The Future and Solar Power

Solar technology is evolving quickly, and there are several different types of innovative solar panels you can expect to see more of in the near future. While solar panels themselves are not exactly a new technology, their prevalence among homeowners is relatively new within the last few decades. As the need for clean, renewable energy continues to grow, so will the various futuristic solar options. Here are a few you can watch out for.

Solar Skins

A solar skin is a piece of thin material that produces an electrical current when it’s exposed to sunlight. Think of it as a piece of saran wrap that you can wrap around an object, like a cell phone for example. Solar skins can be applied to almost any surface – cars, the outside of a home, a motorized scooter – and they generate power for the object they’re wrapped around. Soon you may be able to buy a solar skin to charge your phone in the sun!

Floating Solar Farms

Floating solar farms are clusters of solar panels installed on the surface of lakes, industrial ponds, reservoirs, and other bodies of water near coastal areas. Land is both limited and expensive, so utilizing water to generate renewable energy is an excellent alternative. Portugal is home to Europe’s largest floating solar park, located on the Alqueva reservoir, and it supplies the nearby towns with a third of its power. 

Solar Power Street Lights

Did you know that it can cost millions of dollars per year to keep street lights illuminated using electricity from the grid? Solar power street lights are just one way that cities can reduce their dependency on non-renewable energy. Not to mention, a solar power street light has a lifespan of around 25 years, making it incredibly efficient. 

Replacing the Grid With Solar Energy

If you’re interested in getting your home or business off the grid, investing in a solar system is the right choice. Despite the common misconception, your solar panels will still release energy to your building when it’s not sunny or when it’s dark outside, and solar accessories like batteries ensure your home stays powered around the clock.

As you can see, the future of solar is very exciting and full of possibilities! If you’d like to learn more about innovative solar panels, or if you have any residential or commercial solar questions, please give us a call or visit our website at: http://greenhouse.solar/

How the IRA Helps Property Owners Lower Energy Bills

The United States Congress recently passed the Inflation Reduction Act (IRA), which among several other things, aims to promote clean and renewable sources of energy. This is great news for homeowners who have been thinking about installing home solar systems, but perhaps needed a little push to do so. And by “push” we mean attractive incentives that will help you save up to 30% on solar installation costs.  Let’s take a look at what’s in the IRA and the benefits you can access by installing residential solar panels in 2022. 

Inflation Reduction Act 

The Inflation Reduction Act was passed in August 2022, and it’s touted as being a game-changer for both the solar industry and solar manufacturing in the United States. Some of its key provisions include changes to tax laws that will impact solar manufacturing, and incentives to combat climate change. 

Investment Tax Credit

The Investment Tax Credit has been increased from 26% to 30%, meaning if you install a home solar system you can claim back 30% of your installation costs. This tax credit applies to both residential and commercial solar systems, and it will be in effect until the end of 2032. 

Additionally, battery-based solar energy storage systems also qualify for the ITC on their own – you don’t need to have purchased one as part of a new solar installation to apply for the tax credit. 

Clean Electricity Production Credit

The solar power industry is now eligible for the Clean Electricity Production Credit. All solar power projects that meet wage requirements will receive a tax credit of 2.5 cents / kWh for the first 10 years of the project’s duration. This credit will be increased according to inflation year-on-year. 

Domestically Produced Hardware

To encourage an increase in US-based solar manufacturing, solar manufacturers will receive various tax credits for producing the components of a solar system, including solar panels, inverters, and racking components. 

Community Solar Projects

Solar panels that direct their energy into community solar projects for low-income people will receive an additional 10% tax credit, meaning the total tax credit could potentially be around 60! 

If you’d like to know more about how installing solar panels can help you lower your energy bills, or if you have any other questions about solar panel installation in NJ, please contact our team at Green House Solar today or visit: http://greenhouse.solar/