Solar is Affordable
The cost of solar depends on specifics, including size of the system, federal energy incentives, and state energy rebates. To price a system for your needs, have us conduct a free solar evaluation of your home or business. In our proposal we will show you how to take advantage of the complete financial model, including:
30% Federal Energy Incentive.The federal government offeres a renewable energy incentive of a 30% the cost of a system as a tax credit. SunBug designs systems that are in compliance with all federal reporting regulations in order to take complete advantage of that tax incentive.
State Rebates.In Massachusetts, the state offers direct rebates based upon the size of the system, its efficiency, the components used, and home value for both Solar Electric and Solar Hot Water systems. These energy rebates can cut the cost of a system by another 10 to 20 percent, meaning that with federal energy incentives you could see a saving of 50% on your solar system. SunBug designs its systems in conjunction with state’s rebate matrix to get the maximum Massachusetts energy rebate.
State Production Incentives.The MA Department of Energy Resources runs a Solar Renewable Energy Credit, or SREC market. This program offers an on-going production incentive for homeowners and businesses with solar electric systems. An SREC does not represent electricity itself - solar system owners make their own electricity and experience the associated utility savings independent of the SREC program. SRECs are an additional, and very lucrative, financial incentive for Photovoltaic electricity producers.
Increased home value.Switching to solar power can increase your home's value. A study published by the Appraisal Institute estimates that for every utility-bill dollar saved due to an energy improvement, you gain $20 in property value. So a solar system that saves $1,000 per year in utility costs can increase your home’s value by $20,000. And today, home buyers are more aware than ever of reduced operating costs and carbon footprints. The U.S. Department of Energy recently found that even in soft housing markets, a home with solar will sell in half the time as one without.
Solar Financing.If outright purchase is still cost-prohibitive after all rebates and tax credits, our SunFuel program may make sense for you. Our SunFuel Partners will craft a solar loan program based on your own goals, budget and credit. Or, take advantage of our SunFuel Lease to go solar today without a large initial investment. Learn more
Solar and Home Value
A solar energy system can increase home value in a way that is unlike a traditional home improvement project. Renovating a kitchen, for instance, requires significant upfront cost while its value decreases over time, as the kitchen bacomes outdated. By comparison, a solar system's value can increase over time becuase it returns a yield – the power generated. As the cost of power increases, so does the value of the system.