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Top 3 Reasons Our Customers Go Solar

The solar industry is growing at a rapid rate. It is projected to grow to 48% of total U.S. renewable generation by 2050¹!

Our customers see the many benefits of solar, but the top 3 reasons our customers go solar are to save money, help the environment and to increase their property value. Let’s take a deeper look at why these are the top reasons to go solar.

#1 Reason Our Customers Go Solar Is…

Save Money by Eliminating Their Power Bill

We hear our customers say over and over again that they want to control their energy costs. Your electricity bill is one of the few bills that you don’t control, with monthly costs varying throughout the year and subject to rate increases year after year.

When you go solar, you basically trade your power bill for a solar loan payment. The loan is set at a fixed interest rate and doesn’t fluctuate every month-plus the bill is typically the same or lower than your normal bill. Once you pay off the loan, you OWN the system and eliminate your power bill.

No more renting electricity! For the life of your home, you won’t have a power bill anymore, except for a small fee to stay on the grid.

#2 Reason Our Customers Go Solar Is…

Help the Environment

As we see more and more natural disasters and plastics polluting the oceans, it’s natural to want to do something to help the environment. One great way to decrease greenhouse gases is to convert to clean, green energy.

By harnessing the power of the sun, you eliminate the use of finite resources such as coal, and draw from the consistency of the sun to “Power Your Lifestyle”.

Here is an example of what a 16kW system is doing for the environment in 1 year:

#3 Reason Our Customers Go Solar Is…

Increase Their Property Value

Not only will you SAVE money by eliminating your power bill, but you’ll also MAKE money by increasing your property’s value without paying extra on your property taxes. Isn’t that nice?

On average, a home with solar will sell for 4.1% more than a similar home without solar. This translates to about $8,200 added to a home valued at $200,000².

To go more in-depth about increasing your property value with solar, click here.

Bonus #1- Current Tax Incentives are AMAZING right now

One of the many reasons our customers are going solar right now is because of the current tax benefits being provided by the federal and state:

  • 26% Federal Tax Credit on solar systems installed by 12/31/20
    • In 2021 the Federal Tax Credit will lower to 22% and be gone after 12/31/21 for residential systems
  • 10% State Tax Credit on solar systems installed through 12/31/27
  • $0 State Sales Tax added to solar systems purchased in New Mexico
  • $0 State Property Taxes added to solar systems, even though they increase your property’s value.

To maximize your savings, consider going solar before 2021 is over. Just remember, your solar system will need to be installed before the end of the year to qualify for tax credits of the year you’re applying it towards.

Bonus #2- Industry Warranties Are Top-Notch

The warranties for solar are the best the industry has ever seen. The LG panels that we recommend will give customers a triple 25-year warranty:

  • 25-Year Product Warranty: this protects the actual solar panel and any defects that may be present. However, LG tests every panel to ensure it will perform well in real-world circumstances.
  • 25-Year Performance Warranty: this protects the rate of degradation of the module, which is about .3% each year. So after 25 years, your LG panels will work at minimum of 90.8% efficiency! Compare that to a study done on the lifespan of solar panels, that says after 15-20 years solar will work at 80% efficiency³.
  • 25-Year Labor Warranty: If you have panels that repair or replacement, LG will cover the cost of labor for up to $450.

Bonus #3- Protection Against Rising Rates

Now that solar is installed for your home, you’re able to enjoy NO rate increases, which would have cost you hundreds of thousands of dollars over the course of your home’s lifespan. Check out how rates have increased over time, and are still on the rise.

Learn More

Are you considering going solar? What reason to go solar stands out to you?

If you would like to talk with one of our Solar Advisors, click below to get started.

Last Chance To Go Solar In 2020

Last year my family and I decided to officially go solar. Although I’ve worked in the industry for 5 years, we weren’t in a home that we wanted to stay in. After we moved and settled into our new home, I did the math for what solar would cost us compared to what we were already paying the utility company and it was a no-brainer to go solar. Earlier this year, we received our 30% federal tax credit for our solar purchase in 2019!

