Get Solar for Your Home Save Money and the Planet

I have to tell you that I have been thinking about getting solar power for a while, as my electric bill continued to rise, but my finances were not. I wasn't using more electricity, it was just getting more and more expensive. If anything I was using less and less trying to save money, but still it wasn't enough. It literally took me a year to make my final decision as to which company I would choose. My concerns were possible damage to my roof, and I didn't want solar panels that were going to be duds. I have to say that I am extremely happy by the savings, with my contribution in helping to counter global warming, not to mention the New York and Federal tax incentives for purchasing the solar panels.

First, I suggest that prior to selecting a solar company that you do your research. Look for articles that are not sponsored on the best solar companies servicing New York City (look for an article from a reputable source). Don't just go with the person that knocks on your door. Do some shopping around. Ask the sales agents, if you have a problem down the road with the panels, a week, a year or years after they are installed, do they provide support as part of the contract? See it in writing.

From my research there were three ways for you to purchase solar panels.

1. You can purchase the panels outright.

2. You can lease the panels (you basically rent the panels from the company), and pay a monthly fee.

3. You can get financing for the panels. (you get a lender and you pay back the lender - basically a mortgage), and pay a monthly mortgage payment.

The method I selected was financing because that worked best for me. My electric bills were approximately $137 per month, my financing bill for the panels is $104, and my electric bill is approximately $25, a total of $129 (which is still less than what I was paying). If I pay off the financing bill by adding more to it each month or in a lump, I will then only be paying $25 per month for the electricity. FYI - the cost of the financing will vary depending on how many panels you will need for your home. The number of panels is calculated by the sales agent based on your current usage plus your predicted usage in the event you want to get an electric car or add a washer/dryer.

The federal tax incentive allows you to get up to 30% of eligible costs for purchase of the panels. Here is a link to an article by the Dept. of Energy explaining the tax credit https://www.energy.gov/eere/so... Here is also a link to the Federal Tax form you will need to file https://www.irs.gov/forms-pubs...

Also, you will be receiving a tax credit from New York State that allows 25% of eligible costs for purchase of the panels and is limited to $5000. Here is the link from New York State Taxation and Finance explaining the solar energy tax credit https://www.tax.ny.gov/pit/cre.... The company I selected filed this form for me.

I also have cool app on my phone that tells me exactly how much energy I am using.

My recommendation is to take the plunge, get your panels, start saving money and the planet!