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An analysis by the National Renewable Energy Laboratory (NREL) suggests home solar costs 2–12% more in early 2022 than in 2021. Extreme market conditions pushed up the price of modules, inverters, labor, and permits. The good news? Solar costs are very likely to decrease in 2023, making rooftop renewables affordable for more homeowners. In November 2022, the National Renewable Energy Laboratory (NREL) published its analysis of the cost of solar and energy storage (battery) system installations for the first quarter of 2022. The data shows higher solar prices compared to expectations. In fact, analysts noted that “extreme market conditions in 2021 and the [...]

Our team at Sea Bright Solar frequently fields questions from homeowners interested in adopting solar power. From straightforward inquiries like "What is solar energy?" to more complex ones such as "How efficient are solar panels?" we've compiled a list of the most common questions from those considering solar to lower their energy costs and carbon footprint. "Is solar energy free?" Unfortunately, some misleading advertisements suggest that solar power is free. This is not the case. However, numerous federal and local tax incentives can make solar more affordable. Homeowners who install a solar system this year can take advantage of the [...]

The Investment Tax Credit (ITC) is a federal solar incentive that has helped make solar energy more affordable for homeowners and businesses across the United States. The ITC is also known as the Solar Investment Tax Credit (SITC) or the Solar Tax Credit. We will explore the details of the ITC, how it works, and how you can take advantage of this solar incentive. What is the Investment Tax Credit? The Investment Tax Credit is a federal tax credit that allows homeowners and businesses to deduct a portion of the cost of installing a solar energy system from their federal [...]

Right now is a good time for those who are interested in installing solar panels in their homes and businesses. In August 2022, the Inflation Reduction Act (IRA) was signed by President Biden. As part of the act, the Federal Investment Tax Credit (ITC) was increased to 30% and was extended until 2032. As a result, eligible solar residential and business customers will be able to take advantage of tax credits for the cost of the system. Larger commercial systems benefit from additional credits of up to 50% (or even more) of the cost. Another important feature of the IRA [...]

Buying or selling a home is always a significant life change. There are lots of things to consider when you are planning to relocate. What to do about your solar system may be one of them. But it doesn’t have to feel daunting. Realtors and homeowners are also becoming savvy about the value of solar power when it comes to home sales and purchases. That expertise helps, but as solar grows in popularity, it is mostly considered a great addition. Besides paying for your system outright, there are other financing tools you might have used—the three other ways to finance [...]

Solar energy is a great investment. The federal solar investment tax credit (ITC) makes it even better. But the time to redeem the ITC at its current maximum value is coming to an end, so homeowners should act now. With the ITC, homeowners get a federal tax credit for a percentage of the cost of their solar system, making it more affordable. Throughout 2022, the ITC for residential installations will remain at 26 percent of the amount invested in an eligible solar system as long as the construction begins before 2023. But homeowners want to save the most money with [...]

So, you’re on the path to going solar. It is an exciting time, and there is a lot of information coming your way! It’s important to understand just what you’ll be getting and what the real costs will be. Here are some tips to look for in the quote: Warranty & Production Guarantee The warranty on your system is very important. While most panels will last far longer than they are warranted, make sure that they clearly state how things will be handled should something go wrong. The production of your system is another key point to understand. A system [...]