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2022 Inflation Reduction Act and Impact on Solar Customers

Posted on November 19th, 2022 by admin@eeon

As we now understand the impact global warming can have on our planet, the race is on across the world to come up with a cleaner, more sustainable option for powering daily life. For many years there has been an increased focus on clean energy across the U.S, and in some respects, solar energy has very much led the way. The implementation of solar panels in both residential and commercial roof space has been encouraged by the American government in the form of clean energy tax credits, which has seen rooftops with both solar panels and battery equipment installed receive an amount of relief come tax season. However, with the increased pressure on all countries to adopt as many cleaner energy alternatives as possible, the Biden administration has pledged to take American efforts even further across the board.

2022 Inflation Reduction Act and Impact on Solar Customers

As we now understand the impact global warming can have on our planet, the race is on across the world to come up with a cleaner, more sustainable option for powering daily life. For many years there has been an increased focus on clean energy across the U.S, and in some respects, solar energy has very much led the way. The implementation of solar panels in both residential and commercial roof space has been encouraged by the American government in the form of clean energy tax credits, which has seen rooftops with both solar panels and battery equipment installed receive an amount of relief come tax season. However, with the increased pressure on all countries to adopt as many cleaner energy alternatives as possible, the Biden administration has pledged to take American efforts even further across the board.

What is The New Act and Why Did It Take Place

On August 16th 2022, the United States Inflation Reduction Act was made law. The largest clean energy investment in American history, this act invests a huge $369 billion in spending to reduce technology costs and barriers associated with developing and deploying renewable energy, strengthening energy resilience, and reducing emissions by 40% across the United States by 2030. But with such a large-scale aim, the potential implications for renewable energy are wide-reaching. This is a  law that sees not only current criteria being extended to further encourage but also new additions to make sure all areas of clean living is more cost effective for use in everyday life but does it go far enough and how have they specifically supported those looking to make the change to a renewable energy source for their homes in the form of solar panels. 

Initial estimates from American Clean Power have previously predicted that the new regulations could increase clean power to the U.S by 525-550 gigawatts. And create around 500,000 clean energy jobs across the United States helping to fight unemployment.

Incentivizing domestic production of clean energy within the U.S is one of the main priorities set out by the Reduction Act, and this will be encouraged by increasing the benefits available for those installing solar panels and battery equipment on their properties.

Major Changes and Caps Placed on Tax Payers When Claiming

Before this law came into place, the current solar investment tax credit of 30% was due to be reduced from 26% in 2022 to 22% in 2023 before disappearing entirely after that point. This law brings with it a new assurance that, effective immediately, it is back up to 30% for all solar projects installed from 2022 to the end of 2032. Therefore, residentially and commercially installed solar panels can reap a 30% tax benefit on installed solar and battery storage equipment. The provision will then decrease to 26% in 2033 and 22% in 2034. 

That said, if you’ve been thinking about installing a set of solar panels to your rooftop, you are likely looking at an installation date in 2023 due to the involved planning and scheduling that will be required from both the company and local government. Therefore, your household will automatically benefit from the increased percentage of tax relief come next tax season. It is also worth knowing that there is no limit on the amount that can be claimed and the majority of costs from equipment to installation and fixings can be claimed for at the end of the process. Further information can be gained by an independent advisor before you agree to the work being carried out. 

This increased incentive to install solar panels will also indirectly affect all consumers throughout the U.S. For instance, any market that experiences improved equipment, technology, and sustainable energy will be future-proof and not impacted by rising fossil fuel costs. 

Although we are still a fair way off eradicating fossil fuels from our country’s power sources entirely and still require the support of fossil fuels, this law should go much further in helping the United States. to achieve the specific target set out in the Paris Agreement (50% on greenhouse gas emissions reductions by the year 2030) while also having a positive impact on those looking to enter the solar energy market.

Solar 101: Panels, Inverters and Battery Storage

Posted on November 14th, 2022 by admin@eeon

Solar 101: Panels, Inverters and Battery Storage

For many years now we have all been aware of how much of a negative effect that we are having on our planet, always looking for another option to help make a difference in reducing our impact on the planet. One option that has become more and more popular in recent years are solar panels, but what exactly are they, and how much of a difference do they make to our use of fuels- do they reduce our carbon footprint? 

