Everyone is looking for additional source of income especially during this time when prices of commodities continue to skyrocket. If you are living in a suitable place where solar could be installed on your roof, then you have the big chance to make money out of it. These panels will not only provide you with an alternative power source to cut down your electric bills but also rebates, incentives, and bucks from rental fees.
How to Make Income Out of Solar Panels
The rebates offered for panel users can be of great help in lowering the electric bills or probably eliminate them. The incentives are provided by the government in every state of America to those installing solar systems in their businesses or homes.
The rebates obtained from solar can be up to 50% of the installation cost. After receiving your rebate check from setting up your solar system, the money is absolutely yours and you can do anything with it.
Aside from the rebates, another government incentive program for solar panel uses is the 30% Federal Solar Tax Credit. This particular tax credit can be applied to the amount of taxes you owe. It will not be deducted from your earning. Instead, it's a dollar-for-dollar credit for anything you should be paying in federal taxes.
One main reason why the government is providing all these incentives is to convince people to use alternative power source so that the world will not solely depend on the traditional source of electricity which is fossil fuel.
Another reason is to encourage the decrease in price of panels. When a lot of people are purchasing solar panels, there will be additional production from different companies which will surely lower the cost of each unit.
Lease Your Rooftop
Another possible source of income from solar panels is leasing your rooftop for installation of units by various companies that are interested in generating power by means of solar energy.
This method has already been implemented by many people in California. They are leasing their rooftops to companies without any money required in advance for the installation of solars.
Home and building owners, especially those located in areas greatly exposed to sunlight have been making money out of it or savings from not paying the monthly electric bills because they are also allowed to use the solar panels on their roof. Even unemployed individuals having the ideal roof can earn a living out of solars.
Leasing rooftop to solar contractors has been gaining popularity because of the advantages it offers.
Owners of homes and buildings are leasing the available space in their roof to contractors for solar system operation with a corresponding rent that serves as their income.
The system operator will then provide the solar power to utility and receives compensation from the power grid where the electricity is being sold.
The solar contractor can provide the roof owner with different options of the lease, depending on the qualities of the roof.
One option is that the solar contractor will provide the needed materials for the solar system installations and the owner will spend nothing. In exchange, he can make use of the electricity generated by the solar. However, the contractor will be the one to receive the rebate from the government as well as the monthly fees given by the local utility grid for the electricity sold to them.
Another option is that the contractor will provide all the materials and cost of installation, receives the rebate and incentives but will pay the homeowner a monthly rent for using the roof.
The homeowner can also choose the option wherein the solar contractors provide all the materials, but will pay a monthly fee for the usage of solar electricity.
For more information about Leasing rooftop for solar panels and make money with solar panels visit our website Solarpowerappeal.com.
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