When it comes to saving money on energy, most homeowners are all in. But did you know you can switch to solar power and add solar battery storage for less than ever before?
The Inflation Reduction Act (IRA), passed in 2022 as the largest energy and environment bill in American history, is already helping Americans save money on clean energy. In fact, we conducted a recent survey and found that of the Americans that have heard of the IRA, 50% are more likely to think that they can afford a solar system.
In this post, we’ll feature stories from three SunPower families who used the IRA to save even more on their energy.
For Keith Cohick of Salisbury, North Carolina, the solar Investment Tax Credit provisions of the IRA enabled him to offset 30% of the upfront cost of his SunPower Equinox® solar system. While this personal tax credit for installing solar energy isn’t a new incentive, the IRA increased the credit amount from 26% to 30%, and extended the program until 2033, when a gradual step-down will occur.
On an average day, nearly 65% of his home’s electricity is generated by solar power, and any excess energy production is stowed away in a SunVault® storage system for use when the sun isn’t shining or when the utility’s fees are at their highest.
One of the key motivations for passing the IRA was the need to build more resiliency into an aging power grid. Challenges brought on by extreme weather and climate change are no help either. Like an external hard drive for a computer, a solar battery creates a backup system for your home’s electricity needs.
With IRA incentives for solar battery storage, building your own energy backup system is more affordable than ever. For one homeowner in Sacramento, combining incentives from the IRA and the Sacramento Municipal Utility District enabled her to significantly reduce the upfront cost of her solar + storage system, while virtually eliminating her electric bill.
Still other families are completely electrifying their homes with smart energy choices beyond solar power and solar storage.
For the Curtis family in La Cañada/Flintridge, California, going solar wasn’t just to save money, it was to protect against the power outages that are becoming more prevalent in their windy area. Jon Curtis, the former mayor of La Cañada, was also interested in doing his part to shore up the California power grid.
“With the solar battery system, we’re able to help the grid out by not using grid electricity when the demand is highest,” he explains. “In the big picture, producing our own energy not only increases reliability and reduces the need for brownouts, it also helps avoid the need to build more power plants.”
By converting their home to all-electric, the Curtises knew they could defray even more costs and carbon emissions. So, Jon installed a heat pump and made other energy improvements before adding a SunPower solar system and solar storage. Today, their home solar system offsets all their energy use and even powers their electric vehicle.
The Inflation Reduction Act is really just the tip of the iceberg when it comes to all the available incentives for installing solar, a solar battery and a host of other energy improvements to your home. Depending on your location, you can also find local rebates. SunPower also has special offers for military service members, educators and first responders. Sign up for a custom quote to learn how much you can save.