Tag: solar

This Year’s Holiday Gift from Nationwide Utility Companies? Rising Electricity Costs

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Families across the country are suffering this year due to increased pricing for nearly everything they use on a regular basis – and one of the most staggering price hikes has been to their electricity prices. With severe, freezing weather and higher costs to keep houses warm, it’s even harder to make ends meet right before the holidays.

In some cases, states are seeing a jaw-dropping 50 percent increase in utility costs. While these numbers are alarming as we inch closer to the holidays, there are things you can do to avoid the rising costs.

Heard enough and are ready to upgrade your home with clean, price-protected energy? Call us today at 1-888-MOMENTUM.

Utilities Rising Across the Country

Rising utility rates are sweeping across the nation worse than ever before. For example, residents in Connecticut are expected to see their electric bills increase by almost 50 percent, according to their Public Utilities Regulatory Authority (PURA).[1] Energy suppliers there procure electricity twice a year, and prices are changed on January 1 and July 1. Eversource, a utility company in Connecticut, will see their rate double from $0.12 cents to $0.24 cents per kilowatt hour for the first six months of 2023. Meanwhile, other customers who use United Illuminating will see an increase from $0.11 cents to $0.22 cents per kilowatt hour.[2]

Connecticut is one of many states that are being affected by these prices. Below is a list of other states experiencing the same issue.

  1. New Jersey will see an average rise of 25 percent.[3]
  2. California will see an average increase of $0.04 cents come the new year, which comes to about $7 per month.[4]
  3. New York will see their electricity bill on average rise an extra $20.90 per month.[5]
  4. Residents in Florida will see their bills increase three times between now and February.[6]

While these are just a few states to make a note of, several others are experiencing the same issue.

Switch to Price-Protected Energy

Going solar gives homeowners access to price-protected energy that can help them control their costs and manage their finances. What do we mean when we say price-protected? This means that the cost per kilowatt when you produce energy with your panels will remain the same.[7] This is a great benefit to homeowners who are having a hard time with the rising electricity rates or just want predictable bills each month.

Did you know that the average homeowner can save thousands during the first 25 years of owning their system?[8] Installing a solar panel system allows you to soak up the sun and provide heating, cooling and power to your home for a much cheaper price.

But wait, there’s more. Literally. Adding a battery backup system to your home lets you store excess energy at home. This way, when the power goes out, or you want to avoid peak electricity hours, you can use the extra energy generated by your system to power your home instead of pulling from the grid. Momentum is proud to offer two completely customizable battery modules from Enphase, allowing you to build a unique system right at home. Click here to learn more about Momentum Solar’s battery storage options.

Going Solar with Momentum

Whether you want to go green to save on the ever-rising utility costs, help the environment, or a little bit of both, Momentum is here to help you make a seamless transition solar. Each solar installation is custom-built to fit your energy needs and with flexible financing options, all homeowners have the opportunity to make the switch at a price point that works for them.

If you or a loved one are looking to go solar, call us at 1-888-MOMENTUM today.

Already installed with our team but have questions about your system? Email us today at myinstall@momentumsolar.com.

 

 

 

[1] https://ctnewsjunkie.com/2022/11/17/connecticut-electric-rates-to-increase-nearly-50/

[2] https://ctnewsjunkie.com/2022/11/17/connecticut-electric-rates-to-increase-nearly-50/

[3] https://www.nj.com/news/2022/10/your-energy-rates-in-nj-are-about-to-go-up-nearly-25-here-are-5-tips-to-save-money.html

[4] https://cal-cca.org/bay-area-electricity-provider-considers-rate-increase/#:~:text=Go%20into%20effect%20on%20January,maintain%20rate%20stability%20in%202023.

[5] https://licpost.com/con-ed-plans-to-hike-electricity-and-gas-rates-next-year-lawmakers-call-for-public-hearing#:~:text=The%20increases%20would%20take%20effect,for%20an%20additional%20public%20hearing.

