Adding solar to your home to cut energy cost

Spring is upon us and it is time to look at your home energy cost. Updating your home with latest renewable energy products on the market will help you to save money and give a new look to your home. Upgrades such as adding solar panels may qualify your home for a Federal and State tax rebates.

There are many optional ways to add solar panels. Purchasing solar panels outright and leasing panels are two main options that many consider. Purchasing panel option may provide the best return on your investment. Purchasing will give you 30 percent Federal credit and some states do provide similar benefits too. When you add both incentives, your system can be paid off in five to seven years. The expected life expectancy of a system is about 30 years. Even after the life expectancy, panels will run at more than 80 percent efficiency. Not a bad deal.

Along with adding solar panels, also look at upgrading your HVAC system and replacing windows. These two upgrades alone can increase your energy efficiency by 20 to 35 percent. There are rebates available from utility companies for this kind of upgrades too.