This year the tax credit went down to 26%, however, the state of New Mexico added a 10% state tax credit. That means you’ll have a 36% savings on going solar, if you act now. In 2021 it will go down to 22% then in 2022, there won’t be a federal tax credit available.

So if going solar is on your list, you might want to move it to the top of your list so you can maximize your savings.

Below we explore how long it actually takes to go solar in New Mexico. Remember, to qualify for the current tax credit, your system must be installed on or before December 31, 2020.

Going solar takes time

Going solar is a process. It’s an investment with a timeline, and to meet your “deadlines” you need to know how long it actually takes to go solar and what’s involved.

The quickest I’ve seen a customer go from signed to solar is 45 days. But typically the process is about 3 months. Shocked?

Well, let me share with you just what’s needed when you go solar.

Before you sign, find a trusted company to work with

The first step to going solar is finding the right company. We suggest going solar with a company that’s established in the community and has a good reputation. In the solar industry, we have seen many “quick and ditch” solar companies that disappear overnight, along with any warranties they had.

Once you find the right company to work with, you’ll need to look at your options for financing. If you don’t have the cash, find a banker you trust. Now is a great time to lock in your loan due to the low rates because of the coronavirus. If you need help finding one, we have our preferred bankers that we work with often.

Now you have a trusted company, and a bank to lend you money. You’re ready to sign the contract you’ve approved with the solar team.

The Timeline to Getting Solar Installed

Week 1-2. Solar agreement is signed. Financing is approved. Drawings are completed. HOA application.

Now the process of going solar begins. You’ve signed your agreement, financing is approved and you’re ready to move forward. Most companies will require a deposit to start the rest of the process.

You will also need to talk with your Homeowners Association (if applicable) to find out what stipulations they may have for installing solar. Our team works with your HOA to submit any paperwork needed throughout the entire process.

Week 3-6. Site visit with sign-off of design. Electric company application completed. Permits submitted.

Now is the time that the design of your solar system is finalized and approved. The solar advisor will visit your home and show you the design for your approval. Once completed, the application will be submitted to the electric company provider to review, about 3 weeks.

Why does the electric company need to approve your application? Well, they look at the demand of energy on the grid and see if the excess energy that your system will produce can be sustained by the current transformer in your neighborhood. If there’s already solar installed on your block, there’s a chance the transformer will need an upgrade. However, 98% of applications will be approved without any issues.

Lastly, your permit will be submitted for approval with the county.

Week 5-8. Electric company application approved. Permit approved. Schedule installation date.

So your solar system got approved, and it’s time to get drawings and a permit to do the actual work. This process takes 2-4 weeks, depending on what county you live in. Bernalillo County is the fastest in the approval process, averaging 2 weeks. Rio Rancho and Santa Fe typically take 3-4 weeks. Fortunately, the timelines have not been affected by the virus.

We will set a tentative install date and confirm when permits and HOA approvals are finalized.

Week 7-11. System installed in 1-2 days. Final building and electrical inspection. Receive the green tag from the inspector.

This is where most customers get anxious! You’re so close to getting your installation done, but there’s a few more steps. The final building and electrical inspection will need to be done to receive the green tag from the inspector. Now your solar system can be installed on your rooftop in 1-2 days, or about 3 days for a ground mount.

Your system will be installed but will need to be inspected further before going live.

Week 11-14. Electric meter set. Final email. Monitoring system goes live.

Your new solar meter will be set alongside your existing electric meter. Once you receive your final email, your system will go live!

YOU’VE OFFICIALLY GONE SOLAR- Congratulations!

Be sure that your monitoring app is installed on your phone so you can easily see the energy your system is producing!

 Other Factors to Consider for Your Timeline.

While you can plan ahead for your solar system to be installed by the end of the year, keep in mind that the weather could play a factor. No one can predict if we will have a huge snowstorm that could throw off the ideal timeline. So planning with a few extra weeks “just to be safe” would be wise.

Cost of Doing Nothing

If you wait to go solar, you could potentially lose thousands of dollars. You would lose 4% of the federal tax credit for 2020, as well as all the months of paying “rent” for your electricity bill to the utility company—lost money that could be going into the investment of owning your own power station!