[6] https://www.axios.com/local/miami/2022/12/12/florida-power-light-utility-bills-rise

[7] https://www.lawinsider.com/dictionary/price-protection

[8] https://www.greenlancer.com/post/how-much-do-solar-panels-save

 

Hurricane Season: How to Prepare for a Storm

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This week, Hurricane Ian is barreling towards the Gulf Coast of Florida. Airports, schools, stores and businesses are closed as Ian gets closer and closer. There are currently five categories of hurricanes that each represents varying degrees of severity; Category I is the least threatening with sustained winds of 74-95 mph, and Category V being the worst-case scenario for homeowners, with sustained winds of 157 mph or higher.[1]

Hurricane Ian is teetering on the brink of a Category V, and this means that the west coast of Florida will sustain, “Catastrophic damage will occur. Well-built framed homes can sustain severe damage with loss of most of the roof structure and/or some exterior walls. Most trees will be snapped or uprooted and power poles downed. Fallen trees and power poles will isolate residential areas. Power outages will last weeks to possibly months. Most of the area will be uninhabitable for weeks or months.”[2]

So, what can you do to prepare for damage to your home and power outages? Here is your Momentum Storm Guide!

Are you already a solar storm pro and want to speak to a Momentum specialist about battery storage? Click here or call 1-888-MOMENTUM today.

How to Prepare

Now, many people have the option to leave the area before the storm, and this is always the best way to prepare. If you can leave, pack up your essentials, snacks, clothes and small valuables and make your way to a hotel, friend or family member’s home. But how do you prepare if you must stay home and weather the storm? Below are a few key steps to follow!

If you have a business, it is also advised to take the same steps. It is better to always be prepared. If you would like to read more about preparing for a storm, click here!

Momentum Keeps the Lights On

Being prepared for extreme weather is one way to keep yourself and family safe. But during smaller (non-hurricane) storms where you can ride out the weather safely from home, battery storage may be a helpful solution.

Momentum Solar is excited to offer battery storage to homeowners with solar, and homeowners looking to go solar and add a battery backup system. We teamed up with an energy powerhouse to bring you the best battery storage solutions. Through our exclusive partnership with Enphase, Momentum provides homeowners just like you with energy management technology to keep your home powered up, even during harsh weather conditions. This includes instances where the rest of your neighborhood is experiencing a blackout due to extreme weather, rolling utility outages or other emergencies.

Having solar panels with storage means you always have energy to use – especially when you need it the most. The best part? When your panels produce more energy than you need, they can store that power for a rainy day in your Enphase battery unit.

Get Powered Up

As one of the fastest-growing solar power companies in the country, our team is here to help you keep the lights on. Whether you are on the East Coast, down South or on the sunny West, Momentum is ready to help you weather the storm.

Click here or call us today at 1-888-MOMENTUM to learn more about our services and how you can get started.

[1] https://www.nytimes.com/live/2022/09/27/us/hurricane-ian-florida-news

[2] https://www.nbcnewyork.com/weather/weather-stories/hurricane-categories-breaking-down-the-very-dangerous-to-the-catastrophic/3882035/

The Investment Tax Credit – Start Saving With Solar

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For many reasons, making the shift to solar energy may be beneficial. Homeowners not only get the advantages of lower utility bills, self-generated energy and environmental responsibility but they also have the opportunity to take advantage of the Investment Tax Credit (ITC). This useful tax incentive can save millions of homeowners throughout the country an enormous amount of money!*

Do you already know about the ITC? Click here to speak with one of our solar experts to see if you qualify for this awesome incentive!

Whether you already have solar, are considering installing it, or are just starting to consider leaving fossil fuels behind, this guide will tell you everything there is to know about the ITC and how it may benefit you.

What is the ITC?

