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What Are the Cost Benefits of Solar Power for Your Home?

What Are the Cost Benefits of Solar Power for Your Home?

As the cost of electricity continues to rise, Texas property owners are slowly turning to solar energy as an alternative source of power. Luckily, solar power has proved to be reliable, safe. And more cost-effective than the traditional sources of energy.

If you own a home or commercial property in Texas, you should also consider switching to solar power. Here, we will discuss the cost benefits of home solar in Texas.

Low Utility Bills

Due to the high cost of producing the traditional forms of power, local utility bills have continued to rise. Unfortunately, this trend is expected to continue for the foreseeable future. Switching off your lights and home appliances all the time won’t make any significant difference. But with a solar power system in your home, you can reduce your overall utility bills because solar energy is completely free. Since Texas is generally sunny, you will be able to produce large amounts of solar power that are enough to power all your home appliances, including your HVAC system. That way, you will be able to save hundreds of dollars every month.

Eliminate High Time-of-Use Rates

When you are connected to the power grid, your local electricity company will charge you at a higher rate for running your appliances during peak hours. This is commonly referred to as the time-of-use (TOU) rate. These charges cause your monthly electricity bills to rise steeply. But a solar power system helps you get rid of these TOU rates, allowing you to run your appliances whenever you want. This also means that if you use solar energy to power your home appliances, you will be paying less at the end of the month.

Net Energy Metering Opportunities

With Net Energy Metering (NEM), you will be able to sell the excess power you have generated back to the grid and earn some money. However, since this policy is not applicable in all states, it is important to talk to your local electricity company to find out if they have such an arrangement.

Federal and State Incentives

At the moment, you can get a 30 percent tax refund from the Internal Revenue Service for installing a solar power system in your home. Furthermore, some local and state governments offer tax exemptions to property owners who have installed solar systems. You can also reduce your total cost of installing a solar power system through various cash rebates. Indeed, a home solar in Texas will help you to cut down your expenses significantly.

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