Beware of fast & free solar schemes

Adding a solar generation system to your home or business can feel like a big step, with a substantial price tag attached. There’s no way around the fact that solar panels and electrical work cost money. The return on investment is calculated in years, not months.

Unfortunately, there are many solar energy “offers” out there which can put unknowing customers in a bad situation — often by claiming to be able to give away free panels or systems. These misleading scenarios can involve solar leases – where the property owner never owns the system – or outright scams.

If you’re considering adding solar to your home or business, it’s worth the time to check out the details of these offers before signing any contract or letting someone alter your property in any way.

At mtvSolar, we hear from many people that they have been approached by someone wanting to sell or “give” them a solar system – often a ready-made setup that can’t be customized — if they’ll only sign the contract TODAY. This is a red flag for any transaction, and we’re glad to hear many customers say they walked away from those “offers.”

In our experience, most customers want to own their own solar equipment. That lets them be more energy independent, adds home value, qualifies them for tax credits and allows them to manage their own energy usage.

Even with a growing pot of grant money and tax credits out there to support renewable energy efforts, solar panels aren’t free up front. The panels cost money, connectors and electrical supplies cost money, and the skills of a well-trained crew and electrician cost money.

Our Solar PV Consultants are up front about this fact, and spend time running through the numbers with our customers to see how a system can be financed, and will reduce utility costs over the long run.  mtvSolar customers can be eligible for zero-down loans to finance a solar installation over 10-20 years, or a number of other incentives that can reduce the cost of a system. We know that solar is a good financial choice, because we’ve helped customers cut their power bills and even earn money back through solar credits, where available.

mtvSolar has been designing custom solar energy solutions for residential, agricultural and commercial customers since 2009. We’re not in a rush to sell you a ready-made solar system, because that’s not how we work. Each customer has their own energy goal, and each project is unique. We spend the time to educate customers about their options, to customize a system to their goals, and to install it properly so it functions as it should.

Take your time to learn more about solar. Visit our “Resource Center” section on mtvsolar.com to see Frequently Asked Questions and check out the gallery of our work. When you’re ready, we’ll be here to help you achieve your solar energy dreams.

As Maryland electric rates rise, solar options grow

Maryland electric customers are about to see their residential power bills jump up as part of a planned electric rate increase approved by the state’s utility regulators. Meanwhile, the market for solar energy credits remains strong, making this an optimal time to put solar to work for you and your wallet.

Customers of Potomac Edison will see their costs for Standard Offer Service (SOS) electricity rise on May 31, 2023 from 6.537/kWh to 8.910/kWh – more than a 30% increase. That price will remain in place for just four months. On October 1, 2023, the price for electricity will be 9.22 cents/kWh. Again, that price is just for the short term – through May 31, 2024. The price for SOS electricity from June 1, 2024 – May 31, 2025 will be set by Potomac Edison in January of 2024, the company says. Those costs reflect what electricity is costing Potomac Edison from its suppliers, the company says.

Maryland electric customers have choices about their power suppliers, from the open market to their own roof.

Solar energy continues to be a growing part of Maryland’s energy portfolio and is a very viable source for residential power needs. Customers can buy into community solar projects, seek out other renewables or install their own solar panels. Right now, there are unprecedented levels of federal grants and tax credits to make residential and commercial solar generation an achievable reality. If you’ve been interested in adding solar energy to your home to offset rising costs for electricity, this clearly is the time to take a step in that direction.

For commercial operations and farms, additional funding for renewable energy projects remains available through the U.S. Department of Agriculture (USDA) as part of their REAP grants – Rural Energy for America Program Renewable Energy Systems & Energy Efficiency Improvement Guaranteed Loans & Grants. Project applications are due by March 31, 2023 for qualifying projects that serve small businesses and farms.

mtvSolar is your experienced, reliable source for guidance on adding solar to a home, business or farm in Maryland and the surrounding states. Explore our website, visit our FAQ page for Frequently Asked Questions about solar and click here to get your free estimate.

Going solar just got a boost with new federal credits & incentives

mtvSolar is excited to learn of new levels of federal support for clean energy projects, adding another layer of incentives for residential and commercial customers to install solar as their power source. These investments in growing the clean energy economy will have special impact around rural coal communities and on sustainable energy projects in low-income communities. Details of these programs were released just last week by the U.S. Treasury, the U.S. Department of Energy and the IRS.

mtvSolar has a long track record of building out solar in underserved communities, and working with partners to boost solar in low-income areas.

Danny Chiotos, mtvSolar Director of Product Delivery, said the U.S. government’s new funds for clean energy create “stacked incentives” to offset the costs of solar panels, battery systems, smart electric panels and related electrical work.

Commercial solar projects have access to the widest variety of federal credits, said Danny. Businesses can receive the standard 30% federal tax credit for solar energy project costs, can apply for the USDA and Rural Energy for America Program (REAP) Energy Systems & Energy Efficiency Improvement Guaranteed Loans & Grants to possibly cover up to 40% of the cost of commercial projects, plus the new location-based incentives that can add 10% additional credits for projects in coal-affected communities, and in low-income communities.

“When you start adding those together, we can be talking about covering nearly all of the costs of a commercial solar energy installation,” said Danny.

Residential solar projects can still receive the 30% federal tax credit for new systems, plus applicable depreciation on a homeowner’s taxes each year. Other credits may be available from individual state tax departments for energy efficiency work, using American-made clean energy components and more.

Customers are encouraged to consult their tax advisors as they work with our PV Consultants to make the most of these new federal incentives to power a business, farm or home with solar.

And it’s worth remembering that all tax credits and financial incentives are added to our customers’ main savings – free electricity generated by their solar panels harnessing the power of the sun.