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/

Solar panel system installation: what to expect

If you’re considering installing a solar panel system at home, you may be wondering what happens during the installation process and what you can expect. More people are opting for home solar systems now because they want to break free from conventional energy, reduce their environmental footprint, and lower their monthly energy costs. 

In this article, we’ll discuss each step of the installation process from start to finish. If you have any questions or would like more information, please contact our team today – they’ll be happy to help.

Step #1: Install Solar Panel Mounts

The first step is installing solar panel mounts. These pieces are affixed to your roof, and then your solar panels are affixed to the mounts. Your solar installer will inspect your roof to determine what type of mounts will work best, and then they’ll place them in the ideal position for maximum sun exposure. While it’s true that solar panels generate energy on cloudy days, you want your solar panels to be in the best position possible to absorb as much sunlight as they can, hency why it’s so important to properly place the mounts. 

Step #2: Install the Solar Panels

Once the mounts are firmly in place, it’s time to attach the solar panels to the mounts. Your solar installer will ensure the panels are properly attached to the mounts and that they’re angled correctly. It’s important that your solar panels are securely affixed to the mounts.

Step #3: Wire the Solar Panels

After your solar panels have been secured to the mounts, you’ll need to install the electrical wiring. Turn off your home’s power supply before this step. 

Step #4: Install Solar Inverter and Consumer Unit

The solar inverter is a crucial part of the home solar system. It converts sunlight into the energy used to power your home. Solar inverters are usually placed near the main solar panel, and we recommend they be kept in a cool place away from direct sunlight. 

The solar inverter will need to be connected to the consumer unit, which is your fuse board, in order to generate electricity. 

Step #5: Start and Test Solar Panels

You’re now ready to turn your power back on and let your solar panels get to work. Once your home solar system is up and running you can install an app on your phone that allows you to monitor your electricity usage in real time.

To learn more about solar power and how our team can install a home solar system for you, please call us today or visit our website at: http://greenhouse.solar