If you are looking for a great way to save money and help the environment at the same time, then you might be thinking about installing a residential solar system on Maui. At the same time, how big of a system do you actually need? There are a few important points that you should keep in mind.
How Big of a System Do You Need?
When you are trying to decide how big of a system you actually need, the first step is to take a look at the average amount of electricity you use on a regular basis. It is possible that your electricity needs will fluctuate during the course of the year. For example, you may run the heater more often during the winter. Or, if you are using electricity to heat your pool, this could drive up your energy usage during the summer.
You could quantify your electricity usage in kilowatt-hours, usually shortened to kWh. Then, compare this to the amount of electricity (in kW) that a single solar panel produces. The amount of energy a single solar panel will produce may depend on location, orientation, and time of year.
How Much Roof Space Do You Need?
Once you figure out exactly how many solar panels do you need, you also need to think about how much roof space you have and how much roof space is required. In general, a solar system that is mounted on the roof is going to require 18 square feet per solar panel. Therefore, you need to check and see if the number of solar panels you actually require is all going to fit on your roof.
If they will not fit on your roof, you need to decide if you are okay placing the solar panels somewhere else on your property, if there is a viable location. Or, you might only be able to offset a portion of your electricity usage instead of all of it.
What Incentives and Tax Credits Are Available?
There are multiple incentives and tax credits available that can help you fund your solar system. These incentives change from year to year, so be sure to keep up with the updated list. In general, the biggest investment tax credit that is available for a solar energy system is called the Federal Solar Tax Credit. This credit allows you to deduct 26 percent of the cost of installing a solar energy system from the amount of money you owe in taxes.
Importantly, this is a tax credit, not a tax deduction. Therefore, instead of deducting the cost of your solar energy system from your gross taxable income, you deduct it from the amount you owe in taxes, which is even better!
Rely on Maui Solar Project and Residential Solar on Maui!
If you are looking for help installing residential solar on Maui, then rely on the team from Maui Solar Project! Contact us today to learn more about how we can help you!