy that powers homes and offices. By making advances in areas such as solar cell manufacturing and energy storage, scientists have been able to make owning solar panels much more cost-effective.
2. PRICE REDUCTION
Solar PV has been proven to be a cheaper energy source, which means less expensive solar panels! Solar PV has been driving down costs of traditional energy drastically, with one study finding that solar module costs have gone down by a massive 99% in the past 40 years.
3. FLEXIBLE FINANCING
Currently, with Sun Badger Solar, you can enroll in a solar financing program and get your solar panels with zero money down and no payments for up to 18 months. Doing so will give you time to receive the generous Federal Tax Credit and other incentives that come with owning solar panels, which can cover up to 70% of your total cost!
4. FEDERAL AND STATE TAX INCENTIVES
Buying solar panels entitles you to some great renewable energy incentives if you’re a resident of Wisconsin, Minnesota, or Illinois. You can receive a 30% Federal Tax Credit and up to 100% bonus depreciation in your first year. By applying these savings to your balance, you can easily pay off your solar panel system in less than ten years! Learn more about the specific solar incentives, rebates and tax credits for homes and businesses in these three states.
If you can afford to pay your electric bill, you can afford to switch to solar power. Contact us today for a free solar consultation, the first step in going electricity-free!