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Do Solar Panels Affect My Home’s Appraisal?

As the cost of electricity rises—with no signs of slowing down—a solar energy system is one of the best investments you can make for your home. By collecting free energy from the sun’s rays, a high-quality solar energy system can reduce or completely eliminate your electricity bill. In some cases, it can even earn you money if you collect enough power to send it back to the grid. But how do solar panels affect your home’s appraisal? Read on to learn everything you need to know

Solar Panels Have a Positive Impact on Home Value

According to a study from Zillow, solar panels do affect the appraisal value of your home in a big way. The study found that buyers are prioritizing energy efficiency more and more—so much so that they’re willing to pay 4.1% more on average than comparable homes that don’t have solar. 

What’s more, a solar home study from the U.S. Department of Energy’s Berkeley National Laboratory found that homebuyers are willing to add $15,000 or more to the price of a home that’s already equipped with solar power. It’s clear that a solar home energy system is a major selling point if you choose to put your home on the market in the future. Not only can it help you get a better price for your home, but it can also generate immediate buyer interest, helping your property sell quicker.

Maximizing Your Solar Energy Investment

As you consider making the switch to solar, remember that choosing the very best solar energy technology raises the appraised value and potential selling price of your home. It’s wise to invest in top-quality panels that provide maximum efficiency. Also, consider the following solar upgrades and programs that can bring your upfront costs down and bring you the best return on your investment:

• Government Incentives. There are several solar incentives available on the federal, state, and local levels across the country. For example, homeowners who make the switch to solar enjoy a federal tax deduction equal to 30% of the overall cost of installation.

• Net-Metering. If you invest in a high-quality solar energy system, your panels will likely collect more energy than your home needs. With net-metering programs, you can sell this extra energy back to the grid. 

• Solar Batteries. If net-metering isn’t available in your area—or you’d rather store extra energy just in case—it’s wise to invest in a solar battery. You can save up energy that you can use in case of blackouts, days with low sunlight, or at night.

Invest in Your Home by Switching to Solar

Ready to raise your home value and enjoy energy independence all at once? Switching to solar energy to power your home provides several benefits, as long as you invest in a high-quality system. The solar experts at Solar Bear of Tampa are ready to install a premium solar energy system that helps you make the most of your investment. Call us today at (727) 471-7442 for an estimate! 

What Happens to Solar Batteries When the Storage Is Full?

Solar power is becoming increasingly popular as an alternative energy source, and one important component of this technology is solar batteries. But what happens when the storage in your solar battery is full?

Our team at Solar Bear Orlando explains this process in detail in this article. We’ll cover what happens to solar batteries when the storage capacity is reached, as well as some tips to make sure your system stays running smoothly. Let’s jump in!

What Are Solar Batteries?

Solar batteries are an innovative solution to store the energy that comes from solar panels. These batteries store excess energy generated by solar panels during peak hours and release it when necessary, allowing homeowners to use solar power even when the sun isn’t shining. With a solar battery system, you can increase your consumption of renewable energy and reduce your reliance on the grid.

There are two types of solar batteries you can choose from:

• Lead-acid
• Lithium-ion.

Lead-acid batteries are more affordable but have a shorter lifespan than lithium-ion batteries. Lithium-ion batteries are more expensive but last longer and offer better performance.

While both types of batteries can be used for storing solar energy, it’s important to choose one that suits your specific needs based on factors such as:

• Budget
• Storage capacity
• Discharge rate
• Maintenance requirements

What Happens When Solar Batteries Are Full?

When your solar batteries are full, excess electricity will be sent back to the grid. This means you can earn credits with your utility company and potentially even receive payment for the excess energy you produce. Not only does this reduce your dependence on traditional power sources, but it can also help offset any costs associated with installing and maintaining a solar system.

Second, modern solar systems come equipped with smart technology that monitors energy usage in real time. When your batteries are full, this technology will automatically redirect any additional energy toward powering appliances or devices within your home or business.

How Can I Prevent My Solar Batteries from Becoming Full?

If you’re concerned about your solar batteries becoming full, don’t worry! There are a few things you can do to prevent this from happening.

• Consider installing a charge controller. This device helps regulate the amount of energy that goes into your battery and prevents overcharging. Additionally, some charge controllers have settings for different types of batteries, so make sure to select the appropriate one.

• Adjust the angle and position of your solar panels. In Florida, where we enjoy plenty of sunshine all year round, it’s important to ensure that your panels are positioned correctly to receive maximum sunlight. You can do this by using a solar panel mounting kit or consulting with a professional installer.

• Consider adding more appliances or devices that use electricity in your home. This will help draw more electricity from your solar battery to ensure that it doesn’t reach capacity. Recommendations include a solar pool pump, or how about a solar-powered outdoor kitchen? That would be pretty cool!

Choose Solar Bear Orlando

Ready to install a solar panel system or solar battery for your Orlando or Central Florida home? Look no further than Solar Bear Orlando! Our skilled team of solar pros will help you choose the perfect setup for you so you can begin your journey to energy independence!

Contact us to get started today at (727) 471-7442!

4 Home Investments That Will Save You Money Over Time

Looking for ways to save money while investing in your home? Investing in long-term projects that lead to lower monthly costs can be an excellent way to save money. Plus, when done correctly, you’ll also enhance the value of your property and enjoy a better living environment. To help get you started, here are 4 surefire investments in your home that will pay off over time.

