Saving On Solar is here to help Loretto homeowners maximize their energy savings with solar panel installations. We have a network of licensed Tennessee solar advisors who will use your home’s size, roof type, and power usage in order to customize an affordable solar quote & design for you!
What are the benefits of going green with Loretto solar? Well not only do renewable sources like solar create clean electricity without releasing any carbon emissions into the atmosphere but they also provide significant cost savings over time when compared against traditional power costs.
Homeowners in Loretto TN are ideal candidates for solar energy absorption. If your area or utility offers net metering, you’ll receive a credit for the excess energy you produce, effectively reducing or eliminating your utility bill.
How Solar Works:
Solar power systems can be broken down into three types:
Solar panels are installed on rooftops where they can harness the sun's rays. When there isn't enough sunlight - such as at night time - you still get electricity by connecting through a grid connection. When it gets sunny outside and you produce more than your system needs, that extra energy goes back onto the grid so you can use it later!
The best of both worlds! Solar panels are installed on your roof, and the energy generated by them is used to power your home. When there's no sun shining, you first rely on stored solar batteries for energy before drawing power from the utility. And when you generate excess electricity you can still benefit from net metering.
[We currently do not offer Off-Grid solar installations]
Imagine how freeing it would be to live in a world where you are not tied to the grid, and have complete energy independence. Solar panels with battery backup provide all of your power needs when they're installed at your off-grid home, delivering clean renewable electricity day and night without any emissions whatsoever!
Homeowners in Loretto TN qualify for a 30% tax credit through 2032. Beginning in 2033, the tax credit will diminish to 26%, then 22% in 2034, before going away the following year.
Keep in mind that a tax credit works differently than a tax deduction. A credit means you’ll be directly refunded on your federal taxes for the qualified amount. For example, if you pay $20,000 for a 6kW solar system during the current tax year, you’ll be credited $6,000 on that year’s tax returns, bringing the true cost of your solar installation down to $14,000.
Solar is an amazing investment for your home! There are several financing options available, and they all require $0 down and are easy to qualify for. The most popular option is a home solar loan or a home equity loan – which will still let you take advantage of the Federal tax credit that comes with getting solar panels installed on your house in Loretto.
A solar panel installation can provide Loretto homeowners with a relatively quick ROI by immediately reducing or eliminating your electric bill and adding tax-exempt value to your home. This is true even if you have a loan, as the monthly payment on solar panels will typically be less than what you were paying for electricity every month before installing them. On average, the added value to homes in terms of price per square foot increased 4.1%, according Zillow!
Curious about how much money you can save with solar? A typical Loretto home with solar panels will produce more power than it needs during peak hours. With grid-tied systems, all the energy that is not used by a household goes back to the energy grid and receives credit for it because of net metering. This means when you use less electricity from your electric meter as well – causing your bill and meter to run backwards!
When you need a solar panel installation, Loretto is an excellent place to be, but permitting and inspections can be a hassle. You don’t have to worry about permits and inspections because the solar partners we connect you with will do it for you! They will also provide engineering and installation services which will make your experience as easy as possible.