The state of Delaware has made tremendous strides recently toward going solar, and it is quickly becoming one of the most favorable states for making the switch to solar powered energy. The three main methods for accomplishing the switch to solar energy in Delaware are leasing your solar power from a third-party company, purchasing with cash and installing a solar panel system at your home or business, or taking out some kind of loan or home equity line of credit to get a system implemented.
Delaware Legislative Support for Going Solar
In 1999, the state passed the Delaware Green Energy Fund Act, which immediately began raising money to support the development of projects throughout the state for green energy. Its 2005 Renewable Energy Standard (RES) made it mandatory for at least 20% of all energy sold in the state by 2019 to be from a renewable source like solar energy. Since the companies footing the bill for these initiatives are the electric companies themselves, it means they are being required to support and incentivize the increase of solar power usage throughout the state of Delaware.
How businesses and residences can go solar in Delaware
When you lease a solar system, you are basically renting your rooftop (or space adjacent to your home) to a company which will install and maintain solar panels there. This means you have no upfront cost, but will pay that company a monthly utility bill, just like you used to with your old electrical company. The difference is that the bill for solar power will be somewhat less, depending on prevailing local rates. The downside of leasing is that you receive none of Delaware‘s rebates or credits for the system, because you don’t own it.
By purchasing a system outright, whether that’s with cash you have on hand or what you obtain through a loan, you are entitled to all the rebates offered by the state and tax credits from the federal government. You would also have no monthly utility bill to pay to the electric company, but would instead have only low maintenance costs associated with the system.
In addition, if your solar panel system were to produce an excess of energy, you could actually sell that electricity to the electric company, and earn money for your household. This presumes of course, that you are connected to the electrical grid, which is a good idea in case you have a shortage of production in some months, so that you can purchase what you need to make up any shortfall.