So, what exactly is solar power? Well, solar power is the process of using the sun’s energy either directly as thermal energy (heat) or through the use of photovoltaic cells in solar panels to generate electricity. Both commercial and residential rooftops can be utilized to install these panels, gathering energy throughout the daylight hours. If you are looking at the option of installing solar panel and battery systems, it can be a little confusing with different equipment and options to choose from so let’s break it down for you!

What Equipment Is Needed and Why

Firstly, if you are looking to make the most of solar energy, you will need to have solar panels fitted. With a lifespan of 25 years, installing these panels can not only help reduce the cost of household electricity but also increase the value of a home (usually working on a ratio of $20 per $1 saved on household energy costs.) 

Inverters are another piece of equipment that may come up while researching your solar panel choices, so what exactly is it? It is simply one of the most important parts of your solar panel energy system installation. The device converts direct current (DC) electricity, which is what is generated by a solar panel, to alternating current (AC) electricity, which is the current used by the electrical grid. This specific part of your system will be turned off each evening as it requires daylight/sunlight to work. 

Finally, solar panel battery storage devices will be another decision to make. Not always required; it really does depend on how you plan on using the energy you harvest through your conversion system. This device will allow energy from renewable sources, including that of solar, to be stored for release when customers need power most. Put simply, once the sun goes down, your panels cease to create energy and so by installing this piece of equipment, you will be able to store the energy that you have created during the day that hasn’t been used, for the hours without sunlight. This is a very sensible decision for most customers looking to install solar panel and battery sytems on their home, especially if they are aiming to make the largest saving on more traditional fuel costs. 

Solar Power and the Benefits You Will Experience

Harnessing the energy produced by the sun is not really something new. In fact, it was first predicted in the 15thcentury, with the first cell being created in the 19th century, but its solar efficiency was only 1% effective. These days technology has come a long way and now tends to be around 50% effective. Unlike the options of fossil fuels that have been our energy lifeline for so long, the source is completely free and renewable, meaning that once your initial costs of the equipment has been recovered, you shouldn’t really need to spend a cent more on generating your own electricity. Moreover, you will also have the benefit of drastically reducing your carbon footprint by using a sustainable energy source.Although people initially questioned its use due to not being able to continue to produce energy during the night, the development and installation of solar panel battery storage has come a long way to correct this initial dilemma. And since they’re designed to stand the test of time, not to mention the elements outside, there is little need for repair costs, unlike many other energy options currently available on the market.

5 Top Reasons to Consider Solar Panels

Posted on November 14th, 2022 by admin@eeon

5 Top Reasons to Consider Solar Panels

As technology advances, we now rely more than ever on new techniques and equipment to provide innovative solutions to combat real-world problems such as climate change. When it comes to reducing your carbon footprint, trying to undo some of the damage that has been done across our planet can seem overwhelming at first. But how can we begin to support such a large-scale problem in our own homes? Our energy use seems to be a good place to start, and as you start to consider your options, you may have been thinking to yourself, should I get solar panels? Well, read on to discover 5 reasons why solar panels are a brilliant home renovation idea. Did you know that the energy which the sun provides to the earth for one hour could meet the global energy needs for one whole year? At this point we only harness a fraction of this natural energy source however solar panels can make a significant difference to planet.

5 Benefits For Harnessing Solar Power

So what exactly are the benefits of this energy source and can they be installed on any property? We are here to answer your questions and look at the 5 top reasons to consider all things solar.