You’ll also want to make sure your roof is “solar ready” before installing a system.

Conclusion

If going solar in 2020 is part of your goal, take action now! Don’t get left behind on maximizing the savings for your home.

Get started on the process with a Free Solar Consultation and see what your savings could be!

Why Poulin Solar Pro Uses LG Solar Panels

When it comes to choosing solar equipment to offer our customers, we want to make sure we select brands that are established in the community and share our high standards of quality. With thousands of brands to choose from, we want to ensure our customers that the products we’re using for their remodel or solar installation will LAST the test of time and be a good investment for their home.

Today we want to highlight the solar brand we have selected to work with: LG. You may be more familiar with them regarding your appliances or home electronics, but LG has been involved in the solar industry for over 30 years. Solar Pro at the Poulin Design Center is your local LG Pro, supplying you with the latest innovations of solar technology that the industry has to offer.

Before we dive deep into why we chose LG, we would like to give a very brief history of solar being available for homeowners.

Brief History of Solar

Solar has been developing since the 1800s and was recently introduced to consumers in the 1970s. When solar first came out, it was very expensive, starting at $76.00 per watt! For comparison, solar now costs about $2-4 per watt, depending on the quality and brand used.

As a company that has been in business almost as long as solar has been around for consumers, we want to make sure we partner with companies that we trust and are established in the industry.

LG is Established in Solar

One of the biggest reasons we have chosen to partner with LG, over other brands is their longevity. LG is a multi-billion-dollar worldwide company with a good reputation. In solar, there are many emerging brands, some that stay for a while and others that disappear almost as fast as they appeared.

We have even sold a few of these disappearing brands to our customers and quickly realized that we don’t want to affiliate with a brand that could be here today and gone tomorrow, plus lose the warranty they promised. This is why we have chosen to use panels by LG—an established and diversified brand with 30+ years’ experience in solar. Even if their solar division dissipates (which we don’t foresee), the brand won’t be leaving, and they will honor their warranties.

Innovative Technology

LG has been innovating in the solar industry and has award-winning panels.

A few of their awards include the Intersolar Awards for their Cello Technology™ and BiFacial technology; Judges’ Choice Award from Energy Manager Today in 2018 for the NeON® R modules;  The U.S. Environmental Protection Agency (EPA) recognized LG with the ENERGY STAR Partner of the Year-Sustained Excellence Award the same year.

The technology developments not only make their panels a smarter choice but help push the entire industry to have more efficient panels. The panels from LG are top-quality and retain 90.8% of their efficiency after 25 years! Additionally, they are designed to give more power, which in turn minimizes the number of panels installed on your roof—saving you more money on your power bill.

Just one of the many reasons we stand behind this product, as well as the warranty they have on their panels.

Industry Warranty

Part of the decision of which panels to buy for your home should include the warranty. LG leads the industry with a triple 25-year warranty:

  • 25-year Product
  • 25-year Performance
  • 25-year Labor

In the rare case of needing a repair on a panel, LG will pay up to $450 for labor, so you don’t have to spend money out of your pocket.

LG’s roots date back to 1947, so you’ve got a company with a LONG track record of success backing your warranty.

LG Uses Their Own Solar

North American Head Quarters in New Jersey

In addition to all of the above, it is important to note that LG actually uses solar for its business—they believe in the power of solar for you personally and on a corporate level they demonstrate their belief by using it! In 2014 LG installed 3.2MW of solar power in South Korea and have installed over 18MW in their other manufacturing facilities. LG also has a US manufacturing plant in Huntsville, AL, creating 400 jobs for the US in 2019. See video here.

Additionally, LG recently completed and moved into its new North American HQ in New Jersey, a 15-acre LEED Platinum certified facility that includes 1.3Mw of LG NeON®2 solar panels on its roof and parking structure.

We love that they believe in using solar, just like our company, which made the decision to install solar power for our business in 2019 at the Poulin Design Center. Both owners of Poulin Solar Pro, Tom and Steve Poulin have installed solar for their own homes and truly believe in the innovation that solar provides for their customers.

