Renewable energy sources are growing fast to become the largest segment of the US power industry. Among all renewable energy sources, the sun is the most abundant source. The advancements in technology are unleashing the potential of solar power and making it affordable. For the benefit of future generations and our planet, it is the right time for us to embrace this highly efficient renewable energy source. Kansas City Solar Energy has a lot of potential since the city’s resources are untapped. Kansas is the fourth best solar resource state in the US with the potential to generate 6,960 GW of solar power.
Policy and Incentive Benefits in Kansas City
With all the potential, Kansas City ranks at 38th position for solar installation capacity. It shows that there is an enormous opportunity for us to contribute to the environment and in the process save money by reducing power bills. To switch over to the solar energy, Kansas City offers certain benefits to its citizens even though they are less compared to the other states.
Higher Electricity Prices
Switching to the solar power does help you since Kansas Electricity prices are $ .13/kWh, which ties it at the 18th spot for Nation’s highest electricity prices. It makes sense to switch to solar power since it can reduce your power bills.
You will also benefit due to the Net metering policy in the Kansas City as you will be given credit for the solar energy surplus. Net metering is available for residential systems up to 25kW in capacity on a first come first serve basis. It is a benefit to save on your energy bills.
Property Tax Exemption
The property tax exemption saves your money in the long run if not immediately. Installing a solar energy system enhances the value of your home. You don’t have to pay any property tax on the increased value of your home. It is a significant saving because the value of the home increases approximately 20 times the annual savings of the electricity bill. This value is going to be substantial, and the property tax on that will be huge.
The benefits offered regarding policy and incentives by the state along with federal tax rebates makes solar power a great option. The solar power investment is still worth since it provides around 7.3 percent return on your investment which is comparable to stock market investing. Kansas City is perfect to take advantage of clean power.
Though utility companies lobby for lesser benefits for solar energy, the benefits regarding the better environment and also reduction of bills is compelling enough to consider the switch. Larger benefits from the state would make it more attractive. But, for the long term, we can make an impact which will be similar to planting trees every year.
The advantage of solar energy cannot be overlooked. The trends point out that solar energy has become more efficient and cheaper with the advancement of technology. It is worth switching over to solar energy especially in a city like Kansas which holds unique advantages and potential.