This is a great time to consider implementing alternative energy such as solar power. Many states, including Massachusetts, have allocated monies to promote conservation and help states reduce their carbon output. If you install a solar system on your primary home, you can receive a Tax Credit on up to 30% of the cost, up to $500 per .5 kW of power capacity. This credit expires December 31, 2016. A tax credit reduces the amount tax you owe and so saves more money.
I have installed both a solar hot water system and a solar system to generate 50% of my electricity. Even though I am using home equity to pay for this, my electric bills will immediately show a credit for the power my house generated so I will have money to repay the loan. And every three months, I will receive a check based on the amount of power generated for the NEXT 10 YEARS. These SREC programs ensure that the utilities purchase clean power. At the minimum rate, I expect to receive approximately $2400/year. Not only does the installation pay for itself but it also cuts my electric bill for the next 30 years.
I love saving money and containing expenses but going sun-powered here in Massachusetts allows me to be frugal with natural resources, substantially reduces the amount of carbon used by my household, and increases the value of my home without affecting my property taxes for 30 years!
Installing solar puts local people to work in green industries which is a far better investment than casinos.
By rapierwit from Boston, MA
Amen! I'm promoting both solar and wind power projects here in Ohio.
Add your voice! Click below to comment. ThriftyFun is powered by your wisdom!