By installing a solar panel system, homeowners can save money while reducing their dependence on fossil fuels.
Solar panel systems are an increasingly popular choice for homeowners looking to reduce their dependence on fossil fuels and save money. Benefits include reduced energy costs, increased property value, decreased environmental impact, and financial incentives like solar tax credits.
Determining whether a solar roofing system is right for your home is a big decision. That’s why Bone Dry Solar is committed to educating our Indianapolis neighbors about how residential solar panels work, what the benefits might be for your home, and why it is essential to work with an experienced roofing company when considering a home solar system installation.
What is Solar Roofing?
Solar panels are a type of renewable energy system that uses photovoltaic cells to convert sunlight into electricity. It is an increasingly popular choice for homeowners looking to reduce their dependence on fossil fuels and save money on their energy bills. Solar roofing systems come in a variety of sizes, shapes, and configurations, making them suitable for almost any home or business.
Solar roofing refers to the installation of solar panels onto the roofs of homes or businesses to generate electricity from the sun’s rays. The photovoltaic cells within these panels absorb light from the sun and convert it into direct current (DC) electricity which can then be used by your home or business appliances and devices as needed.
A solar installation offers many advantages, such as reduced energy costs, increased property value, decreased environmental impact and greater independence from traditional utility companies. Utilizing clean renewable energy sources like solar power can help reduce your carbon footprint while also providing savings on monthly electric bills due to lower usage rates charged by most utilities when using green energy sources instead of fossil fuels. Furthermore, you may be eligible for state and federal tax credits and other incentives for those who install a solar panel system, which further reduces the overall cost associated with this type of renewable energy system.
Solar roofing is a great way to save money, reduce your dependence on fossil fuels, and help the environment. Now let’s take a closer look at how solar roofing works.
How Does Solar Roofing Work?
To understand how solar roofing works, it’s important to know the components of a typical system.
A solar roofing system consists of photovoltaic (PV) cells and panels, inverters, batteries, wiring, mounting hardware and other components. PV cells are made up of semiconductor materials that convert sunlight into direct current (DC) electricity when exposed to light. The DC electricity produced by the PV cells is then sent through an inverter which converts it into alternating current (AC), making it suitable for use in homes or businesses.
Batteries may be used to store excess energy generated during peak production times so that it can be used later when needed. Wiring connects all these components together and allows them to communicate with each other as well as with any monitoring systems you may have installed in your home or business. Finally, mounting hardware secures the entire system onto your rooftop so that everything stays safely in place throughout its lifetime.
Understanding Photovoltaic Cells and Panels
PV cells are small rectangular pieces made from silicon-based materials like gallium arsenide or polycrystalline silicon wafers sandwiched between two metal contacts called electrodes – one positive (+) and one negative (-). When light strikes a cell’s surface electrons become excited causing electrical charges to flow across the cell’s surface creating an electric field known as “the photoelectric effect.” This electric field produces direct current (DC) electricity which is collected at the electrodes before being sent off through wires connected directly to an inverter where it will be converted into alternating current (AC). Solar panels consist of multiple individual PV cells wired together inside a frame designed for outdoor installation on rooftops or in a ground mounted array elsewhere around your property.
A solar system installation on your home has numerous environmental benefits that can help minimize pollution from traditional energy sources, as well as support sustainable practices in our communities.
Because solar roofing systems are powered by renewable energy sources such as sunlight, they don’t emit any greenhouse gases or other pollutants into the atmosphere. This helps reduce the carbon footprint and makes solar roofs an excellent choice for those looking to do their part in protecting the environment. Additionally, since solar panels require little maintenance and have no moving parts, they produce clean energy without any noise pollution or other emissions associated with traditional power plants.
By using solar power instead of electricity generated from burning fossil fuels like coal or natural gas, you can significantly reduce air pollution caused by these substances. Solar roofs provide an alternative source of energy that doesn’t pollute the air we breathe while still providing reliable electricity for your home or business needs.
Financial Considerations for Solar Roofing Systems
Many homeowners are eligible for tax credits and rebates when they install a solar roofing system. The recently expanded Residential Clean Energy Credit (also known as the Solar Investment Tax Credit) has increased to 30% of the solar panel installation cost, which includes the cost of the system’s components, installation, and associated fees during the year of the installation.
Because a tax credit reduces the income tax you would have paid on a dollar-for-dollar basis, taking advantage of the Solar Investment Tax Credit can significantly reduce the cost of a solar power installation. For example, if your solar installation cost $20,000 and you claim the 30% Solar Investment Tax Credit, you will owe $6,000 less in federal income tax for the year, effectively lowering the system’s total cost to $14,000. As the law currently stands, if the amount of tax you owe for the year is less than the credited about you can roll the difference over to the following tax year.
The Solar Investment Tax Credit will lower to 26% in 2033, and again to 22% in 2034 before being eliminated entirely. So now is the time to contact Bone Dry Solar to install residential solar panels while the tax credits are at their highest amount.
Indiana also offers several incentives for solar installation by its residents. To begin with, the assessed value of a solar panel installation is exempt from property taxes. So, even as it adds value to your home, your new solar array will not increase your property tax. In addition, many of the components we use to install a solar system are exempt from Indiana sales tax because they are directly related to the production of electricity.
If your solar panels produce more power than you can use during the day, you can sell the excess power back to the grid. This is called solar buyback or net metering and is allowed under Indiana law. Your electricity company will buy your excess solar power from you. And you’ll receive the money as a bill credit. You will need a smart meter, an interconnection agreement with your utility company, and a retail electricity provider to buy your excess power. Ask your Bone Dry Solar representative for more details.
Aside from tax incentives and credits from selling excess electricity, solar roofing systems can provide significant savings over time in terms of energy bills. But it’s important to understand how long it will take to recoup your initial investment before deciding to install one. Factors like location, size of the system, available incentives and financing options all play into calculating return on investment (ROI) for any given project. It’s also important to consider potential increases in home value due to having an energy-efficient home with lower utility bills over time.
Work with Indianapolis’ Top Solar Installation Company
Bone Dry Solar’s customer-first approach and 30+ years of roofing experience make us the right choice among solar power companies in Indianapolis. Find out how a solar installation with Bone Dry Solar – including our exclusive 10-year warranty – can benefit you in cost savings, energy independence, and environmental thoughtfulness. Contact us today for a FREE solar installation analysis.