As you're preparing to slash your power bills and exercise your energy independence, keep a few things in mind during the project planning phase.
If you don't understand energy incentives, for example, then you might miss out on a huge opportunity to save big money! Don't miss out on any solar incentives in your area.
What Are You Eligible For?
Whether you choose to install your own solar power system or delegate the project to a professional, the federal government offers a tax credit of 30 percent of installation costs.
Aside from this incentive, however, virtually hundreds of local, state and utility company programs are available to help you recoup some or all of your system's costs. You can find everything from low-interest loans to grants that will pay you for putting in the panels yourself.
Great news, right? But how do you find these incentives?
Search the DSIRE Site
DSIRE stands for the Database of State Incentives for Renewable Energy.
This is the place to find an up-to-date list of all the incentives available for adopting alternative energy. In planning your PV solar system, this site will be invaluable to you, not only for incentive information, but information on local statutes and governing laws as well.
Bear in mind that sometimes the amount budgeted for state incentives may run out. Fortunately, the DSIRE site can help you to get on a waiting list or get information about when the incentive will be re-funded.
Beware of Red Tape
Most state programs and other solar incentives don't have too much red tape to navigate, but some states do place certain limitations on the installation process. They may, for example, require you have the system inspected by a state-approved contractor before you will be eligible for the incentive.
Also, read the fine print about financing your system. In most cases, a leased system is not eligible for some incentives. You can certainly finance your equipment if you prefer, just as long as you own it.
Remember the Value of Installation
One last word about system cost, before you apply for your incentives. If you're doing a DIY solar kit installation, remember that the installation portion of the system has value.
The federal tax credit, for example, is calculated based on the total cost of the system, including installation. So, even if you were the installer, that work adds to your total cost.
Contact solar installation contractors in your area and ask for a ballpark figure of what professional installation would cost. Bear in mind that contractors have profit and overhead in their costs, so add only about half the professional cost to your equipment price to obtain your total value.
If you're finally ready to achieve true energy independence and generate your own free power using the sun's energy, a do-it-yourself PV system may be the way to go. You'll save big money while still enjoying all the advantages of alternative energy. Check out a DIY solar equipment source online or in your area to learn more.
By Jen Stott
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