LG and Solar Pro both believe in solar, but “practice what they preach.”

Closing

It matters to us what companies we stand behind since we have a reputation to uphold in New Mexico. We have been locally owned and trusted since 1982, and want to make sure we serve our community the right way with the right products.

To read more about the benefits of LG Panels, click below to download their full list of innovations.

Resale Value of Solar Panels for Your Home

Going solar is an investment, and many of our customers want to know the return on their investment.

Will solar increase the value of their home?

We talk about this subject to every customer, but there are many factors that go into how much value solar adds to your home—age of home, tax incentives to offset your costs and other long term factors that are hard to put a number to.

This blog will dive into what the market research reveals about this subject and how it specifically applies to New Mexicans.

Investing in Your Home

It is common knowledge that owning your own home has it’s own price tag. There is a yearly cost associated with your home, including property taxes, utility bills, home maintenance and home improvement costs. But what if you could control some of these fluctuating costs, such as your utility bill and invest in solar for your home?

“When you invest the money you would already be sending to your utility company, you can create an asset that is part of your house.”  -Steve Poulin

Put simply—you stop paying the utility company to generate electricity for you, and you start generating your own electricity by investing in a solar. You start controlling your energy costs, and once you own your system, you eliminate that bill.

Cost of Solar

The average cost of a solar system, including installation, is $22,000 in the Albuquerque area.

If you do a simple mortgage calculation of your monthly bill for 10 years at 3.5%, the loan payment will be $218 per month. This is with $0 down, so your bill could be less if you add a down payment to your system.

Now you have a locked rate of $218/month without fluctuating rates for the next 10 years. When has this happened with your utility company?

After the 10 years concludes, you won’t have an energy bill except for a small fee to stay connected to the grid.

Compare this with your normal electric bill—it typically fluctuates month to month with higher payments during summertime. Depending on your home’s size customers could pay up to $400-$500!

Cost of Solar Vs Value Added to Your Home

According to a study by Berkeley National Laboratory, your solar system will add an average of $3 per watt of your system. For a 5-kW system, your home’s value will increase by $15,000, about 68% of your investment. If you take into account the current tax credits, you would recoup about 94% of your investment (subtract the cost of your system from the 36% state and federal tax credits).

Property Taxes in NM Won’t Rise When You Own Solar

New Mexico does not raise your property taxes when you install solar panels on your property. Your home’s value will increase, but they won’t tax you on this portion. New Mexico is one of 18 states(1) in the US that provides this benefit without tax stipulations over a number of years, cost of the system, or other restrictions.

No State Sales Tax

The upfront cost of most investments includes state sales tax. In New Mexico, solar systems currently do not get charged for state tax. For the average $22,000 system, you’re saving an additional $1,732.50, or 7.875% tax in Bernalillo county.

Going Solar If You Plan to Move

We have found that if you plan to stay in your home for 5 years or more, solar is a profitable investment. Numbers don’t lie, so let’s take a look at what your return on investment is after 5 years of owning solar.

Your solar system costs $22,000 on average. As of 2020, you would get a 26% federal tax credit and a 10% state tax credit in New Mexico.

Your system x 36% tax credits = Savings on System

$22,000 x 36% = $7,920

Now let’s subtract your savings from your tax credits from the system’s cost:

$22,000- $7,920 = $14,080. This is how much you need to get out of your investment for your home to make it worth your while.

Now let’s look at your average utility bill for the next 5 years. An average bill is $150 per month.

($150 x 12 month) X 5 years = $9,000

$9,000 is what you would already be paying your electric company for energy, assuming their rates did not increase over the next 5 years. If you take this money out of what your system costs, you would only need to make sure your home’s value increases by $5,080.

$14,080 – $9000 = $5,080

So, will your home’s value increase by $5,080?

Let’s take a look at a study conducted by Zillow that looked at the real estate market to see if homes with solar sold at a higher price with comparable homes.

