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Green Tip – What’s New in Solar Energy

With the federal tax credit for installing solar panels decreasing at the end of 2019, many homeowners are trying to figure out if installing a solar power system for a home is worth it. Here are the top three items to consider: 

  1. Find a solar power system cost calculator online that can compare the expense of the solar system to the electricity rates that are charged by utility companies in your area. The payback period for the home’s solar system varies from one home and state to the next. 
  2. With warranties for solar panels lasting as long as 25 years, they can be a sound investment. 
  3. Solar panels may lead to a higher resale value of the home. 

The costs associated with solar panels have dramatically decreased over the last decade, making them an affordable solution to reducing energy bills and benefiting the environment. The Federal Investment Tax Credit, or ITC, is also known as the solar tax credit. This credit will be reduced slightly after 2019. Although it will be a lower percentage, it still is beneficial for homeowners to explore the benefits of solar energy.

About This Author


Pete Yang

Pete Yang is a senior vice president for Alpine Bank and the co-chair of Alpine's "Green Team." He's based in Aspen, where he handles commercial and consumer loans, with a particular focus on resort financing. He has a keen interest in protecting Colorado's unmatched mountain environment.

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