Congratulations on going solar! Here are some things to look out for now that you are a proud solar owner.
Turning on Your System
Although your system has been completely installed, it still needs to be turned on to begin generating energy. In order for your system to be turned on, you’ll need two things: a bi-directional meter and a Permission to Operate from your utility company. Once you have those two things, your home is ready to harvest the power of the sun.
Your Home’s Value
Of course with any upgrade to a home, you’ll see its value increase. On average, homeowners can expect solar panels to increase their home’s value by 4.1%. This value may vary depending on the area, no metropolitan area saw home values drop due to solar¹.
State Solar Programs & Incentives
As we turn to cleaner alternatives to energy, state governments are taking part in creating programs and incentives to push more homeowners to move towards owning a solar panel system. Make sure to find out what programs are available in your state to reap the maximum benefits of solar.
There are a few federal programs available. The most notable one is the Investment Tax Credit or ITC. Currently all systems installed before December 31, 2023 are eligible for this tax credit (up to 22%). It is advised to take advantage of the tax credit as its percentage decreases year by year.
Your Energy Bill and Net Metering
One of the main reasons homeowners go solar is to reduce their energy bills. You can expect to save between $10,000 to $30,000 on your energy bill over your system’s lifespan. The amount that is saved depends on a number of factors, mainly how much power their system can produce during the day.
The efficiency of your system is crucial to savings because of net metering. If your system is still connected to the grid, then your utility company will still be the ones in charge of your electricity bill. Net metering is the process where your utility company will credit you in the case where your system produces more energy than your home is consuming. How you are compensated for this excess will be different depending on your state, as net metering policies vary widely throughout the country.
True Up Bill
Your True Up Bill is a bill that you will receive annually (usually on the anniversary of your install date) from your utility company. It’s different from your monthly bill, as it reconciles all your cumulative energy charges, credits, and compensation you may be entitled to throughout your solar billing cycle. If there are any extra charges after all charges and credits are reconciled, then that amount is what you will have to pay on your True Up Bill.
It’s important that you pay close attention to your monthly electricity bill. Most utility companies will provide an estimate of how much to expect on your True Up Bill.
Even after your system is installed, you are forever part of the UES Solar family. For questions and concerns about your system, post-installation, please reach out to your project manager for assistance.
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