Plano, Texas is a city that has a lot of sunshine all year round and you may have a desire to not rely so much on energy distributed through the local utility company that is powered by oil or nuclear energy. In that case, getting solar panels for your home may work out well for you.
Here are the five things you need to know about getting solar power in Plano, Texas and installing it into your power grid.
1. You Can Get a Tax Credit
There is a 26% tax credit that is available to claim through the federal government. This means that 26% of the total cost of installing solar panels on your home will be deducted from the taxes you pay for that year. Keep in mind that the 26% will go down to 22% in 2022, so you will want to get solar power now and maximize your tax savings.
2. Plano’s City Government Encourages It
There are financial incentives out there if you decide to go solar.
Through the Smart Energy Loan Program run by Plano’s city government, you can finance a home solar power system and approved energy efficiency upgrades To get the loan, the solar power equipment must be for an owner-occupied residential property, not commercial. You also need to:
- Have current mortgage and property taxes
- Meet minimum credit and income requirements
- Possess homeowner’s insurance
BTH Bank, once you fit the requirements, will give competitive interest rates on all Smart Energy loans made by each homeowner.
3. It’ll Save You Money Long-Term
Because of the amount of sun that Plano gets year-round, you will be saving money that otherwise would have been consumed by less efficient sources of electricity like oil. For example. if you installed a 10.68 kW average-sized solar system in Plano, you could only pay five cents per kWh, as opposed to eighteen cents per kWh. In just twenty years, you could save over $16,000!
All in all, the more solar energy you use, the more you save.
4. There Are Many Solar Companies Near Plano
It may seem like solar power companies that sell solar power systems can only be available commercially or far away from towns like Plano.
On the contrary, solar companies like Blue Raven Solar are able to offer their services to homeowners. The best part about them is that they can offer homeowners financing plans should you choose to buy a system for your home.
5. You Can Calculate Whether It Works For You
How do you know how many solar panels you would need for your address? A calculator can help you out.
With a solar power calculator like PVWatts Calculator (run by the National Renewable Energy Laboratory), you can calculate how much the average annual retail electricity rate would be for your address in Plano or other areas around the country.
Install a Solar Power System in Plano Now!
As you can see, there are many benefits to using solar power in Plano, Texas. Hopefully, the information above can help you decide whether you want to install a home solar power system. Get more bang for your buck using natural energy from the sun!
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