Federal Tax Credit:
The federal tax credit allows homeowners to take 30% of the cost of their solar electric system directly off the amount of taxes they owe. This is a credit directly off your taxes, not a deduction, which would have less value. Of course, you can only use the tax credit if you pay taxes, so if you have no taxable income it may not be of benefit to you. Only the owner of the system can use the tax credit.
Ameren Missouri is among the Nation’s Most Progressive Utilities
Microgrid salutes Missouri’s largest utility company for its progressive policies on renewable energy. The solar rebates offered to homeowners, businesses and institutions by Ameren Missouri is helping Missouri add clean, sustainable solar electricity to its mix of electrical generation sources.
Solar electric systems are often valued by the number of kilowatts of installed power. One kilowatt of installed power takes about one hundred square feet of roof space. The investment required per kilowatt varies depending on many factors, including the difficulty of installation and quality of the solar equipment used. Microgrid insists on using the best equipment available to assure optimum long-term performance for its customers.
Most of our customers are taking advantage of the federal tax credit is that 30% of their solar installation is paid for by Uncle Sam. This is a great opportunity to limit the cash investment required for a money saving solar system.
Some homeowners choose to finance the part of the purchase price that the incentives do not cover.
Getting an Estimate for Home Solar
The best way to begin exploring the solar options for your home is to speak with one of our analysts over the phone.
The important thing to keep in mind is that solar is a great long-term investment! It will be producing renewable energy for many, many years after your investment is returned.
Until recently, the number of US homes with solar was too small to tell what impact installed solar has had on home resales. Now there are enough homes with solar to see a distinct pattern.
Solar homes appreciated 20% more, and sold 17% faster than non-solar homes
In a comprehensive study analyzing real estate and solar, the National Renewable Energy Laboratory in Golden, Colorado, recently found that homes with solar appreciated 20% more and sold 17% faster than non-solar homes. NREL did exhaustive interviews with home buyers and found that if available homes already had solar installed, buyers were more likely to purchase a solar home.
Source: Technical Report NREL/TP-550-38304-01
Installed solar power adds $5.50 per watt to the resale value of homes:
In a recent study, the Department of Energy’s Lawrence Berkeley National Laboratory in Berkeley, California, found that installed solar increased home resale value. The average increase in value was about the same as the cost of the solar electric system. The authors calculated that, on average, photovoltaic systems add about $5.50 per watt to a home’s resale value. In California, the average solar electric system is approximately 3.1 kilowatts. So the owner of an average sized system in California stands to make an extra $17,000 above the cost of a comparable, non-solar home.
“We find compelling evidence that solar PV systems in California have boosted home sales prices,” says the lead author Ben Hoen, a researcher at the Berkeley Lab. “These average sales price premiums appear to be comparable with the average investment that homeowners have made to install PV systems in California, and of course homeowners also benefit from energy bill savings after PV system installation and prior to home sale.”