1) They heard about the 30% federal tax credit! It is not just a “deduction.” It is a “non refundable tax credit,” which can be spread across several years, if need be. Speak to your CPA to understand how this would impact you.
2) They realized that their electric bill is a rental payment. It is perpetual and it keeps going up! They own their home and want to own their energy, too. By making this smart switch, average savings will soar into six-figures during the lifespan of the system.
3) They found out that the majority of homeowners did not pay anything upfront to install their system. They financed it, which turned a “rental” payment into a temporary “mortgage” payment–and it increased the value of their home.
4) They learned that Duke Energy in Kentucky provides something called Net Metering. This means that Duke Energy will provide credits for any extra energy that your solar panels produce to use in a future month! In turn, they didn’t have to buy a battery to store excess energy. A battery is still an option to back up your home in case of an outage, but it is not required. See how it works on a real bill!
5) They wanted to join the battle against climate change! During the lifespan of the average solar system in our area, the reduction of CO2 emissions is equivalent to eliminating the use of 13,000 gallons of gasoline!