What if you could slash your energy bill or eliminate it entirely? A Michigan homeowner fed up with power outages did just that.
Ann Arbor resident Pete Olin was looking for an alternative to gas-powered generators in the event he ran into another blackout of power. "With these power outages we were just getting so frustrated," Olin said, according to the Solar United Neighbors. "Losing everything in the fridge and ending up in a hotel for a day or two."
Olin was able to capitalize on tax incentives to save $9,500 on installing his solar panels, and now he never has to worry about being displaced during an outage again.
The scoop
A friend introduced Olin to the Ann Arbor Solarize program, which helped him get a 15% discount on solar panels. He also took advantage of the investment tax credit, which was increased to a 30% discount due to the Inflation Reduction Act.
"After the discount, the battery system cost less than what my neighbors were paying to put in the whole-house generators," he said.
He added, "The tax credits really make it a much nicer deal than it would be, especially with the batteries."
How it's working
Pete said about 80% of his energy consumption is solar in the summer months, making his monthly energy bill roughly $20. Other cities across the country, including Austin, Texas, have also implemented programs offering incentives for making the move to solar.
Saving money on electric bills and reducing your impact on the environment is a win-win. Further, solar can increase the value of your home if you're ever in a position to sell. It's a renewable and sustainable source of power that produces no harmful pollution, which ultimately reduces polluting gases and combats the overheating of the planet.
According to the U.S. Department of Energy, if effectively harnessed, "one hour of noontime summer sun is equal to the annual U.S. electricity demand," meaning the amount of energy the Earth receives from the sun could power civilization for quite some time.
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Olin has been extremely pleased with his decision to move to solar. "So far we have had a couple power outages and it's carried us through," he said.
If you're looking to make the move to solar but don't know where to start, EnergySage has a free tool for getting estimates on solar installation and comparing quotes. The site has also vetted all the providers, adding extra reassurance for homeowners.
President-elect Donald Trump has mentioned he wants to eliminate the subsidies granted in the IRA, so if you're thinking about installing solar panels, you may want to make the jump sooner rather than later.
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