61 Percent of Americans are Unaware of Financial Incentives for Going Green
Working in the solar industry, it’s easy to assume that folks are already aware of all of the financial incentives out there to “Go Green”. We do our best to educate people, but a recent survey reveals that 61 percent of Americans are unaware of such rebates!! 50 percent of the surveyors said they had made home improvements to save energy and money, and 71 percent said they didn’t take advantage of rebates, tax holidays or other incentives according to the survey, conducted by Harris Interactive on behalf of climate technologies supplier Emerson. There are actually 2,750 policies and programs for rebates and incentives across the United States.
Financial Incentives: Getting Ready to Invest in your Renewable Energy System
If you’re planning on investing in a solar power system, the first step is always to reduce your energy consumption. And with this first step, comes the first wave of financial incentives –whether it’s insulating your house, buying energy efficient windows, or buying more efficient appliances. Your reduced power bill will also translate in to a lowered price tag on your renewable energy system, when you’re ready to buy. Not only do you get to join forces in making the planet a better place, you also stand to gain financially… And the incentives don’t stop here.
Once You Have Invested in your Renewable Energy System
Once you have invested in your Solar Power System for your home or business, you’ll be eligible for the 30% Federal Tax Credit on the cost of the equipment, plus the labor to install it. This is on top of any state incentives, local and utility company rebates (in addition to the ones mentioned above), which vary widely across the states. Some states offer personal tax credits or property tax credits for the increase value of your house, others offer up front rebates, while still others offer funding based on how much energy your system produces. Most states offer net-metering, which means if you have a residential solar power system, your utility power will pay you for any excess power you generate.
So, where do you find these rebates?
The DSIREUSA.org website. This database was founded by the U.S. Department of Energy in 1995 and is managed by the North Carolina Solar Center at North Carolina State University. Database users can search for eligible incentives in their area with the site’s search tool, which allows them to filter searches by state, specific technology, type of incentive and whether the incentive is for a home, business, school or government entity.
Financial incentives could literally pay for your entire system. So what are you waiting for? Start your incentive research now.