Homeowners across the globe are researching going solar for their energy and electricity needs. There is a plethora of information to consider if you’re thinking about converting your home to solar energy power. The initial costs, long-term savings, and monthly expenses are just a few of the items that customers need to understand before they finalize their plans. HFS Financial understands that going solar is an investment that pays off in the long-run, and we are here to help you find the financing you need to make it happen. Here are 4 reasons going solar is a great idea.
Going Solar Helps the Environment
Choosing to convert your home to solar energy is beneficial in many ways. Obviously, the first thing you are doing is helping the planet itself. Solar energy is not harmful to the environment because there is no more need for an outside source of power. The sun does all of the work to generate the energy that your home needs for your comfort and convenience.
Going Solar Helps with Expenses
Another perk of going solar is the money that you save. Unless you are on a level-billing plan for budgeting purposes, electric bills fluctuate greatly throughout the year. When you switch to solar power, you will actually anticipate the utility bill’s arrival. Here is why.
Your utility company will keep track of your solar power system, because it will be included in their power grid. The monthly bill will show you how much solar power your system produced and how much energy you used. During low usage months, you will see credits on your bill. The extra energy for which you are credited is then available to be used. If you have a month where you use more energy than your system produces, your usage will be subtracted from your credits.
Once you complete a yearly cycle, you will get a statement that balances your system’s production, usage, and any leftover credits. A net zero balance or remaining credits is the goal for power companies and homeowners alike.
Going Solar Has Extra Benefits
Your utility company can help you determine the savings that you will make as the years continue to pass. Annual savings are amazing by themselves. Knowing when your initial investment will repay itself and then continue to save you more is very satisfying as well.
One more benefit to mention is a tax credit from the federal government for customers who choose to go solar. Since January of 2020, homeowners can claim a percentage of their solar installment costs as a deduction on their taxes. This deduction can carry over to the next year if the credit is larger than your tax liability. And it’s a great time to install your solar system. In 2021, the tax credit is 26% for residential owners.
Going Solar Is Easy
Finding the funds to convert to solar power is easy when you partner with HFS Financial. We specialize in home improvement loans, whether for new pool financing or for solar panel financing. Take just 60 seconds to inquire today, and our team will get back to you quickly. You can also call us at 1-800-254-9560 to discuss your options. “You Dream It, We Finance It!” Contact us today for more information.