FAQs about Residential Solar Power Systems
As solar energy is growing in popularity, you may be wondering if all the hype is true. If you are considering switching to solar power but still have some doubts, take a look at some of our most frequently asked questions!
Is solar energy affordable?
Most major solar companies provide financing options to best suit customers needs. The Power Purchase Agreement (PPA), Solar Leases, and Solar Loans are just a few ways homeowners can choose from in order to pay for their systems. There are also many federal and state incentives that customers can take advantage of in order to cover the price of their solar panels.
Residential solar panel installations can be a great investment for anyone looking to lower their utility bill while reducing their carbon emissions. Federal and state incentives will be decreasing at the end of 2020, making today the best time to invest in solar energy!
What are tax credits? Do I qualify?
The federal solar tax credit, also known as the investment tax credit (ITC), allows solar energy owners to deduct 26% of the cost of installing the solar system from their federal taxes. It is one of the most critical incentives for home solar power in the United States implemented by the federal government today.
The federal solar tax applies to both residential and commercial systems – every user that owns their systems, as opposed to renting them, qualifies for this deduction. This credit can be applied to personal income taxes that would otherwise be payed to the federal government.
Does solar power really help the environment?
Yes! Sunlight is the cleanest source of energy due to its natural abundance. Solar energy has virtually no environmental impact and reduces carbon emissions, ultimately improving air pollution. Solar power is also more self-sufficient than fossil fuel since it’s is generated nearly everywhere, while fossil fuels are finite resources that need to be imported from other countries.
Can I use solar energy during a power outage?
Without a battery back-up system, solar energy systems will shut down along with the rest of the electricity sources in the neighborhood. This utility regulation is for the protection of the workers fixing the power outage. Repair crews are directly working on the points of failure across the grid, so to have a local power generator such as a solar source leaking power onto the grid lines would put these linemen and women in jeopardy. Solar energy systems can detect when grid power is down, which automatically shuts the system down as a precaution.
I’m planning on moving. Is solar still worth it?
If you sell your home, you can transfer your solar agreement to the new homeowner. The process is simple and offers electricity savings, which is a great selling point when your home is on the market. The Momentum Solar Customer Experience team will walk you through the entire process, but it’s important that you contact us by email at MyInstall@momentumsolar.com or by phone at 732.902.6224 as soon as you decide to sell your home.
Our mission at Momentum Solar is to enable our customers to take control over their rising electricity costs and start generating cleaner, price-protected power. Visit our website at www.momentumsolar.com or call 1-888-MOMENTUM for more information.
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