Electric rates in Utah are ranked 37th out of fifty states. The cost of electricity in a given state is one of the most important factors in determining whether or not solar panels are a good investment. The explanation for this is straightforward: solar energy competes directly with electric prices. Low electricity prices make it difficult to see a big return on your solar energy investment.
Utah has some of the best net metering laws in the country. Solar panels or other renewable energy generators are connected to a public-utility power grid, and excess power is transferred into the grid, enabling consumers to cover the cost of power drawn from the utility. It also helps you save money on your monthly energy bills. If your device generates more electricity than you want, you can sell it back to the grid. The cost of the electricity is deducted from your monthly bill or applied to a future bill.
Sales tax exemptions are available in Utah for PV systems with a capacity of 2MW or more. A sales tax exemption means that homeowners and companies would not be required to pay any state sales tax on their solar panels. When you consider the dropping cost of solar equipment and installation, as well as state rebates, tax credits, and a federal tax rebate, there are compelling reasons to go solar in Utah!
Solar energy is abundant, clean, and sustainable. As the cost of using solar becomes more affordable, more Americans are opting for it. There are now over a million solar panels installed in the United States.
Solar panels are considered improvements, similar to a redesigned kitchen or a finished basement, so investing in a solar energy system would almost certainly increase the value of your house. Each kilowatt-hour (kWh) of solar energy generated reduces greenhouse gas emissions such as CO2 as well as other harmful pollutants including sulfur oxides, nitrogen oxides, and particulate matter. Solar also cuts down on water use and withdrawal.
Homeowners who install rooftop solar panels will save thousands of dollars on their electricity bills, increase the value of their homes, and stabilize their energy prices, all while helping to fight global climate change.