Solar Energy Systems

Solar energy systems for the home continue to improve year after year, and the cost of both panels and installation has become much cheaper. On top of that, solar panels are becoming even more efficient, making it easy to power your home with free energy from the sun.

Homeowners are enjoying a faster-than-ever return on their investment in solar. In fact, the average system can be paid back to a homeowner in just 7.5 years by reducing or even eliminating your electricity bill. Plus, you can receive a 22% tax credit on your investment until 2024 thanks to the Investment Tax Credit.

Solar Batteries/Net Metering

Did you know that some home solar energy systems create more energy than a household can use? With solar batteries, homeowners with solar energy systems can store the energy they don’t use. With net metering, you can even sell that energy back to the grid. So, not only can you eliminate your electricity bills completely with a solar energy system, but you can even make money on the energy your system produces and pay off your investment in solar even faster.

Smart Home Thermostat

If you’re looking for a handy device that enables more energy-efficient living, look no further than the smart home thermostat. These thermostats “think” for you, so you’re only heating and cooling the parts of your home when you need to. 

Smart thermostats detect when no one is home and turn off the heating and cooling systems. They can also target heating and cooling only to occupied rooms, and they can even understand your household’s schedule for worry-free efficiency. 

Tankless Water Heater

Investing in a tankless water heater is an investment in efficiency. This helpful appliance reduces your energy bills since water gets heated only on demand, unlike a traditional water heater that uses energy to keep water hot 24/7. While the upfront cost of a tankless water heater may be high, you’ll save money over the years in water and energy. 

Make Smart Investments in Your Home Today

When it comes to practical home improvements that save you money over time, investing in solar energy systems—along with batteries and net metering—offers the best bang for your buck. Ready to save money and make the switch to solar? Contact the solar experts at Solar Bear of Tampa today at (727) 471-7442 to get started!

Are Solar Batteries Eligible for Tax Credit?

Are you considering switching to solar power in Florida? You may be interested in knowing if solar batteries qualify for tax credits.

This article will provide an overview of what you need to know about solar battery tax credits and how they can help make the switch to solar even more affordable. We’ll explore eligibility, potential savings, and other factors that can affect the cost of switching to solar-powered energy. Let’s dive in!

The Inflation Reduction Act of 2022

Before we get to the question of tax credits and solar batteries, we first must discuss the Inflation Reduction Act (IRA) that was signed into law in late 2022 by President Biden.

Regarding solar panels and solar battery storage, this credit was formerly known as the Investment Tax Credit, but it was recently expanded by the IRA. It is worth a 30% credit on your total solar installation costs and is available until 2032. After that, the credit will reduce to 26% in 2033 and 22% in 2034.

Solar Batteries and Tax Credits

So yes, to answer the questions, in many cases, homeowners can receive a tax credit for installing solar batteries.

In Florida, homeowners can receive a federal tax credit of up to 30% of the cost of installing a solar battery system. This means that if you invest $10,000 into a new solar battery system for your home, you may qualify for a $3,000 credit on your taxes. Some states also offer incentives and rebates on top of this federal tax credit.

It’s important to note that specific requirements must be met to qualify for these tax credits. For example, solar batteries must be charged entirely by renewable energy sources such as wind or solar power. You must also own the battery system (not leasing it) and own the property you are installing it on.

Finally, the battery must have a capacity of no less than 3 kilowatt-hours.

Do Standalone Solar Batteries Qualify?

Batteries that aren’t directly connected to solar panels also qualify for the tax credit as of 2023.

What if I Already Have Solar and I Want to Install a New Battery?

Although there has yet to be guidance issued about this specific scenario, it appears that homeowners will be able to claim the energy credit for adding battery storage to their existing solar systems.

For example, if you installed a solar system in 2022 and claimed the tax credit for it, you could add a solar battery storage system and claim that in 2023 for a tax credit too.

How Can I Apply for the Tax Credit?

The good news is that you don’t have to apply for the solar battery tax credit, you just need to claim the credit when you file your taxes.

Things you will need to claim the credit include:

• All receipts associated with the solar battery installation
• IRS Form 5695 for residential taxpayers or IRS Form 3468 for commercial taxpayers
• Add your credit information to your IRS form 1040

Remember, even though the solar tax credits are available for the next ten years, it doesn’t mean that you should wait to invest in solar! The sooner you install a system, the sooner you’ll see savings on your energy costs and taxes!

This is Great, But Do I Even Need a Solar Battery?

Honestly, whether you purchase a solar battery depends largely on your situation and power needs. But we truly believe that a solar battery storage system adds a lot of value to your solar system.

The biggest benefit is that having a bank of stored power can be greatly helpful during a blackout or major weather event like a hurricane.

Plus, you’ll be able to become even more energy independent as pairing a solar battery with your solar system essentially creates your own mini utility ready to use whenever you need power.

Central Florida Solar

Those tax rebates are sure enticing, aren’t they?! And those savings don’t even include the reduction in energy costs and dependence on your utility company!

Take advantage of Florida’s sunshine and install a solar system and solar battery at your Central Florida home or business today! Contact our friendly solar pros at Solar Bear Orlando for a quote today at (727) 471-7442!