The Investment Tax Credit, or also known as the federal solar tax credit, “allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes.” Another great feature of this tax credit, is that the ITC applies to residential and commercial systems and has no cap on its value.[1]

The History of the ITC

In 2005, the Energy Policy Act had established the ITC, and it was only supposed to last until the end of 2007. Since the ITC was so popular and supported the United States’ transition to renewable energy, it has been extended. In fact, since it was so successful, Congress had extended the deadline multiple times, most recently in 2020. However, the tax credit won’t the same, so now is the best time to act before it goes down in 2023![3]

How Does it Work?

First things first, you need to have solar panels! Next, you need to own your solar panel system. Even if you don’t have enough tax liability to claim the entire credit in one year, you can rollover the reaming credits into future years. Keep in mind that this is only valid if the tax credit is still in effect. However, keep if you lease or have a power purchase agreement (PPA) with your solar installer, you are not the owner of the system you cannot benefit from the tax credit.[1]

Quick Facts: The ITC

  • The residential and commercial solar ITC has helped the U.S. solar industry grow by more than 10,000% percent since it was implemented in 2006, with an average annual growth of 50% over the last decade alone.[2]
  • The 2020 extension of the ITC has provided market certainty for companies to develop long-term investments that drive competition and technological innovation, which in turn lowers energy costs for consumers.[2]
  • In December 2020, Congress passed an extension of the ITC, which provides a 26% tax credit for systems installed in 2020-2022, and 22% for systems installed in 2023. (Systems installed before December 31, 2019, were eligible for a 30% tax credit.) The tax credit expires starting in 2024 unless Congress renews it.[3]

How to Claim the ITC

Now that you’re an expert on the history of the ITC, how can you claim its benefits? When you file your taxes with the IRS, you will want to file a Form 5695.[2] You can fill out this form at the same time you would file your federal tax return. Be sure to mention to your accountant or tax professional that you’ve gone solar in the past year, or if you file your taxes yourself, you will just need to follow three steps.

  • Determine if you are eligible for the ITC
  • Complete IRS Form 5695
  • Add your renewable energy credit information to your typical Form 1040.[2]
  • For more detailed information on the process and how it applies to you, please consult with an accountant or tax professional.

Go Solar with Momentum!

There is no better moment to switch to cleaner, more affordable energy than right now! Even though the ITC is still in force, it may not be for long. Our team has over a decade of expertise in the solar sector and is eager to assist with your project, regardless of the size.

Call us today to learn more at 1-888-MOMENTUM!

*Momentum Solar do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

 

[1] https://www.energysage.com/solar/cost-benefit/solar-investment-tax-credit/

[2] https://news.energysage.com/how-do-i-claim-the-solar-tax-credit/

[3] https://www.energy.gov/eere/solar/homeowners-guide-federal-tax-credit-solar-photovoltaics#:~:text=In%20December%202020%2C%20Congress%20passed,2024%20unless%20Congress%20renews%20it.

Solar Technological Advancements

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While solar may seem like a revolutionary technology, its humble beginnings are more than 100 years old. Solar technology has been around since the late 1800s and has made significant advancements since then. There is so much more to solar than meets the eye. Aside from the typical uses like adding panels to a home, in a field or business, 2021 was a fantastic year for newly invented solar technology.

Let’s take a look!

Floating Photovoltaic Solar Panels

An emerging technology in the solar industry is floating solar photovoltaic systems (FPV). These are placed directly on top of bodies of water rather than a rooftop or land. The idea was first introduced in 2017, and a recent report from Technavio shows that “the FPV market will grow at a compound annual growth rate of over 31% from 2018-2022. 52% of the growth will come from the Americas.”[1] The National Renewable Energy Laboratory (NREL) found that 24,419 human-made bodies of water across the country have the potential for FPV systems.[2]

Why are floating solar panels so popular? Here are a few key reasons:

