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3 Financial Reasons Why You Should Go Solar In Idaho

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Compared to most other states Idaho enjoys some of the most affordable grid energy prices in the country. Throw in the lack of much in the way of state incentives and you may wonder why so many people are still choosing to install residential and commercial solar power systems. There are quite a few excellent explanations for why “Esto Perpetua” (Let It Be Perpetual”) is a perfect motto for this state and its people’s attitude towards renewable energy.

1) Federal Incentives Offer Excellent Value 

Before we look more precisely at the state of Idaho solar power, let’s quickly start with recapping the federal incentives and what they mean for people looking to adapt towards solar energy. Federal incentives are still offering close to 30% coverage of the entire cost of installing your primary solar power network. It does expire in a couple of years (after further reductions) and while there are no projections for it being renewed soon after you never know what may happen at a Federal level. Renewable energy is a hot issue that is going to become ever more significant – but expect at least a few years to go by before similar initiatives come to pass again.  

What that means for the average person considering solar power for their home or business is that now is the time to start putting those plans into action. Either appreciate the discount for what it is or apply that saving towards higher-end and much more productive solar panels – the choice is yours. Whichever way you go, expect the installation costs to be repaid between 10-15 years at most and then enjoy at least another 15 years (or longer) of massive energy discounts or even self-sustainability.

2) One Of The Country’s Best Solar Tax Credit Rates

One peculiarity about Idaho’s otherwise uninspiring state legislation for solar installation happens to be its excellent solar tax rates. These can be absolutely fantastic for those who pay substantial amounts of tax and equate to a dollar-dollar credit on your solar installation. People who pay plenty of tax can offset their entire installation costs – which is pretty good business when you consider how a modern solar power system will save money in the long run, and also add considerable measurable value to both residences and commercial properties.

Nobody would ever argue with the fact that the best way to make money from solar is to pay the whole sum upfront and not necessarily undertake a solar loan (which can actually be decent value over the long term). If you can use solar tax credits to that extent and also combine this with the Federal incentives, installing solar panels should be an absolute no-brainer decision.

3) Good Net Metering Rates

Plenty of people who opt to take their solar power project seriously may well be tempted to produce more energy than they need to meet their personal requirements. Despite the net metering laws offering lesser overall protection to those selling their surplus back to the grid, the state’s largest energy companies have pooled their resources towards making good value commitments in this direction. There are some limitations in regards to size but this should not trouble most people. 

It is a very interesting option for people who anticipate cultivating but not needing to use much energy during some stretches of the year, as their surplus production is then discounted from future bills (often in winter). For people who for whatever reason decide not to install their own storage batteries, it provides a good way of lowering energy bills across the board, and especially during phases of the year where these bills can become very steep indeed.

One of the undeniable qualities of solar energy in both residential and commercial senses is that it provides a level of self-sustainability that insulates users against future price hikes. Idaho may well be quite cheap when it comes to energy bills at the moment, but there is no certainty that will always be the case. Rates may have been quite dependable for a couple of decades now but that is no guarantee it will stay that way.