About

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Solar power is a 100% clean, renewable energy source. It reduces reliance on oil, coal and natural gas for electricity production. These fossil fuels produce harmful emissions that affect the quality of air, water and soil, and are responsible for global warming. It’s estimated that between 2000 and 2065, the Earth will lose more species of plants and animals to extinction than in the previous 65 million years combined. That’s a staggering statistic and one driven significantly by the effects of greenhouse gases from fossil fuels. 

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The cost of solar has dropped dramatically in recent years, falling more than 70% in just the last decade. You’ll save money on maintenance too, since there are no moving parts to break down. In addition, the cost of home solar batteries have dropped substantially as well. The benchmark levelized cost of electricity (LCOE) for lithium-ion batteries has fallen 35% to $187 per megawatt-hour since the first half of 2018, according to research company BloombergNEF (BNEF). 

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Another factor in the increasing affordability of solar panels is the availability of federal, state and local tax breaks. For example, the federal solar tax credit gives you a dollar-for-dollar deduction against your federal income tax. Currently, the residential federal solar tax credit gives you a dollar-for-dollar deduction against your federal income tax equal to 30% of the final cost of solar energy systems you install on your home.

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In addition, purchased residential solar panels can improve the resale value of your home. According to Zillow Economic research, homes with solar-energy systems sold for 4.1% more on average than comparable homes without solar power. For the median-valued home, that translates to an additional $9,274.