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There comes a time in every homeowner's life when improvements need to be made to their home, most of which are purely aesthetic and/or functional. While this may add to the overall value, improvements that cut home costs and qualify for tax benefits are difficult to come by. Going solar is one way to add value to your home and decrease overall expenses while helping the environment!
Going solar is one way to utilize tax benefits and energy savings while creating added value to your home. Both Solar Water Heating (SWH) systems and Rooftop Solar Photovoltaic (PV) systems are wise investments that include upfront savings and also provide yearly measurable returns.
Solar water heating systems are the most common form of home solar integration. They are eligible for both state and federal tax benefits; combined with Hawaii Energy's instant rebate for SWH systems, homeowners may save up to 60% of total costs! The net cost of a solar water heating system is minimal compared to the long-term savings. By installing one, you could save up to 40% on your electricity bill. For a family of four, this could easily amount to over $800 in savings per year!
A Rooftop Solar PV system may be a significant investment towards home improvements but is definitely well worth it. Rooftop Solar PV systems are eligible for both state and federal tax credits, totaling up to 65% in combined savings! Installing solar battery storage will optimize your rooftop solar PV system and will also qualify for federal tax benefits. Attractive tax benefits such as these are not always going to be around. As the greener style of living becomes the norm benefits such as these will start to decrease. Even if you have an existing system, inquire about ways to increase your capacity. There are still options for those whose systems are no longer sized for their current needs!
Tax credits and rebate programs help to create energy-efficient home improvements which are advantages that all home-owners should make use of. Highly incentivized improvements such as these are hard to come by and will decrease as the greener style of living becomes the norm. Alternate Energy Inc.'s financing options make taking advantage of the abundant solar energy in Hawaii easier than ever!
If you have any questions about solar water heating systems, rooftop solar PV systems, HECo's solar programs, our financing options, or would like to receive a free quote, leave your information below!