AROUND THE NEK- According to Green Mountain Power, incentives gained from connecting to the power grid could be quite substantial.
In an attempt to make the state 90% solar by 2050, Vermont is encouraging people to either purchase solar panels in a community park, or branch out and incorporate solar panels on their property.
The bonuses of switching to solar on your own would not only affect how much you're paying now but will also affect increased rates later on as well.
According to Solar Advisor Cody Berwick, switching to solar does have its benefits.
"It just makes a lot more financial sense to make the investment now," says Berwick. "Some people want to go for the solar independence, so you're sort of protected from future rate increases if you're making your own electricity."
Some towns are helping make the leap with solar energy by implementing community solar parks, which are; solar arrays shared by members of the local area.
According to Solaflect, the amount of your return depends on how you utilize your tax credits. If you didn't take the tax credit, your return would be about the same as a bank account or money market fund.
If you take the return, it's equivalent to a municipal bond fund. Eventually, you would get your money back over 12 or 13 years, eventually leading to free electricity.
For more information about anything solar related check out Solaflects website.