  1. Renewable Energy Source: Although there is a great deal of benefits for choosing to use solar panels as your household’s source of electricity and power, the top of the list has to be that solar is truly a renewable energy source. A choice that can be made by almost all homes, unlike some other energy sources. Don’t forget, this energy source will be available to us all as long as we have access to sunlight.
  2. Reduces Electricity Bills: If you are still asking yourself, should I get solar panels?Then one fact that can’t be argued with is the money that you will save on your electricity costs. The size of saving amount will ultimately depend on the size of the solar system that you have installed (the more solar energy that can be converted to a useful source of power, the higher economic savings that can be made.) From commercial to residential, the savings made will no doubt have a huge impact on your annual bills. Plus there are also government incentives to support homeowners thinking of switching to solar power.
  3. Diverse Applications: Not only can solar panels be used to reduce your energy bills, but they also have a wide range of additional uses. From powering homes and buildings that are ‘off-grid’ to helping provide clean water to areas with a limited supply and even powering satellites in space. There are huge possibilities that will not only directly benefit the building that the panels are installed on, but also be beneficial far beyond this.
  4. Low Maintenance Costs: Right, as technology develops and becomes a bigger and bigger part of our everyday lives, we are also increasingly aware of the costs for not only installing but maintaining the systems that we become heavily reliant on as time goes by. Well, solar panels might be the one piece of technology to buck the trend. Yes, it comes without saying that there is a cost to installing the equipment required. However, when it comes to costs attached to repairing and maintaining, the numbers are low throughout their 25-year lifespan associated with solar technology. This is due to the fact that there are limited moving parts within the systems and, therefore generally no wear and tear.
  5. Technology Development: Technology within the solar power industry is constantly improving and advancing. Scientists and engineers are working together to develop the equipment to be even more effective as they go. And with the new 2022 Inflation Reduction Act now in place and a focus on renewable energy ever more prominent, the equipment and experience for those installing solar power, is only set to get better and better.

What Are The Next Steps

So, if you have been recently asking yourself should I get solar panels? We certainly hope that this article has answered your questions and sparked your interest in an installation on your own property! If so, we urge you to get in touch today for more information on how you can help yourself and your planet by choosing renewable energy! 

5 Steps to Go Solar – Solar Panel Installation

Posted on November 14th, 2022 by admin@eeon

These days it seems that we can barely make a decision or movement without thinking about the effects our actions are having on our planet and the huge concern of global warming – and for good reason too! Traditionally our choice in energy production of fossil fuels has not only been unsustainable but also detrimental for the planet, with large amounts of carbon dioxide being released into the air. In 2022, we now have more carbon dioxide in our atmosphere than at any time in human history. And if you are concerned for the future of Planet Earth, you should be proactively looking into ways that you can reduce your carbon footprint. One of the most effective ways when it comes to reducing your reliance on fossil fuels is to switch to solar panel technology. 

5 Simple Steps – Facts & Information About Solar Panels

Here are our top tips for making sure that your choice to go solar goes without a hitch!

  1. Do Your Research: Inevitably, solar panel installation comes with not only a huge amount of information in regards to converting and storing energy, but also how the different working systems operate. And this will indeed be different to how you’re used to supplying energy to your home or place of work. Solar panel system technology is constantly being developed and so it is important that before you make the jump to this cleaner energy source, that you understand the differences and processes of solar panel systems.
  2. Trust your company: During the research phase, make sure that you choose a company that can supply you with a solar panel system that you are happy with but also that they offer support through the whole process. With ongoing help and support schemes available as well as relief during tax season, taking the time to find the right company will make a lot of difference when it comes to installation.
  3. Make sure you choose the right system for you and your roof: There are a great number of things to take into consideration when making decisions about the solar panel system you choose. The first area which needs focus is the cost of the equipment and installation. Between upfront and monthly costs, what are you financially comfortable with? Equipment- specifically solar panels and inverters- differ not only in cost but also efficiency, power, and aesthetics so make sure you choose the right equipment for your roof and budget.
  4. Install your system: So, how to install solar panels? After you have decided to go ahead with the iinstallation your chosen company should move to obtain the correct and necessary permits from your local or state government. Once these permits have been obtained, a date for work to begin can be set, and the equipment can be installed, finally connecting to your building’s electrical supply. Access to your roof and electrical panel will be required for the installation, which can usually take place within a 24 hour period
  5. Power your home, enjoy your savings: Local government will need to come and inspect the installation before you are able to power your home, to confirm all equipment is correct and up to standard, and to grant you “permission to operate.” Once this is confirmed it is time to flip the switch and enjoy the clean energy that is being produced for you moving forward. From this moment on, you will begin to reap the benefits both in terms of reducing your carbon footprint and your bank account. The best thing about this type of energy supplier is that once installed the costs are very minimal. Due to the fact that there are no moving parts, there should be a very low maintenance bill throughout the 25-year lifespan of the equipment too!

Solar Round-Up, How Can These Facts Help?

Once solar panels are installed in any home, the process is overall, simple with equipment being generally low maintenance and without a great cost to any repairs needed. By following these five short steps, a subject that can be initially overwhelming to many, can be kept quick and simple allowing you to be able to reap the benefits of a greener and more renewable energy source for many years to come and helping climate change by taking one step closer to reaching the Paris Agreement 2030.