  1. No Loss of Valuable Land and Space– The biggest advantage to floating solar panels is they do not require land or valuable space. These panels can be placed on bodies of water such as resiviors, hydroelectric dams, wastewater treatment ponds and drinking water resivioirs.[3]
  2. High Panel Performance– Solar panels are extremely durable and can perform in high temperature areas. However, with some electronics, the higher the heat the lower the power output. With solar panels placed on bodies of water, this can help keep them cool and help the panels consistently perform well, even in warmer weather.[3]
  3. Environmental Benefits– Floating solar panels are not only kept cool by the water underneath, but they also provide shade which helps reduce evaporation from the pond or resi Shade also helos reduce the presence of algae in these bodies of water.[3]

Solar Lighting

Local governments nationwide are beginning to use solar-powered LED lighting to brighten their streets and walkways. By switching streetlamps to solar-powered lighting, neighborhoods can cut down their cost of electricity, benefit from being off the grid, enjoy low maintenance (aka, never having to change a light bulb) and reduce their carbon footprint

All of these factors benefit the environment and humanity, leaving behind sustainable solutions and a greener future for generations to come.[4]

Photovoltaic Noise Barriers

While this term may sound a little intense, PV noise barriers are truly an ellegantly simple solution for one of the most pressing environment issues: noise pollution. If you are unfamiliar with noise barriers, they are “an exterior structure designed to protect inhabitants of sensitive land use areas from noise pollution. Noise barriers are the most effective method of mitigating roadway, railway, and industrial noise sources.”[5]

In laymen’s terms, noise pollution is any unwanted, manmade noise in the environment that can cause harm to humans, animals or the environment itself. For example, trucks and cars flying by on a highway are an example of noise pollution. Locals who live near a highway or busy street can be subject to loud and unwanted sounds that can cause hearing damage overtime or cause distractions.

The approximately 3,000 noise barriers lining U.S. highways provide amble space that can be used for solar energy production. It is even estimated that these barriers can be used to produce 400 GW of power each year. With new innovative developments, double-sided solar cells can be used to increase the performance level of the panels in any position.[6]

So, with all this extra real estate available on America’s highways, it is kind of a no-brainer to put it to good use! Adding solar panels to the noise barrier or dividers is a great way to generate clean energy without taking up useful space!

Building Integrated Photovoltaics

Building integrated photovoltaics (BIPV) serve a dual purpose. BIPV act as both the exterior of a structure and generate electricity at the same time for either on-site power or power sent to the grid off-site. According to SEIA, “BIPV systems can provide savings in materials and electricity costs, reduce pollution, and add to the architectural appeal of a building.”[7]

Not sure what building integrated photovoltaics are supposed to look like? Take a look at the image below!

As you can see, solar power has come so far since its discovery by Edmund Becquerel in 1839. We now have the ability to harness the power of the sun practically anytime, anywhere.

Momentum Knows Solar

As one of the top solar providers in the country, we can utilize our more than 10 years in the business and team of dedicated experts, to help make you transition to solar energy seamless. We handle the entire process from the moment the contract is signed so all you have to do  is sit back and relax.

For more information about how to get your solar project started, please call 1-888- MOMENTUM today!

 

[1] https://www.nrel.gov/state-local-tribal/blog/posts/floating-solar-photovoltaics-could-make-a-big-splash-in-the-usa.html

[2] https://www.nrel.gov/state-local-tribal/blog/posts/floating-solar-photovoltaics-could-make-a-big-splash-in-the-usa.html

[3] https://news.energysage.com/floating-solar-what-you-need-to-know/

[4] https://www.sepco-solarlighting.com/blog/5-new-solar-power-technologies-in-2021

[5] https://www.dot.state.mn.us/environment/noise/about.html

[6] https://www.dot.state.mn.us/environment/noise/about.html

[7] https://www.seia.org/initiatives/building-integrated-photovoltaics#:~:text=Building%2Dintegrated%20photovoltaics%20(BIPV),architectural%20appeal%20of%20a%20building.

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