California is one of the top states in our nation going solar and Californians are benefiting substantially from clean renewable energy by reducing their electricity bill 70-100%. Three homes in California are going solar every day and homeowners are saving the environment, reducing electricity bills, and moving our country into a sustainable future. There are two ways of going solar: leasing or purchasing. The main reasons why you and many other homeowners would choose to purchase solar system is because of the ownership benefits, solar tax credits and tremendous lifetime savings.
In general, homeowners are going solar to reduce/eliminate electricity bills, ensure power security and to gain energy independence. Don't under estimate the value in ownership of your system. When purchasing solar you (the homeowner) are the rightful owner of your solar system and the electricity it produces. That sounds nice to tell your neighbors, friends and family you own your electricity right? RIGHT! That means after the payback period, there are no more additional costs for your electricity and the solar system continues to produce well beyond the payback period. When you lease a solar system you cannot utilize the many benefits of owning the system. Benefits of owning a solar system include increased home value, eligibility for the federal tax credits and an abundance of $aving$.
Probably the biggest reason why homeowners are purchasing their solar is the eligibility for the federal tax credit, which allows you to deduct 30% of the cost the solar system from your federal taxes. On the other hand, if you choose to lease, you do not own the system therefore you cannot receive tax credits and miss out on the 30% savings. The only perceived con of purchasing solar is its upfront costs. However, there are many no money down loans and financing programs that remove that initial lump sum barrier. Keep in mind the federal tax credit is a limited time offer so it is important that you act soon before time runs out.
With the many benefits solar offers, obviously you save more by purchasing. By owning the system you get the lowest possible electricity rate with a lifetime of savings, such as a reduced power bill, which will add up to hundreds if not thousands annually. Solar is a great investment that will markedly increase your home value because now it’s not just a home, it’s a power house! A solar lease is not an investment, it’s a long term commitment to 20 years of lease payments with less savings and higher electricity rates. Make the choice of being energy independent to control the cost of your energy and reap all the benefits you can by purchasing your system with cash, loan or financing programs.
Overall purchasing a solar system is a financially beneficial lifetime investment that is simple and easy. Purchasing will grant you access to the greatest amount of savings, utilization of the ITC, and complete ownership over your power. What are you waiting for? Get your energy freedom now and rest easy! You have nothing to lose and plenty to gain because going solar is smart, effective and efficient. If you want to learn more call us today (760) 933-TIME.
Jannell is the Social Media Manager for Solteris Energy dedicated to sharing valuable content to help the community make more educated decisions. With interests spanning from renewable energy to health and wellness, Jannell spreads the word about solar, maintains her own food blog, and is active in the medical cannabis community. Follow her @jannellgarcia.