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9:18 a.m. PDT, July 7, 2011
It may just be the biggest no-brainer of all time. Installing solar panels on your home not only is free these days, it’ll save you quite a bit over the next couple of decades.
A 30% tax credit, courtesy of the Federal Government, and a state-wide rebate together are allowing homeowners a chance of a life time.
“Right now to get solar they spend zero dollars,” boasted Kirk Hammersmith, a solar consultant with Paramount Energy Solutions.
No wonder the state saw a 47% increase in residential solar in 2010 from the previous year.
“We are able to reassign the tax credit along with the rebate and give those to the customers immediately,” acknowledged Hammersmith. “There is no property value requirements, no income requirements, they only have to have decent credit.”
For example, a customer who pays $195 per month for his energy bill can instead put zero down, have the panels professionally installed, then pay only $110 per month over a 20-year lease. His energy bill will be reduced to $79 which means he is saving $6 per month. Not a huge savings, but spread out over the length of the lease, taking into consideration the rising cost of energy, and the total savings is close to $10,000.
If you really want a return on your investment you can put some money down first which lowers a homeowners monthly lease payment and greatly increases the amount saved at the end of the 20 years. “We can’t make this stuff up,” commented Hammersmith. “There is no better time to do this than right now.”
via: Fox40 News