Solar: Consumers Saved

Consumers Saved More than $2 Million with Solar in 2010

07 February 2011 - Solar Energy World, the region's leading solar panel installation firm, calculates that it saved consumers more than $2 million in 2010. The savings comes from a combination of federal and state credits and grants for installing solar panel systems, as well as local property tax credits.

Solar Energy World estimates that the residential solar panel systems it installed in 2010 saved approximately 6,588 kWh last year, shaving more than $70,000 off home utility costs annually.

In Maryland, consumers can apply for the Maryland Solar Energy Grant Program, where they can receive up to $10,000 on solar photovoltaic systems under 20 kW, and up to $1,500 or 20 percent of the cost of solar hot water systems. Additionally, residents in Anne Arundel, Harford, Howard, Montgomery and Prince George's counties offer property tax credits for installing solar panel systems.

On the federal level, consumers who install solar energy systems (including solar water heating and solar electric systems) receive a 30% tax credit for systems placed in service before December 31, 2016.

"Solar panel systems can pay for themselves in a few short years," says Solar Energy World managing partner Geoff Mirkin. "That's only if a consumer takes full advantage of all the tax credits and grants available to them." {continued}