It’s no secret that being a homeowner can be an expensive investment when combining mortgage payments, utilities, home improvements and lawn care. This is a common theme among homeowners across the country with properties ranging from small cottages to whole estates. Some often brainstorm ways on how to lower their bills or curb spending which has led to an increased interest in energy-efficient options like solar panels and battery storage, which are two of the leading options for homeowners in the renewable energy realm.
Renewable energy sources can work together in a microgrid to create a backup supply of power that can be stored and used as needed. CleanSpark’s mVoult is a smart-controlled energy solution that enables homeowners to keep track of energy usage, and it also provides resiliency during power outages.
Market research firm Technavio predicts that the residential backup power market size has the potential to grow by USD 1.32 billion during 2020-2024. Several factors contribute to the growing interest including cost reduction and efficiency of solar; emergence of storage systems; and federal actions under the Biden Administration to facilitate the deployment of renewables. There are rebate incentives across the federal and state levels to encourage energy efficiency in the residential sector which in turn make utilities more affordable.
A popular personal tax credit for solar rebates backed by the IRS allows a 26 percent incentive if at least half of a home is heated by a solar solution. Credits from purchases can be received if equipment complies with the tax code. There are also loan programs that allow lenders to add 100 percent of energy-efficient improvements to an existing loan with certain restrictions. The Database of State Incentives for Renewables & Efficiency® website provides a comprehensive list of the numerous energy rebates and tax credits in the U.S.
California leads the U.S. in renewable energy with 14 percent coming from solar, according to the Los Angeles Times. It’s projected that the state can achieve 100 percent of clean energy by 2035 without causing blackouts or disrupting the economy. Experts suggest the wide use of solar energy and batteries to meet this milestone. The California Public Utilities Commission’s (CPUC) Self-Generation Incentive Program (SGIP) supports the goal by offering residents rebates and providing educational resources about energy-efficiency.
Such governmental programs strive to make renewable energy attainable for everyone and organizations like CleanSpark help consumers navigate the process and optimize their complete home energy system solutions. They create custom plans for homeowners based on their qualifications for rebates/incentives and individual needs.
As a one-stop shop for solar and batteries, CleanSpark’s residential microgrids provide security and cost savings helping to make consumers feel at ease. Contact us today to find out how we can help you take control over your utilities and build energy resiliency!