Solar Rebate: How do Solar Rebates Work?

Posted on November 14th, 2022 by admin@eeon

Solar Rebate: How do Solar Rebates Work?

What Are Solar Rebates?

Put simply, a tax credit is a dollar-for-dollar reduction in the amount of income tax you would otherwise be charged. For example, whatever figure of $ tax credit you are entitled to claim (for various reasons) will reduce your personal tax burden each year. Although there has been an increase in tax credit percentage amount in 2022 (30%), there has previously been a tax credit percentage in place over the previous 2 years (26%) to encourage people to move to a cleaner energy source, with no maximum amount that can be claimed come tax season.

Now, like all tax breaks, the solar rebate is accessible to people who reach certain criteria, which we’ve outlined below: 

 

  • Your solar PV system was installed between January 1, 2017 and December 31, 2034.
  • The solar PV system is located at a residence of yours in the United States.
  • You purchased an interest in an off-site community solar project if the electricity generated is credited against and does not exceed your home’s electricity consumption
  • You own the solar PV system
  • The solar PV system is new or being used for the first time. The credit can only be claimed on the “original instillation’ of the solar equipment.

Expenses To Consider Relating To Solar Rebates

What expenses are included throughout the installation?

  • Solar PV panels or PV cells.
  • Contractor labor costs for onsite preparation, assembly, or original installation, including permitting fees, inspection costs, and developer fees.
  • Balance-of-system equipment, including wiring, inverters, and mounting equipment.
  • Energy Storage Devices that have a capacity of 3 kWh or greater.
  • Sales taxes on eligible expenses.

The solar panel rebate is only one of the solar incentives available to those choosing the renewable energy option to power their homes which may be different from state to state therefore how it will affect other incentives has to be taken and considered on an individual basis when researching the best options for you. 

Is There Enough Support to Convince You?

When making your decision to move to solar-produced energy, one of the many factors to take into account is how the solar incentives will affect you and therefore, it is imperative to make sure you seek independent professional tax advice to ensure you are eligible for the credit ahead of time – no one would want to find out during tax season that you’re not actually entitled to claim!

So, with all of this new help in the form of the solar panel rebate, is this enough to tip the scales in favor of renewable energy for your household? Not only will the solar rebate help with the costs of installation, but once in place, you can’t ignore the fact that your home energy costs will be significantly reduced. Not to mention that you’ll be helping to protect the planet for future generations! So make a wise and sustainable decision!

Top 3 Solar Power Myths Busted

Posted on November 14th, 2022 by admin@eeon

Top 3 Solar Power Myths Busted

We now live in a world where there is more carbon dioxide in the atmosphere than ever before, and extreme weather events have become more frequent and severe, with sea levels rising today faster than ever before. The impact modern life is having on the planet and how devastating global warming calls for us all to take accountability and find ways to prevent the issue from getting any worse. But with solar panel myths circulating online, many homeowners are still unsure whether switching to sustainable energy is a good move.

Top 3 myths busted

The idea of solar energy is not new. It was initially considered as a possibility in the 15 century, and the first cell to harvest the energy came along as early as the 19th century. Yet it only reached 1% efficacy. A lot has changed since the days of Charles Fritts, and today, solar energy is very much an efficient and sustainable way of providing energy to many homes and businesses throughout the world. But even though the history of solar power spans centuries, there are still many myths about the insufficiency of this clean energy option, and we think it is time to clear these up!