They found that on average, a home with solar will sell for 4.1% more than a similar home without solar. This translates to about $8,200 added to a home valued at $200,000.

At this rate, you’re now making $3,120 on your home by going solar if you decide to sell after 5 years.

Soft Benefits of Solar

There are other benefits of solar that are hard to put a number to but are worth noting.

  • According to a study by National Renewable Energy Laboratory, homes with solar sell an average of 20% faster than homes without solar. Many home buyers perceive the value of solar and their future savings on their energy bills.
  •  Older homes with installed solar will have a competitive advantage in selling against newer homes that are more energy-efficient.
  • It is important to note that the benefits above directly benefit the owner of the solar system. If you do not own the solar system, you won’t reap the tax benefits. If you have a Power Purchase Agreement (PPA), you don’t own the system and when you sell your home, there is typically an awkward agreement transfer.

In Review…

  • The money you’re already sending to the utility company can be invested into your home to go solar and become an asset.
  • Your solar loan is a locked rate that does not fluctuate and typically saves clients money right away.
  • On average your home’s value increases by $3 per watt of installed solar
  • Property taxes in New Mexico will not increase when you own solar, even though your home’s value will increase
  • There is no state sales tax for solar in New Mexico
  • If you stay in your home 5+ years, an investment in solar is a profitable investment
  • Your home’s resale value increases an average of 4.1%
  • Homes with solar sell 20% faster than comparable homes without solar
  • Older homes will be more competitive in the housing market
  • You get the most benefits by owning solar and not through a PPA agreement

What’s On My Electric Bill?

Your electric bill is typically not considered an optional bill to pay. You want electricity? Then you have to pay for it. It’s just one of those bills you can’t avoid and typically don’t look forward to getting, especially when you’ve had the A/C cranking through the hot summer months.

We wanted to take a deeper dive into your bill for Albuquerque residents, so they can understand it better. It can be a little bit confusing to understand each charge and how they pertain to you as a consumer, so we thought it would be good to look at a few key elements.

Blocked Billing

You’re charged per kilowatt-hour in blocked billing in intervals of 450 kWh. A kilowatt-hour is a basic measurement of electricity usage of 1000 kilowatts for 1 hour of use.

Here is a typical breakdown of blocked billing charges:

  • Block 1: 0-450 kWh hours is $0.0779432/kWh
  • Block 2: 450-900 kWh hours is $0.1240339/kWh
  • Block 3: 900 kWh+ hours is $0.1495326/kWh, depending on where you live

 

When you have unusual usage, such as having company over or an electric device is left on, you really pay for the extra electricity used. If you’re already out of block 1, you will pay very high rates for this additional usage. But when you go solar, your solar panels will produce energy, so you’ll only pay for what your system didn’t produce, which is usually in block 1—the cheaper rate.

Most things you buy are cheaper by the dozen. If you buy in bulk, the more you should save on your energy bills, right? However, it’s more like buying 2 cars at the dealership and they ask you to pay 30% more on the second car. That’s crazy!

Fuel Cost Adjustment

This portion of the bill shows the actual costs of producing energy: non-renewable or renewable. Non-renewable sources of energy production include coal, oil, and natural gas. Renewable energy, including solar and wind, is currently $0 on the bill, but the cost for this service is recovered through the renewable energy rider, more on that in the next section.

I wanted to point out this portion of the bill because it directly shows the amount of energy being used from the source type, non-renewable energy.

According to the U.S. Energy Information Administration describes non-renewable energy this way: “These energy sources are called nonrenewable because their supplies are limited to the amounts that we can mine or extract from the earth.”

There is a limited supply of the traditional sources of energy we use, however, New Mexico receives an average of 310 sunny days each year! Limited sources of non-renewable energy, but unlimited sunshine in our state.

It must be noted as well, that our state is taking aggressive steps to have 100% renewable energy by 2045.

To give you an idea of what the use of energy is across the U.S., see chart below.

Renewable Energy Rider

What exactly is the renewable energy rider fee you’re paying?

The utility company passes along the fee to create clean sources of energy onto their customers. In a way, you’re already paying for renewable energy to be used in your community, without having the personal benefits of having solar (no more electric bill).

