Are There Solar Rebates In North Carolina?
Around 2.8% of the electricity in the US is generated from solar panel power. Enough solar panels were installed in 2022 to power 22 million US homes. If you live in North Carolina, you may be considering solar panels. This is a great option that is continuing to gain popularity in the United States. But you may be wondering about the solar rebates you have access to. This is important to understand since every state will have different solar rebates and incentives. Keep reading to find out if North Carolina offers solar rebates.
North Carolina Rebates for Solar Panels
Solar panel installation can be quite the initial investment. You may be anxious about paying for this if you aren’t sure it is going to be worth it. The good news for NC homeowners is that there are solar rebates available. NC homeowners with residential solar panels don’t have to worry about property value. One of the selling points of solar panels is that they help with your property value. If this is true, it can raise your state property tax. North Carolina does not do this as it offers property tax exemption.
Another thing to consider is building permit rebates. Those who live in Asheville, North Carolina, will get a rebate on their building permit. When installing solar panels, this is something you can use to help with the cost. This applies to both residential and commercial solar panels. You also need to make sure you get credit for the power your system generates. NC has a net metering policy where you are credited for extra power their system creates. You can then use those credits when your system isn’t generating adequate power.
North Carolina Solar Panel Incetives
Those who live in North Carolina have plenty of access to incentives. This is a great place to install solar panels since these incentives will add up. A legislation in NC offers low-interest loans for solar panels. This includes other energy updates to a home that is trying to be more efficient. Solar loan terms in North Carolina are not able to be any longer than 20 years. They also have an interest rate of 8%. Another benefit to these solar panel loans is that they can easily be renewed. These are significant benefits that come with this legislation.
There are also plenty of federal solar incentives. These are incentives that apply to every state in the US on a federal level. One example of this is the investment tax credit. It is also called the residential clean energy credit for residential solar systems. This allows you to reduce the cost of your system by 30%. Although, this only applies to homeowners that purchase solar panels with cash or a solar loan. You also have to be making enough income to qualify for this tax credit.
Solar Panels Benefits in North Carolina
Now that you know about solar rebates in North Carolina, what are the benefits of panels? After all, you don’t want to make the investment in solar panels if they aren’t worth it. Even with rebates and incentives, this is still an investment in your home. If you are looking for affordable solar panel installation, please peek around here at Blue Raven Solar.
Cheaper Energy Bills
One of the biggest benefits of solar panels is the savings you get. Yes, purchasing and installing them is a huge investment, but it will pay off over time. This happens as your monthly utility bills get lower and lower. Your electricity consumption will be different, and your energy bill will not be as high. That is why solar panels are considered to be a return investment. You pay upfront for them, but over the years, the savings will start to pay you back. It is worth mentioning that solar panels are also very easy to maintain. They last a very long time and do not require regular maintenance to stay in good shape. All you really need to do is make sure debris does not collect on the panels. This can end up blocking the sunlight and reducing the energy you get.
Better Home Value
We have already mentioned that solar panels can help to increase your home value. This is because homeowners are already looking for homes with this feature. They are much more likely to buy a home that already has these installed. It saves them from committing time and money to installing them themselves. It also means that they will be able to take advantage of cheaper energy bills as well.
The main reason why solar panels are so popular is that they are environmentally friendly. Solar panels run off of direct sunlight, creating their own energy. This means that they do not have to run off of fuel to create energy. Most homes run off fossil fuels or water to create electricity. Solar panels also create less air pollution. This is something that directly impacts humans and animals as well as the rest of the environment.
Solar Rebates: North Carolina
If you live in North Carolina, you may be interested in getting solar panels. The good news for North Carolina homeowners is that there are plenty of tax credits and solar rebates available. You can take advantage of these incentives to save money when installing solar power. Did you enjoy this article on solar panels for North Carolina homes? Keep reading for more useful information.