Adding solar panels to your roof can lower your energy bills, reduce your carbon footprint, and earn you significant federal tax credits. But the upfront cost can be huge: thousands of dollars to buy and install panels, meaning home solar is out of reach for many people. A new pilot project in Georgia is trying to change that.
Seth Gunning and Nicole Lee recently splurged on the house near Savannah and agree it's "perfect" and "ready for the sun." They are both solar installers and contractors in Georgia's new Bright Solar rental program. Lee says this house is perfect.
“It’s a good candidate for solar because it’s solar ready,” he said. “We know they have the most up-to-date electrical systems. Lots of sun because it's a new neighborhood. So there are no mature trees. »
If the owner agrees, he or she will not purchase solar panels; Instead, it will lease the system to the Georgia Bright Program, the national nonprofit that administers the Capital Good Fund.
And the savings can be huge. “So by going solar after paying the lease, you save about $400 a year,” Gunning said.
The Georgia Bright program targets people who earn less than $100,000 per year. Lee said the provision of solar energy is particularly important for households who typically spend a large portion of their income on energy.
“This program levels the playing field for families facing such energy burdens to help them reduce their energy costs,” he said.
Because the initial installation of solar power is expensive, households with the heaviest energy burdens often cannot afford it. There is a significant federal tax credit to offset the cost, but you need to pay tax to claim it: so, once again, low-income people are often left behind. Until now.
A recent change in federal law allows nonprofit organizations to claim clean energy tax credits for rooftop solar panels through direct reimbursement.
"So if it's a $10,000 system and we get a $3,000 refund check from the IRS, the system costs less to purchase," explained Andy Posner, founder and CEO of Capital Good Fund.
Solar leasing is nothing new. But this tax has changed. As a result, Posner says his company can charge lower prices than many commercial solar installers.
“Also because we do not have the return on investment demanded by commercial companies,” he said.
Savannah homeowner David Morgan purchased his 1955 home a few years ago. He wanted to install solar panels and said the Georgia Bright program seemed like a good program. Her electric bill now runs about $270 a month.
Once his panels are installed, “I’ll participate in the $98-a-month solar program,” he said. “And I have to use $60 to $70 a month from Georgia Power.”
This represents a savings of approximately $100 per month. Morgan earned $65,000 in disaster response. He said he would put his solar savings towards his retirement. “Everything helps to try not to work when I’m old.”
Additionally, Morgan added that he likes to contribute to the fight against climate change.
“If more people embrace the transition to renewable energy and move away from things that actually do more harm than good,” he said. “And it’s one of those programs that anyone can participate in.”
The Georgia Bright program aims to add solar power to approximately 200 roofs in the Atlanta and Savannah areas in the coming months. The organizers hope it will increase further.
This coverage originally aired on WABE and is made possible through a partnership with WABE and Grist , an independent, nonprofit media organization that tells the story of climate solutions and a just future.
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