You may have heard a lot recently about solar panels and how they can reduce utility bills. Still, solar panel costs can be a concern for many homeowners. Fortunately, there are ways you can afford this system on just about any budget.
Look for Tax Credits
In many cases, Uncle Sam can help you pay for the system. Many states offer tax breaks for solar panel installation. Some programs, such as the Federal Investment Tax Credit, can cover up to about one-third of the entire cost of the system.
Many homeowners use the local power grid as a form of solar panel financing. Net metering allows you to connect the system to the grid and return unused power. The energy company will then provide you with a credit for every kilowatt-hour you put back into the grid.