  1. Solar power only works when the sun is shining- I still need power when it is raining.
    • This has got to be one of the biggest misconceptions when it comes to solar panels. And sadly, it is often the main reason why many homeowners are yet to make the switch to sustainable power. Yes, solar panels need the sun to produce energy, but that doesn’t mean we’ll be sitting in the dark when the sun goes down. Battery storage devices can be used to save up unused solar power, which can then be used during the night. However, this is not required when the clouds roll in, and the rain comes. Clouds are not entirely opaque, so sunlight still passes through them and reaches installed solar panels. The electricity may be lower on these days than on the days without clouds, but not enough to have any drastic effect on a single household. 
  2. Solar power is too expensive to install and maintain.
    • Ok, let’s not pretend that there are no costs involved when installing solar panels. It is not a cheap process. However, due to state and federal support and commitment to a greener country by 2030, there is financial support and help in the form of tax credits available to all those who choose to install within their homes. (But please make sure you take full and independent tax advice when making any decisions built on government tax support.)
    • When it comes to the cost of maintaining the equipment once in working order, this is a very small cost to consider. The lifespan of solar panels is around 25 years, and during this time, due to the panels being made up of predominantly non-moving parts, repairs are not common. This means that general wear and tear is kept to a minimum, and so typically, solar panel systems only need to be cleaned once or twice a year.
  3. Solar panels will damage my roof and reduce my home’s worth.
    • When installing anything in any part of the home, risk of damage is present, but with insurance, this shouldn’t be a deterrent.  Damage caused by installing solar panels is a very rare occurrence and as in any situation, it seems to be speculation rather than general accounts that spread online. In response to the value of your home dropping, this again is purely a solar power myth. In fact, in general, it tends to have quite the opposite effect. On average the cost of a home seems to increase by $20 for every $1 saved on energy costs.

Clearing a Few Things Up

Hearing negative so-called “facts” against solar energy as an option to help make a more sustainable future can be very concerning, so that is why it is important to sort fact from fiction. We hope the above solar power myths are now busted for you and help you in your decision to choose solar panels for the home.

Is My House Suitable for Solar Panels?

Posted on November 14th, 2022 by admin@eeon

Is My House Suitable for Solar Panels?

In a world where the last seven years have been the warmest on record, sadly, more than one million species are at risk worldwide due to climate change. Climate change in the United States has led to the country warming by 2.6 degrees F since 1970, and so homeowners across the country are searching for new ways to lead a more sustainable and eco-friendly lifestyle. The pressure to undo what fossil fuels have done to the planet is a massive concern for Americans, and with the cost of living on the rise, solar panels are becoming one of the most popular ways of reducing a family’s carbon footprint.

Installing solar panels can be a way of dealing with both of these issues in the home, and so you may be wondering, “Should I get solar panels?” With so many myths and untrue facts doing the rounds online, here’s what you should know when it comes to confirming if your house is suitable for solar panel installation. 

When looking to make the solar power jump, there are a few factors to consider to make sure it is the right decision for your home. 

Your Home, Roof Position and Weather

Firstly, what kind of roof do you have? Solar panels work best with strong, durable roofing material (composite, asphalt shingle, concrete tile or standing seam metal.) For softer materials such as wood shake and slate tile or roofs made of clay with mortar-coated steel, you can still opt for solar power; however you may want to choose a supplier who has experience in this type of installation to ensure all is correct and safe. 

While we are on the subject, if your roof is due to be replaced at any point in the near future (25 years or less) it is a good idea to do this home improvement before you consider installing solar panels. You are potentially adding additional weight to your home from the top down, and so from a safety point of view, you should only do so if the roof is in a good and strong condition. 

The main initial concern of any household looking to install solar panels on the roof is the amount of sunlight your roof will receive. When you initially speak with a supplier, they should take out a suitability visit and consultation based on your home orientation. Although houses that are south-facing often receive more sunlight, it tends to be tree placement and roof angle that would be more of an issue when making the decision if installing solar panels is the right choice. 

Although local climate can also have an effect on how much energy will be created. It is possible to install solar power equipment in all climates, from rainy to hot and dry. Only if you live in an area of extreme weather can this be an issue, so it would be worth checking the durability of the panels you are considering for your home. 

Do You Have Enough Space Available For the Equipment?

A final consideration for your home in the early stages of this process is the space that you have available for installing solar panels. With a quick at-home test, you can tick this one off the list yourself. The steps to follow for your own at-home solar panel space calculation would be: 

1.    Check out your electricity bill to see how many kWh on average your home uses. 

2.    Measure your available roof space. The average solar panel is around 17.6 square feet and will produce 265 watts under direct sunlight per day- 15 watts per square foot. 

3.    Figure out how many panels will fit in your available roof space by dividing your square footage by 17.6.

4.    Then, multiply the number of panels by 265 watts and then by 30 days. 

Do the numbers match up with the amount of electricity you use per month? If so, you have enough space, if not, you may still be able to use solar energy to supplement your usage, reducing your monthly costs from the more traditional suppliers. 

If you have managed to answer yes to most of the above points, it may be time to get in touch with an expert to confirm that your home is a good candidate for solar panels and decide what type of system would work best for your needs! Feel free to reach out to our team today!