As of February 2020, you’re charged $0.0076413 per kWh of the total usage you used in the billing month.

Once you have solar though, the renewable energy rider is removed from your billing, giving you extra savings.

What Does Your Bill Look Like After Going Solar?

When a person goes solar, they typically “trade” their electric bill for a solar bill (loan) at a fixed rate. Many times, their monthly solar payment will be less than their average electric bill cost—giving them instant savings! When they stay tied to the grid (which we recommend), then the only charge they have from the utility company is about an $8 fee to stay on the grid. Plus, once you finish paying off your solar loan, you eliminate that bill, with only the grid fee left to pay. WOW, what a savings!

Know Your Usage Anytime

When you go solar, you have an energy production software that is not controlled by the utility company. You have real-time access to it through web-based monitoring, so you can track your production any time you’d like.

When you get your electric bill after you go solar, you can confirm the usage numbers from the utility company with the solar production numbers on your app. You don’t have to take their word for it anymore, and you’re in FULL control of your system. It takes the guessing game out of your bill with 3rd party verification of your usage. It’s very accurate and confirms that your solar system is working properly as well.

If you go over the energy produced by your system, you’ll be billed by the lower billing blocks by the utility company per 450 kWh.

Net Metering- Renewable Energy Credit

“Net metering is a billing mechanism that credits solar energy system owners for the electricity they add to the grid. For example, if a residential customer has a PV system on their roof, it may generate more electricity than the home uses during daylight hours.” –SEIA

This is a wonderful benefit to those who go solar. If you don’t use all the energy your solar system produces, you can “save” it for later use!

Let’s show you an example of Steve Poulin’s bill, co-owner of Poulin Solar Pro. He recently went solar after moving to his new home!

Steve’s solar system produced 1082 kWh. Since his house only needed 1042 kWh, he made 40 kWh more than he needed (as seen in the 40 in parentheses in bill above), as a credit. He is “banking” the extra 40 kWh for later.

In essence, Steve’s meter is SPINNING BACKWARDS! He says he can’t WAIT to see his July bill.

How many of you are waiting to see your July bill?

Final Thoughts

It’s one of the few bills we have little control over. Every house has a cost for electricity, so investing the cost into your own system, plus all the federal and state credit, makes sense from an investment perspective.

Current Tax Incentives

Federal Incentives

  • 26% federal tax credit—expires 12/31/20
  • 22% federal tax credit—valid calendar year of 2021

New Mexico State Incentives

  • 10% state tax credit—valid 3/1/20- 12/31/27
  • $0 State Sales Tax—current rules, subject to change
  • $0 Property Tax—you will still be charged property tax, just not on your solar system.

To learn more about whether going solar is a good option for you,

call us 505-880-2500, or click below to

Schedule a Free Solar Consultation

Even if you just see what your savings could be,

it is an eye-opening experience!

Giving Back with the Albuquerque Isotopes

Last week we had an opportunity to GIVE BACK!

The Albuquerque Isotopes and Poulin Solar Pro PAID for Jose Nunez’ electric bill.

You may have seen this young man in the news recently…

He was the guy that returned $135,000 CASH to local authorities…

And since then he’s been recognized as a leader in the community sporting good character.

We recognized this act of INTEGRITY—as it’s one of our company’s CORE VALUES, and wanted to bless this young man…

Check out the video below to see what we did!

We want to GIVE BACK to YOU!

During the Isotopes season, we typically pay for 1 lucky fan’s electric bill during Saturday night home games.

As you know, the season is delayed, but we decided we would not delay our giveaway!

For our 1st Electric Bill Giveaway during the month of May, all you have to do is ENTER online.

We will call or email the winner and post it on our social media accounts!

👇 Click below to ENTER right now and see last year’s winners! 👇

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How Solar Works In New Mexico

Have you ever thought about plugging into the sun? Even the inventor of the lightbulb thought that using nature’s resources as a power source was important.

How does solar produce energy for my home?

