When it comes to investing into your home, the one thing that all of us want to accomplish is maximizing the efficiency of our dollar. One simple step forward is the consideration of solar energy. With solar power, you can begin the process of taking back the freedom of your energy usage and over your electric bills. In Missouri, between sunrise and sunset, we receive an average sunshine amount of 60%; which potentially creates and answers the question, is solar power viable in Missouri?
There are key factors to take into consideration when deciding if solar power is for you. Below are the top five considerations we have identified in order to aide your journey into the benefits of solar energy.
1. Lower Your Reliance on Electric Companies
Solar panels are more affordable and accessible than ever before. When considering your economic expenses, and when solar power costs less than grid electricity, it makes sense to begin the shift to solar energy. Electricity rates are consistently rising, even when taking into consideration the fluctuation of seasonal temperatures. Over the past decade, residential electricity rates have risen almost 15% across the nation. For some living on the coasts, electricity rates have increased almost 40% over that same 10-year span.
When considering long-term, it is more viable to invest in your home rather than investing into the electric companies already rising profits. If you choose to continue your journey to solar energy, all of the solar electricity that your solar panels produce is essentially “free” once your solar panels have paid themselves off. Meanwhile, some electric companies continue to make electricity the most expensive during times of the day that your solar panel would generate the most electricity. Additionally, with solar panels, you don’t have to wait until your solar energy system pays itself off. The federal government has implemented specific programs and tax credits in order to help those switching to solar energy see immediate returns.
2. Tax Credits, Rebates, and Programs
With tax incentives and utility rebates available, investing in a solar system allows an individual to have little-to-no financial risk. With the Federal Tax Credit, homes and businesses may qualify to receive 26% of the full cost of their solar energy system back as a credit against their total tax liability, for the year of installation. You may use this credit once, or over a 5-year span. The Federal Tax Credit will begin to decrease in 2021 to 22%. In 2022, homes with solar energy systems will no longer qualify for a Federal Tax Credit and businesses will go to a permanent 10%.
When considering utility rebates, those in the Midwest with Ameren Electric, Empire/Liberty Electric, Kansas City Power and Light, and Columbia Water and Light are eligible for a cash rebate. Most rebates are offered only for a limited time, so it is advised that once your solar energy system is installed, you reach out to your utility company as soon as possible to collect your rebate for going solar. Additional programs and savings are also available for homes and businesses that go solar. Businesses that have installed solar energy systems may depreciate 100% of their solar energy system’s equipment and recover up to 21% of the original system price. Businesses can recoup this money in the first year of purchase or choose to spread it out over several years.
Grants and loans are also available for homeowners and businesses. REAP Grants are specifically for businesses located in rural areas. They provide up to 25% of your total energy system cost along with a loan guarantee program. With a PACE loan, as a business, you can finance your energy system total cost for up to 20 years and add your repayment to your yearly property tax. This program, for your business, may also be able to pay for energy efficiency and LED lighting with a long-term, fixed-rate, loan. With the solar credits, rebates, and loan programs available in Missouri, you are not financially alone when considering the switch to solar energy.
3. No Electric Bill Necessary
In fact, with the cost-effective savings you will see with solar energy, you could pay off your mortgage and your solar panels in order to achieve total financial freedom. There is no patience required when it comes to solar energy; you begin to see the benefits right away. As touched on above, solar energy systems pay for themselves, and then some, beginning a few years after initial investment.
Utility rate inflation gives incentive to solar power. Solar energy system owners have locked in energy costs at a constant rate, no longer having to consider the fluctuating utility rates that continue to rise yearly. Whether business or home, your investment cost is up-front, and no longer will your energy bill be tied to a company’s profit. With solar energy you are not limited to the source of your energy, either, as solar panels today can be placed in multiple locations.
4. Solar Panels Don’t Have To Go On Roofs
In the Midwest, specifically Missouri, many people live on larger plots of land that have the capability to host solar panels in a number of spots. When many think solar panels, they think of panels lining the rooftop of their home or business, when in reality, solar photovoltaic panels can be installed on the roof, on the ground, or on a solar canopy. Likewise, solar panels can actually be installed practically anywhere that receives direct sunshine for the majority of the day and is not shaded by trees or buildings. Solar panels that face south will produce the most electricity for any home or business, but it isn’t necessary, panels may also face east or west and create more than sufficient energy.
For those that have large plots of farmland, solar panels on barns may be an efficient option. If no structure, other than a home or business, is available, solar energy systems can also be installed in fields, sheds, carports, etc. Virtually anywhere that is lit by the sun and is spacious. Furthermore, there are off-grid solar energy system options available, as well as the newer Tesla Powerwall Battery Storage system. A Tesla Powerwall allows for the storage of excess energy that is produced by your solar panels and allows for powering your home during a grid outage.
A battery storage device developed for the home, the Tesla Powerwall is a product of Tesla Energy. It is dependent on the homeowner’s specific needs and goals and creates the opportunity to power your home at night with stored solar energy that was created during the day. Through the Tesla application on any smart device, you can monitor your home battery and current solar production, as well as change your home’s power flow if necessary. Tesla Powerwall’s, because of their advanced smart features, must be connected to the internet to be used.
Investing in a solar energy system will already reduce your electric cost, but investing in a Tesla Powerwall can reduce the amount you spend on electricity and also ensure that you never go without power. The Federal Tax Credit is also available with installation of a Tesla Powerwall, and Sun Solar, Missouri’s #1 Solar Installer, is a Tesla Powerwall Certified Installer; able to both sell and install your Tesla Powerwall.
A solar energy system is the first step in efficiency and financial freedom, and with additional steps like the Powerwall, your energy efficiency has limitless potential. But besides lowering your monthly bill, what additional benefits does solar energy provide?
5. Lowering Pollution to Help Preserve Missouri’s Beauty
Sun Solar has long been committed to caring for our planet and all who inhabit it. Not only is solar energy itself a renewable, sustainable, and clean energy source, but also it creates an environment where fewer natural resources are being consumed. Long-term, your finances as a business or homeowner will be positively impacted, short-term; the benefits of a solar panel system impact our environment right away.
Installation of solar panel systems prevents additional coal from being burned, and railcars from being used for coal transportation. They prevent more Co2 from being released into the atmosphere, and solar energy systems prevent water from being consumed for energy. Beginning your journey to solar energy also reduces the amount of natural gas that is being extracted from our planet and reduces pollutants being released into the air; some of which is directly related to the electricity production and fuel transportation industry.
To sum it up, Sun Solar being Missouri’s #1 solar installer means multiple things. It means that not only are we the leading experts on your solar installations, but that we also strive to create energy efficiency for all homes and businesses. Solar energy lowers your total reliance on electric companies, who continue to raise rates without cause, it creates tax benefits and allows rebate and loan programs dedicated to your financial security, it gives allowances to help you plan a home without planning for an additional electric bill, and it gives back to this planet and the environment that we all depend on.
When considering the journey, and ultimate switch, to solar energy, consider investing in your home, business, and family. To find out how much you could save, try out our solar savings calculator.