03/27/2020

The Financial Benefits of Solar and Battery Storage

Resourcefulness can help us all endure and even thrive during this unprecedented era.  Thinking of new ways to keep ourselves, our families, and our communities secure is a reality we are faced with more and more every day.  Each of us must ask ourselves what we are doing to prepare for and invest in our future.  More than that, how can we remain autonomous through these investments?

Suntuity’s solar battery is an investment that provides energy independence.  A solar battery allows you to store excess solar energy for power during a blackout.  Excess solar energy harnessed during the day is kept inside the battery system. It takes away the worry of wondering if the power will stay on during the next act of God, and many smart investors are turning to this resource to help get through uncertain times.  In fact, U.S. battery capacity will increase to 4,800MW (megawatt) at the end of this year and may exceed 32,000MW by 2025. There are a few kinds of solar batteries available, and usually they can be financed for no upfront costs.

Solar batteries range in type and price, depending on your family’s specific needs.  Lead acid and nickel cadmium batteries are typically lower in cost. Lithium-ion batteries are the most common kind and do not require maintenance.  Flow batteries are known to last for decades without requiring much maintenance. It is important to consider how the energy capacity of the battery compares to the power needs of your residence and how long a battery’s life cycle will last before losing capacity. In addition to these factors, you may also be able to enjoy tax benefits for solar services, depending on which state you reside in.

Tax exemptions for solar services vary by state and are far reaching.  New Jersey residents are seeing tax exemptions for solar sales tax and property tax, and a federal Investment Tax Credit.  Pennsylvania is offering rebates on solar installations. North Carolina residents are exempt from property taxes on solar services and have rebates available. Additionally, Piedmont Electric Membership Corporation is providing members with $10k loans for 7 years at 5% interest, and those in Maryland are also exempt from sales tax and property tax for solar services. Florida residents are exempt from sales tax and the Orlando Utilities Commission is offering rebates, as well.  Furthermore, the city of Tallahassee is providing loans for solar services.  With all these options available, there is no better time to safeguard your peace of mind with the surety of a solar battery.

Suntuity Solar knows that unlike fossil fuels, the sun is an unlimited source of energy that can be harnessed and stored in a solar battery for when your loved ones need it most.  With solar power, there is no risk of an oil spill or other catastrophic event.  Solar power is one of the only viable energy sources that can meet the demands of the world’s energy needs and can power the world 15-20 times over.  The future is imminent and Suntuity is here to help you prosper.

Sources:

Consumer Affairs: https://www.consumeraffairs.com/solar-energy/solar-batteries.html

Energy Sage: https://www.energysage.com/solar-panels/solar-rebates-incentives/nj/

DSIRE1: https://programs.dsireusa.org/system/program?fromSir=0&state=PA

DSIRE2: https://programs.dsireusa.org/system/program?fromSir=0&state=NC

DSIRE3: https://programs.dsireusa.org/system/program?fromSir=0&state=MD

Stanford University: http://web.stanford.edu/group/efmh/jacobson/Articles/I/DJEnPolicyPt2.pdf

OAC: http://www.ouc.com/environment-community/ouc-solar-solutions/more-savings

PEMC: https://pemc.coop/save-energy-money/use-less-save-more/rebates-loans/

Solar Power World: https://www.solarpowerworldonline.com/2015/08/what-is-the-best-type-of-battery-for-solar-storage/

TALGOV: https://www.talgov.com/you/you-products-home-loans.aspx

Yahoo Finance: https://finance.yahoo.com/news/solar-battery-market-holds-great-150503221.html