FAQ

The Solar Investment Tax Credit (ITC) is a dollar-for-dollar federal tax credit which reduces a person or business’ tax liability based on the amount they have invested in a solar energy project. The residential and commercial ITC are both worth 26% of a solar project’s cost though 2022. For example, a $10,000 solar electricity system will be eligible for a $2,600 federal tax credit. Customers that purchase or finance their system through a solar loan are eligible for this incentive.

The price to purchase a solar panel installation can vary depending on several factors. These factors can include electrical usage of the site, the location of the solar array (i.e. ground mount or roof mount), quality of components, and site constraints. The cost of solar has gone down in recent years. In 2019, the average price of a system from Green Power Energy was $30,000 with an expected Return on Investment (ROI) of approximately 6 years. Most solar customers, however, go solar for $0 down through one of our “Free” solar options. These options allow you to pay nothing up front and still be cash flow positive from day one thanks to the electric savings and the available incentives.

Solar Energy works by taking the energy from the sun’s rays and converting it into electricity. The sun’s rays contain photons. When these photons hit a solar module, electrons inside of the solar module move and an electrical current is created. This electricity then travels from the solar array to an inverter. The inverter takes the electricity which is in DC form and switches it to AC. Once that switch is made to AC, the electricity is ready for use. From the inverter, the power is fed directly into the main electrical panel and can provide power to the site. If the site demands more power than what is provided by the solar it will pull from the grid. If the sun produces more than the site needs, then that overproduction is put back into the grid for a credit in a process known as Net Metering.

With Robinhood Solar Group, your solar installation is a turnkey package. We handle the permitting with the township, and the approvals with the utility company. Generally, the time frame between sign up and installation is 12-16 weeks. This allows for time to engineer the system, submit for approvals, obtain approvals, and procure equipment. The actual installation will only take a few days. Be aware, it may take a few weeks after installation before you are issued your formal “Approval to Operate” from the utility company.

Going solar creates a great investment and revenue stream on your home and also has positive environmental implications. Going solar will provide a strong ROI for those looking for an investment, and can even provide monthly cash savings for those who finance. By going solar, you are creating clean power on your own property and reducing the need for electricity from power plants powered by fossil fuels. A solar array that produces 5,000 kWhrs annually will save the equivalent of 1.875 tons of coal from being burned each year.