Solar energy has made substantial developments in recent years, with the cost of systems decreasing as a result of technological innovation and more support for installation.
In Maryland, more than 200 days of full sun exposure per year make solar an appealing choice, and the state is currently responsible for the production of more than 1250 MW (megawatts) of solar energy every year.
A single megawatt is enough to provide energy to around 200 homes for an entire day—which means that Maryland solar efforts are already achieving impressive clean energy production.
However, on a more individualized scale, private homeowners have plenty of reasons to go solar. From the incentives available to the impact that solar has on the environment, investing in an array can have long-lasting effects.
Here are three of the main reasons to go solar in Maryland, both for yourself and the environment.
To Help the Environment
One of the universal facts that most people know about solar panels is that they are better for the environment than many other energy options.
The Lawrence Berkeley National Laboratory found that an acre of solar panels can save around 125 metric tons of carbon dioxide each year—which, depending on the area, can make them even more effective than trees at keeping the environment free of greenhouse gasses.
Solar panels provide clean energy production that reduces or eliminates the need to rely on a municipality operating on fossil fuels. This decreased dependence lessens the overall negative impact required by the provider.
To Reduce Utility Dependence and Cost
In the same realm as reducing energy consumption for environmental reasons, homeowners also benefit from solar by detaching themselves from dependence on utility companies to supply their power.
With Maryland ranking 25th in the U.S. in terms of reliability and affordability of its utilities, homeowners could be feeling this in their budgets. Installation of a solar array liberates residences to generate their own energy whenever possible, and the addition of a battery can expand this freedom even further.
Additionally, when homes invest in solar energy, their long-term costs tend to go down significantly. On average, a residential-sized array will save in utility costs over its lifetime, supporting homeowners on their path to empowered finances as well.
To Take Advantage of Incentives
One of the simplest reasons to opt for solar panels in Maryland is the wide array of incentives available to make the process more appealing. The Maryland-Eligible Renewable Energy Credit (REC) is available for any system that produces at least 1,000 kWh.
For example, if your solar array generated 5,000 kWh in one year, you would receive 5 renewable energy credits. These credits can be sold on a marketplace, bringing extra money back to you.
The price of a credit can vary depending on market conditions, time of year, and more, but homeowners with comprehensive systems that produce energy consistently could earn hundreds of dollars each year from their RECs. A qualified solar installer can help you connect your new system to the utilities to receive credit for your unit’s production.
The federal government also participates in solar incentives, which are available to Maryland residents. The Energy Investment Tax Credit allows homeowners to claim a percentage of qualified expenses for the system as a credit on their taxes—lowering the overall cost of the system.
This percentage has been changing across the years; from 2022 to 2032, the program is offering a 30% tax credit that is claimed when filing. Because tax credits reduce the amount of taxes owed, families who do not have taxable income or who do not owe taxes will not see a reduction in their bill.
There is no income limit for the Federal Residential Renewable Energy Tax Credit, which means that anyone can claim it regardless of how high their household income may be. Speak with a qualified tax professional for more information about tax benefits for your specific situation.
With all of the positive reasons to turn to solar energy, an important part of your decision should also include choosing the right installer for your array. Despite the allure to install panels yourself; using a qualified installer quill save in the long run.
Look for installers that are transparent about the costs and requirements of installing solar panels. Installers should be willing to assist with the requisite forms and applications that must be submitted. Consider installers who are members of professional solar organizations, such as Amicus Solar Cooperative, or those that are certified B-Corporations.
Choose Solar for Your Maryland Home
Going solar in Maryland has never been so popular, and for good reason. The appealing incentives, coupled with the benefits to the environment, and the freedom to move away from commercial utilities make solar arrays a valuable investment for many homeowners.
The experts at Ipsun Solar offer personalized solar array installation that is customized to the unique challenges and needs of your property. Contact Ipsun Solar to get a quote for a new array or to discuss your options.