Solar basically uses the sun’s light to be converted to energy to power your electricity needs. Once panels are installed, the energy produced by the sun is converted in your solar system via your inverter to be used directly in your home. For an easy way to understand solar, look at our graphic below.

Reasons to Go Solar

There are numerous benefits to going solar. Below are the top benefits of converting to renewable energy.

  • Save money and control energy costs- this by far is the biggest reason most people go solar. People are able to invest in their own energy source and own it. Instead of ‘renting’ electricity from their utility company, they are harvesting power from the sun to power their lifestyle.
  • Increase the value of your home—when you move you can list your home at a higher market value since it will be more attractive to new buyers, if you own your system. Your home can qualify to be listed in green categories, depending on your county requirements, since your house is more energy efficient and energy conscious. This allows to compete with new energy certified homes being built.
  • Help the environment—making choices with your wallet, even with utilities is making a difference for clean, sustainable energy. Reducing your carbon footprint will have an environmental impact!
  • Store energy for future use—the unused energy produced by your system will be stored for you to use at a later time. If you go over the energy produced by your system, you’ll be billed for that extra energy by your local utility provider. So you don’t have to worry about running out of power and it’s trackable through your solar app monitoring system and utility meter.

Reasons to Wait to Go Solar

  • Planning on Moving—it’s best to wait until you relocate to your new residence to go solar.
  • Bad roof—placing solar on a good roof is integral to a good experience with solar. If you’re roof is in need for a replacement, consider asking your solar advisor to bundle your roof loan with your solar loan to make the most out of your investment.
  • You want to Lease solar– OWNING solar is our highest recommendation on this subject. When you lease solar, you as the homeowner do not reap the massive tax benefits that come along with owning solar. Below is a graph we created to show you the difference.

Current Tax Benefits

The federal government and the state of New Mexico have several tax incentives to go solar. These incentives have certain deadlines you need to follow and should be filed with your tax professional.

Federal Incentives

  • 26% federal tax credit—expires 12/31/20
  • 22% federal tax credit—valid calendar year of 2021

New Mexico State Incentives

  • 10% state tax credit—valid 3/1/20- 12/31/27
  • $0 State Sales Tax—current rules, subject to change
  • $0 Property Tax—you will still be charged property tax, just not on your solar system.

How much will I save?

You swap your electricity bill for a solar bill. Once your solar bill is paid off (at a fixed monthly rate), you won’t have an electric bill, except for a small fee to stay on the grid. On the other hand, your utility bill is subject to yearly rate increases and will never be paid off.

The cost of doing nothing is that you will pay approximately to the utility the same amount of money in a 10-year period as you would be buying your own solar system.

Final Thoughts

Thousands of people in New Mexico are reaping the benefits of our AMAZING sun by investing in solar.

Click below to see how much you’ll save by going solar.

Plus, through April 30, 2020 we are PAYING for your electricity bill until you Go Solar with our company with 6 months deferred payments.

Federal Tax Credit Coming to an End! BUY Solar by October

Getting Started with Solar Power *Federal Tax Credit Coming to an End! BUY Solar by October*

DID YOU HEAR? The 30% Federal Tax Credit is COMING TO AN END! Buy solar by October to capitalize on this opportunity!

The incredible deal being offered by the federal tax credit is coming to an end, and in order to get the deal you have to buy solar by October or earlier to MAXIMIZE your savings!

Are you ready to install solar in your home? Have you been thinking about it but aren’t sure where to start? Here are a few steps to getting started with Solar:

Check your roof. Because putting solar panels on your home may involve a roof installation, your first step should be checking the condition of your roof to see if you may need any repairs or if you need to replace your roof. This is key because replacing your roof AFTER the installation of solar panels will be difficult, especially because the warranty of most solar panels is 25 years!

Research your options. Did you know there are different kinds of solar? Depending on your home, your needs for power, your energy use and your budget, finding the right kind of solar panel that creates the greatest amount of power for the longest life span will ensure you get the most bang for your buck. Be sure to also look at the benefits provided by each kind of solar panel. Confused or overwhelmed by the choices? Let a solar expert at Poulin Solar Pro give you a FREE consultation today!

