{"id":854,"date":"2023-05-17T03:24:09","date_gmt":"2023-05-17T03:24:09","guid":{"rendered":"https:\/\/hallmarkhomesassociates.com\/?p=854"},"modified":"2023-05-17T03:24:11","modified_gmt":"2023-05-17T03:24:11","slug":"what-are-the-benefits-of-switching-to-solar-in-2023","status":"publish","type":"post","link":"https:\/\/hallmarkhomesassociates.com\/?p=854","title":{"rendered":"What Are The Benefits of Switching to Solar in 2023?"},"content":{"rendered":"\n<p>As a&nbsp;<a href=\"http:\/\/solarslatesolutions.com\/\">solar installation company<\/a>, we\u2019re obviously interested in helping people see the benefits of solar energy. The average financial savings on the household energy bill comes out to about $1,300 annually \u2013 obviously significant \u2013 and there\u2019s also the reduction of fossil fuels the household uses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">But what are some of the other benefits of going solar in 2023?<\/h2>\n\n\n\n<p>Marketwatch reports on the changes to the Federal Tax credit:<\/p>\n\n\n\n<p>The&nbsp;<a href=\"https:\/\/www.marketwatch.com\/picks\/guides\/home-improvement\/federal-solar-tax-credits\/\" target=\"_blank\" rel=\"noreferrer noopener\">federal solar credit<\/a>&nbsp;gives you back 30% of your solar project costs as a tax deduction for the year you install panels. In other words, the ITC provides a tax credit of $300 for every $1,000 you invest in residential solar panels, battery systems and other renewable technologies. So if you spend $30,000 on a 10 kW solar system, the federal tax credit is equivalent to $9,000 tax credits.<\/p>\n\n\n\n<p>Keep in mind that the ITC is a tax deduction, not a refund or rebate. If your tax burden is not high enough to claim the benefit in a single year, you can roll over the unused difference to the following year.&nbsp;<\/p>\n\n\n\n<p>There are also state and local incentives available. In our previous blog about avoiding solar scams, we talked about researching what these incentives are before depending on them. Here is a link to a&nbsp;<a href=\"https:\/\/www.dsireusa.org\/\">comprehensive database of green energy incentives nationwide<\/a>&nbsp;that you can check out.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Does Going Solar Increase the Resale Value of Your Home?<\/h2>\n\n\n\n<p>The real estate experts all agree: having a solar system installed will increase the value of the home. Potential buyers appreciate the benefits of energy independence, and are willing to pay up for it. Rocket Homes<sup>SM<\/sup>&nbsp;data for the full year 2021 showed that&nbsp;<strong>homes with solar panels spent 13.3% less time on the market and were 24.7% more likely to receive an offer over asking<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As a&nbsp;solar installation company, we\u2019re obviously interested in helping people see the benefits of solar energy. The average financial savings on the household energy bill comes out to about $1,300 annually \u2013 obviously significant \u2013 and there\u2019s also the reduction of fossil fuels the household uses. But what are some of the other benefits of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"2":"type-post","7":"entry"},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"hallmark","author_link":"https:\/\/hallmarkhomesassociates.com\/?author=1"},"acf":[],"_links":{"self":[{"href":"https:\/\/hallmarkhomesassociates.com\/index.php?rest_route=\/wp\/v2\/posts\/854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hallmarkhomesassociates.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hallmarkhomesassociates.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hallmarkhomesassociates.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hallmarkhomesassociates.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=854"}],"version-history":[{"count":0,"href":"https:\/\/hallmarkhomesassociates.com\/index.php?rest_route=\/wp\/v2\/posts\/854\/revisions"}],"wp:attachment":[{"href":"https:\/\/hallmarkhomesassociates.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hallmarkhomesassociates.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hallmarkhomesassociates.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}