SunRun has expanded to Maryland! The Old Line State is really open to becoming a solar contender, and is offering homeowners some great money-saving benefits. We’ve outlined a few of them here, so you can get up to speed on why solar could be the perfect solution for your home energy woes.
1. Maryland’s State Incentives Make Solar Even Cheaper
Maryland’s Solar Grant Program offers homeowners a decent amount of money for going solar, and applies to all Maryland residents. The program is partially funded by the Regional Greenhouse Gas Initiative – the first market-based regulatory program in the U.S. Maryland also offers Solar Renewable Energy Certificates to homeowners generating renewable electricity, to the tune of one credit for each megawatt-hour generated. SRECs can be sold or traded on an SREC market, but like any commodity, their value fluctuates according to market availability – all the more reason to get started early.
2. The Legislature Wants You to Do It
Maryland’s Renewable Portfolio Standard (RPS) ensures 20% of the state’s power will come from renewable sources by 2022. Noncompliant utilities will be forced to pay a fee to the state government, which means your energy provider will probably bite the bullet and count your credits rather than get hit with the state’s fee. In 2005, Maryland vowed direct support to solar by carving a 2% solar requirement out of the RPS.
3. Solar Systems Increase Your Home’s Value
In addition to paying for itself over time, your solar system actually adds to the value of your home! According to a University of California at Berkeley study, homes with solar panels sold for an extra $5.50 per watt of solar power installed, for an average of $17,000 more per house. Think of it as a conservative investment. With all the DIY projects you could be taking on, solar is among those with the greatest payout.
4. Net Metering Loves You
When you upgrade your home to grid-connected solar, your current utility meter is replaced with a net meter, which can spin forwards and backwards. Your meter spins backwards whenever your home solar power system makes more energy than your home needs. When you draw power from your utility, your meter will spin forward. When producing more electricity than you use, your utility will credit you for the excess power, and when you draw from the grid, you will be spending the credits you built up during the day. It’s kind of like a battery backup system, only your utility is the battery!
5. You Get Energy Independence
When it comes to fossil fuels, the US is becoming more and more reliant on foreign supplies. By turning to the Sun for your power needs, you become less dependent on overseas energy sources. Plus, the technology to harness the Sun’s energy is being developed right here at home. When you support renewable energy in the US, you help support the US economy by creating jobs and moving your grid back into your own hands.
