With the rising cost of power and recent technological advancements in solar panels and batteries, solar power is more practical that ever. The biggest hurdle for people when trying to go solar is the high initial start-up cost. New home systems run between $15,000 and $20,000. There are a number of economic incentives to help defray the cost of home solar systems. These include grants, rebates and tax deductions and credits.
History
Economic incentives for solar power began in the '70s as a way to spur interest in the fledgling solar construction market. The U.S. government was looking for ways to wean the country's appetite for costly and unstable Middle East oil. So, grants and rebates were doled out to homeowners to help pay for solar panels and other equipment. When gas prices leveled off in the '80s, many of these programs dried up. And so did much of the demand for solar power.
Considerations
In the '90s, the climate for solar power improved as energy prices again began to steadily climb. Also, the threat of global warming caused by greenhouse gases like carbon dioxide emerged. The momentum behind government incentives for solar systems began to gain steam. This momentum built as the government sought to curb the carbon dioxide emissions of coal or fuel-fired power plants.
Features
There are a number of federal incentives available to help reimburse the costs for constructing solar-power systems. One of the most significant is the American Recovery and Reinvestment Act. This act was passed in February 2009. The grant reimburses up to 30 percent of the cost associated with purchasing solar energy equipment. Any solar equipment used to generate solar electricity, to heat or cool, is eligible for the program, as are hybrid solar lighting systems.
Types
There are also a number of state and local programs to help with the costs of going solar. California, for instance, has a state grant program for school modernization that provides funds for solar projects. They also have a grant program which offers incentives to utilities that promote solar options. In addition, a plethora of counties nationwide offer rebate programs to homeowners who install solar systems.
Benefits
Incentives for solar power have been an effective method to promote construction of new solar power installations. In the U.S., the number of home solar installations grew by 45 percent in 2007. There are many benefits to the increased use of solar power: from cleaner air to providing green jobs to smaller energy bills at the end of each month.
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