Net Metering

You’ve probably heard from your neighbor or someone else that you could save money with solar. We are here to tell you that it is true – making the switch to eco-friendly solar energy can save you money. It will help you reduce utility bills and provide you substantial tax incentives. However, we aren’t here to talk about those topics – but to cover the concept of net metering. We will discuss what net metering is, how it works, and where this is actually an option.

there are many ways to save money, including with solar energy
Net Metering is a great way to save money

What is Net Metering?

Net metering is often referred to as net energy metering. Net energy metering is when electric companies pay you back for the excess solar power produced by your photovoltaic system. As many know, there is an energy meter at each home. This is a way to tell how much energy a household has consumed. It also gives energy companies the accurate reading on what to charge customers. 

When your solar energy system happens to produce more electricity than needed, this power can be filtered back to the electric company. The meter would then be able to read the change, resulting in a payment from the utility company. Net metering is essentially the net of energy consumed and produced at a household. If solar produces more, then the homeowner gets paid!

This is one of the various benefits of making the switch to solar power. You can even get paid to do it through net metering programs offered nearby.

Get paid to go solar

Where is Net Metering an Option?

Many places allow for this service. There are several states in the U.S. that allow net metering, meaning there are areas where it is even more worth it to invest in solar energy. Additionally, there are also requirements that may need to be met, but the following states currently allow net metering:

  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Maine
  • Maryland
  • Minnesota
  • Nevada
  • New Jersey
  • New York
  • Oregon
  • Pennsylvania
  • Rhode Island
  • Utah
  • Washington
  • West Virginia

Check with local solar energy providers about your eligibility for net metering. It is definitely an opportunity to take advantage of if applicable to you and your home.  

Can I actually Save Money?
Yes, you can save and make money by going solar. In regards to net metering, utility companies often pay homeowners the retail rate of the energy. This means that they will buy it back at the price you paid for it! Sometimes, this is even increased to cover generation fees and other related costs. Give us a call today to learn more.

Renewable energy offers tax incentives
Prospero Energy Solar Logo with a sunset over the mountains

What are the Tax Benefits of Going Solar?

So, you’ve maybe heard that going solar could help provide some tax relief or offer incentives that could be enticing to American tax payers. It can be fairly confusing to understand whether or not solar installation is a liable investment. We admit that it may not be worth it for everyone, but it sure helps to identify the pros and cons of both sides. In this article we further discuss the possible savings on taxes as a result of going solar. 

First, let’s understand what a tax credit is…

A Tax Credit is basically a dollar amount reduction in the taxes you owe. For example, if you owe the IRS $500 in taxes then a tax credit of $300 would decrease your owed taxes to $200. The Federal Solar Tax Credit is a credit that can be claimed on federal taxes for a percentage of the cost of a photovoltaic system paid by the certain tax payer. The installation of the system must be completed in the corresponding tax year. 

From now until 2032, Congress has approved a 30% tax credit for solar power systems installed. There is no limit for what can be claimed on these systems. This can definitely be an enticing option to consider when thinking about installing solar at your residence or business. 

Renewable energy offers tax incentives
There are many benefits of going solar.

Eligibility For Solar Federal Tax Credit

 
Expenses include solar panels and individual solar cells, contractor labor costs, system balancing equipment, sales tax, and energy storage devices

Solar Installation does introduce some attractive tax credits and savings that should be considered.

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Environmental Impacts of Solar Energy

Could solar really be the key to solving a crisis often talked about in political and economic circles? Have you been wondering whether or not those salesmen are marketing a hoax, or actually a beneficial product that serves generations to come? We believe that harnessing solar energy can have extremely positive impacts on our planet. Many ask what the benefits are of installing solar energy on one’s residence. At Prospero, we provide educational resources and encourage clients to research for themselves. 

Overall, studies show that the emission of greenhouse gases is harming our planet. Some of these harmful elements include carbon dioxide and methane, two things that we as humans often produce in our everyday lives. These things are emitted through the production and transportation of gasoline and fossil fuels. Gases such as these are also a primary method of electricity production in the entire world. Hence, cutting down on the production/transportation of these resources, will benefit our planet greatly. So, our answer is – yes the use of solar energy can reduce the amount of greenhouse gasses being emitted into our atmosphere.

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Solar power benefits earth and reduces greenhouse gases

 

We conclude that solar energy has the potential of reducing the amount of harmful gasses released into the atmosphere. If you are searching for solar energy companies near you, keep us in mind – at Prospero Energy, we are eager to help you help the planet. Let’s preserve earth for the generations ahead of us.

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