Memphis Solar Panels
The city of Memphis is known worldwide as the Home of the Blues and Rock ‘n’ Roll, as well as being the home of Elvis Presley. And there’s a new way to power all those electric guitars and microphones. With electricity costs rising, the smart way to power your home and save money for decades is to switch to clean solar energy. When you get Memphis solar panels with Sunpro Solar, you gain energy independence, and your own electricity source.
The city of Memphis, aside from having an exciting and vibrant music scene, also has some gorgeous parks. Sadly, the state relies on dirty fossil fuels. Both harvesting and refining these fuels creates pollution. By utilizing clean and free energy from the sun, Memphis residents can reduce pollution and the cost of electricity. Memphis solar panels generate power for your home or business, and you only pay for extra electricity you need from the utility grid.
Not only are solar panels better for the environment, but going solar has never been cheaper for Memphis residents. That’s especially true with the federal and state incentives available to help you reduce the cost of your Memphis solar panels. And with Sunpro Solar’s unmatched warranty and guarantee, you can be confident your new solar panels will last for a very long time.
- 30% Federal Tax Credit
- Added Home Value
- Sales Tax Exemption
- Net Metering
The Federal Tax Credit
The federal government currently offers one of the best incentives available. The solar investment tax credit is available to both home and business owners who qualify. It is equal to 30% of the total cost of your Memphis solar panel system. That’s including installation!
Imagine you’ve purchased a solar panel system from Sunpro Solar, and the total cost was $16,000. 30% of that is $4,800, and that’s what you would receive in tax credits! If you don’t use all the tax credits the first year, the remaining credits are rolled over to the next.
Keep in mind, however, that this generous incentive won’t be around forever. It’s reduced to 26% in 2020, and to 22% in 2021. It will be phased out completely for residential buildings in 2022. Only commercial buildings will be eligible for a 10% tax credit after that. So if you’re thinking about going solar in Memphis, you’ll want to act sooner rather than later.
Increasing the Value of Your Home
Aside from providing you with decades of free electricity, solar panels also help your house. Solar panels increase the value of a home, on average, by $15,000 or more. This fantastic perk is especially great if you ever need to sell your house. And because renewable energy is becoming more and more desirable, your house may even sell faster. Not a bad deal at all.
Sales Tax Exemption for Memphis Solar Panels
The solar tax credit is pretty awesome, but there’s another incentive in Memphis if you want to go solar. In the state of Tennessee, there’s currently a sales tax between 7%-10%. On a smaller purchase, like some new shoes, or groceries, it might not seem like a big deal. But for a large purchase, the sales tax can add hundreds of dollars or more to the final price.
That is, unless you’re buying Memphis solar panels. The state of Tennessee has graciously waived the sales tax when it comes to solar energy systems. So if you live in Memphis, you can go solar without having to worry about sales tax.
Net Metering in Memphis
As solar panels grow in popularity, net metering is becoming increasingly common throughout the nation. When your solar panels produce more energy than you’re using, with net metering that extra energy is sent to your Memphis utility company electric grid. It would then credit your account for that energy.
The state of Tennessee does not currently offer statewide net metering. However, in Memphis, you can take advantage of a similar program with Tennessee Valley Authority, called Green Power Providers Program.
Choosing Sunpro Solar for your Memphis Solar Panels
There are many benefits of going solar in Memphis, but of course you want to be well-informed before you make the final switch. If you have questions, look no further than Sunpro Solar for answers.
Our solar installers are experienced, our solar panels come from high-performing, high-quality brands such as LG and Silfab, and our microinverters are top of the line. Each of our installations comes with our 25-year warranty and guarantee. We will also perform a FREE home energy audit to help you be as energy efficient as possible.
Reach out to us today at Sunpro Solar to schedule your free, no-hassle home consultation!