Go Solar Power For Homes

 

Major solar power for homes manufacturers are over the moon now that tax credits in the U.S. bank bailout bill are set to massively boost sales.

As part of the $700 billion legislation to bolster the banking industry, major wholesalers, utility companies, and retailers will be able to deduct 30 percent of the cost of solar power for homes systems from federal income taxes.

While the demand for renewable energy will probably decline dramatically thanks to a possible 45 percent reduction in oil prices, nevertheless, the agreement to allow U.S. subsidies for the next eight years will ensure that solar power for homes remains extremely competitive.

In fact, it is likely the U.S. will overtake Germany as the largest solar power for homes consumer in the next few years.

According to Chicago-based Navigant Consulting, there are 30 billion square feet of large, flat, shade-free roofs in the U.S. This could provide space for enough panels to generate as much as 150,000 megawatts of solar power for homes. At a cost of about $650 billion, that would represent 25 percent of the total U.S. electricity needs.

How it might work out typically is that your average householder would have to pay about $50,000 to install a full solar power for homes system into their house. With tax incentives, they would realistically expect to get just under half of that back in tax breaks.

In terms of savings, taking into account the inevitable rise in prices for fossil fuel supply, the solar power for homes owner would get their actual outlay back within 7 to 10 years. So long as they don’t get broken by hail stones or the like, solar panels don’t seem to decay or reduce in efficiency. We have heard of 50 year old panels still working fine. (Yes! The solar power for homes industry really has been going that long!) 

Don’t forget that after the outlay has been covered, the rest is pure profit! The could  mean free solar power for homes for 40 years!

The difficult part is to encourage people to make the initial investment in solar power for homes . Well, for the sake of your long-term bank balance, as well as the environment, there has never been a better time than right now to go solar power for homes!

From Sam Deane,
your solar power for homes guide,
at www dot go solar power for homes dot com.

 

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Info via bloomberg.com
The Trackback, /bank-bailout-package-makes-solar-power-for-homes-irresistable by Sam Deane, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License.

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