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The cost of electricity could rise a staggering 110% over 20 years. Your bill today would more than double, assuming inflation continues to rise at 3.97%. Which it has over the past 49 years. Wouldn’t it be nice if you could lock in your bill today for the next 20 years? You certainly can with solar. Not to mention, there are is a generous tax credit you can take advantage of which will help reduce the cost of going solar by 26% in 2020.
Increase Your Property
Value With Solar
Top 4 Reasons to Go Solar NOW!
Eliminate Rising Electric Bills
Let’s face it, your electric bills will continue to rise even if you consume the same amount of electricity each year, over the next 20 years. According to the U.S. Bureau of Labor Statistics, the inflation for electricity grew 2.73% per year.
Investment Tax Credit (ITC)
The federal government offers a tax credit towards the purchase and ownership of a solar system. From year 2017, the government has been offering a tax credit of 30%! However, the 30% tax credit offered will not offered indefinitely.
Increase Your Property Value
The addition of a solar system adds yet another layer of wealth. According to Zillow, the average home in the US saw a 4.1% increase in property value. The median price of homes in the US market at the end of August 31st, 2019 was $237,000.
Better for the Environment
As mentioned earlier, residential homes account for 39% of carbon emissions in the United States. The way this happens is through direct usage of electrical energy in the home. The two largest components are heating and cooling.