Look for a RELIABLE installer. One of the worst things that can happen with solar? Having it installed incorrectly and not maximizing your potential for the best savings and most energy. Reputable installation companies will be registered with organizations such as the Better Business Bureau, have credentials from third party organizations like NABCEP (North American Board of Certified Energy Practitioners), or are certified installer partners of the manufacturers they represent.

Schedule an installation. After gathering quotes, reviews and having several companies look at your home, look at your space and quote the best options for you, choose a type of panel and a company to install it for you. It can take from 1-2 days to properly install and connect the panels, but after they are set up they become the easiest thing to manage in your home.

Still worried that solar panels are a huge undertaking or a massive investment? We’d love to talk about how you can make solar work with your home. Now is the best time to go solar, and making sure you do it before the solar tax credit goes away is crucial. Don’t let the sun set on your savings!

Solar Panel

Solar is the Future: 30% Federal Solar Tax Credits End In:

30% Federal Solar Tax Credits End In:

2019/12/30 23:59:59

Is solar the future? Whether you’re watching the news, scrolling past an Instagram ad or talking to a friend: it’s hard not to recognize that solar power is a trend that keeps gaining momentum. In addition to its growing popularity, solar is becoming even more mainstream, with everyone from your neighbor to your uncle installing solar panels to help them save money and the planet. But is solar really the future?

To answer that, let’s actually take a step back. Solar power is actually a much older concept than we realize…

Do you know how long solar power has been around?

Since ancient times, civilizations have been harnessing the power of the Sun. In fact, Egyptians and the Greeks had to plan months, if not years in advance to make their homes habitable during the winter.

But, with their knowledge of the sun’s seasonal position in the sky, many homes were strategically built to capture as much of the sun’s heating rays as possible during the day so that they would stay relatively warm during the night.​

So how long will solar be around in its modern-day formatting? Is it a fast fad? Will it fade in the future?

The answer is no. Solar is here to stay and being one of the first people on board will be extremely beneficial for you, and your wallet. (Not to mention the environmental benefits that come from utilizing the power of solar that only compound over time.)

As it stands now, the world only gets about 1% of its energy resources from solar; however, it is entirely feasible that in the next 30 years this percentage could skyrocket to as high as 27%.

But the biggest form of support for the future of solar comes from the Federal Tax credit that was approved by congress in 2015 that created a 5-year solar tax credit extension, which makes ​solar energy​ more affordable for all Americans.

What is the solar tax credit?

The federal solar tax credit, also known as the investment tax credit (ITC), allows you to deduct 30 percent of the cost of installing a solar energy system from your federal taxes. The ITC applies to both residential and commercial systems, and there is no cap on its value.

Want to know how to utilize this credit? This credit was actually established over 10 years ago, but the extensions provided are meant to make solar energy more affordable and easy to access for consumers. Here is what the extension looks like:

  • 2016 – 2019: The tax credit remains at 30 percent of the cost of the system. This means that in 2019, you can still get a major discounted ​price for your solar panel system​.
  • 2020: Owners of new residential and commercial solar can deduct 26 percent of the cost of the system from their taxes.
  • 2021: Owners of new residential and commercial solar can deduct 22 percent of the cost of the system from their taxes.
  • 2022 onwards: Owners of new commercial solar energy systems can deduct 10 percent of the cost of the system from their taxes. There is no federal credit for residential solar energy systems

Additionally, in previous years, owners of new solar energy systems could not claim the tax credit unless their system was operational. Now, the legislation allows them to claim it as soon as the construction of the system is complete, as long as it is operational by December 31, 2023.

Do you want to take advantage of the Solar Tax credit? Now is the PERFECT time because Poulin Solar Pro is also running a Grand Slam Solar promotion giving you 20% off in addition to the 30%! Contact us today so you won’t miss this!

Sources:

  1. https://oilprice.com/Alternative-Energy/Solar-Energy/Could-Solar-Provide-27-OfWorlds-Energy-By-2050.html
  2. https://news.energysage.com/congress-extends

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